United Bank for Africa Plc has formally announced that Mr. Tony O. Elumelu, Group Chairman of UBA, will retire from the Board of Directors of of the bank on August 21, 2026, upon the completion of the 12-year tenure limit prescribed for Non-Executive Directors of Banks by the Central Bank of Nigeria.
The bank in a statement noted that at its meeting held on July 6, 2026, the Board accepted Elumelu’s retirement and elected Mr. Emmanuel N. Nnorom, a Non-Executive Director of the Bank, as his successor, with effect from August 21, 2026.
The statement reads in part, “the Board places on record its profound appreciation to Mr. Elumelu for his visionary leadership and exceptional contribution to the strategic vision and institutional strength of the UBA Group.
“Mr. Elumelu’s tenure has been a defining chapter in the Group’s history”.
Nnorom is a chartered accountant with over forty years’ experience in banking, finance and audit.
Commenting on his retirement, Elumelu, said: “Serving United Bank for Africa has been one of the great privileges of my career. UBA has established a unique competitive position, across Africa and globally, and I leave the Board with great confidence in UBA’s future.”
(Ripples)