Tony Elumelu will officially step down as the Group Chairman of United Bank for Africa (UBA) Plc on August 21, 2026.
Key Details of the Transition
- The Reason: Elumelu reached the mandatory 12-year maximum tenure limit for non-executive directors. This rule is strictly enforced by the Central Bank of Nigeria (CBN).
- His Successor: Current non-executive board director Emmanuel N. Nnorom will become the new Group Chairman. His appointment takes effect on August 21, 2026.
- Nnorom's Background: He is a chartered accountant. He possesses over 40 years of experience spanning banking, finance, and auditing.
- Elumelu's Legacy: He chaired UBA from 2014 to 2026. He grew the bank's presence to 20 African nations, 4 global hubs, and 50 million customers.
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