UBA Appoints Emmanuel N. Nnorom as Group Chairman
United Bank for Africa (UBA) Plc has announced the retirement of its long-serving Group Chairman, Mr. Tony O. Elumelu, CFR, marking the end of a transformative era in the history of one of Africa’s largest financial institutions. The Bank also announced the appointment of seasoned banker and chartered accountant, Mr. Emmanuel N. Nnorom, as the new Group Chairman, effective 21 August 2026.
According to an official statement issued by the Bank, Mr. Elumelu will retire from the Board of Directors upon completing the maximum 12-year tenure prescribed for Non-Executive Directors of banks by the Central Bank of Nigeria (CBN).
The decision was taken during the Board of Directors’ meeting held on 6 July 2026, where members formally accepted Mr. Elumelu’s retirement and unanimously elected Mr. Emmanuel N. Nnorom, who currently serves as a Non-Executive Director of UBA, to succeed him.
The announcement marks a significant leadership transition for the pan-African banking giant, which has grown into one of the continent’s most influential financial institutions under Mr. Elumelu’s stewardship. A Legacy of Growth and Transformation
In paying tribute to the outgoing Group Chairman, the Board expressed profound appreciation for his visionary leadership, strategic foresight and unwavering commitment to the growth of the institution.
The Board described Mr. Elumelu’s tenure as one of the most defining periods in UBA’s history, noting that his leadership played a pivotal role in transforming the Bank from a regional financial institution into a truly pan-African banking powerhouse with a growing global footprint.
During his time as Group Chairman, UBA expanded its operations to 20 African countries while establishing an international presence in four major global financial centres—namely the United Kingdom, the United States of America, France and the United Arab Emirates.
Today, the Bank serves more than 50 million customers worldwide through an extensive network of branches, digital banking platforms and innovative financial services. UBA has also strengthened its reputation as a leading institution promoting financial inclusion, digital banking innovation and sustainable economic development across Africa.
Beyond expanding its geographical reach, the Bank has continued to record significant improvements in operational efficiency, customer service delivery, digital transformation and shareholder value under Mr. Elumelu’s leadership.
Elumelu Reflects on His Journey
Speaking on his retirement, Mr. Tony O. Elumelu expressed gratitude for the opportunity to serve the institution, describing his years with UBA as one of the greatest privileges of his professional career.
“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,” he stated.
He also expressed strong confidence in his successor, saying:
“Emmanuel Nnorom is a leader of integrity, experience and sound judgement, and I am confident that the Bank will continue to thrive under his leadership.”
His remarks reflect confidence in the continuity of UBA’s strategic direction and its commitment to maintaining high standards of corporate governance, innovation and customer-focused banking services.
Emmanuel Nnorom Takes the Helm
The incoming Group Chairman, Mr. Emmanuel N. Nnorom, brings over four decades of professional experience in banking, finance, accounting and auditing.
A respected chartered accountant, Mr. Nnorom has built an impressive career spanning leadership roles in corporate finance, financial management and governance. His extensive experience on UBA’s Board has given him a deep understanding of the Bank’s operations, strategic priorities and long-term vision.
Industry observers believe his appointment will ensure continuity in the Bank’s governance while providing strategic leadership to support UBA’s next phase of growth and expansion.
In his acceptance remarks, Mr. Nnorom expressed gratitude to the Board for the confidence reposed in him.
“I am honoured by the trust the Board has placed in me and deeply conscious of the legacy I inherit. I look forward to working with my colleagues on the Board, Management and our staff across all our markets to sustain UBA’s momentum and continue delivering long-term value to our shareholders, customers and stakeholders,” he said.
Strengthening UBA’s Position Across Africa
The leadership transition comes at a time when UBA continues to strengthen its position as one of Africa’s leading financial institutions.
Popularly known as “Africa’s Global Bank,” UBA operates across 20 African countries, connecting businesses, governments and individuals to financial opportunities across the continent and beyond. Its international operations in the United Kingdom, the United States, France and the United Arab Emirates enable the Bank to facilitate global trade, investment and cross-border financial transactions.
The Bank remains a leader in retail, commercial and institutional banking while investing heavily in digital innovation to improve customer experience and promote financial inclusion across Africa.
With more than 25,000 employees serving over 50 million customers globally, UBA is also one of the continent’s largest employers in the financial services sector.
As Mr. Emmanuel N. Nnorom prepares to assume office on 21 August 2026, stakeholders across Africa’s banking industry will be watching closely as he builds on the solid foundation laid by Tony Elumelu and steers the institution into its next chapter of growth, innovation and regional leadership.
