Tony Elumelu retires as UBA Group Chairman on August 21, 2026, after completing the Central Bank’s twelve-year tenure limit. His departure ends a twelve-year chapter at United Bank for Africa, following years of leadership and strategic transformation across Africa.

The UBA board accepted Elumelu’s retirement during its July 6 meeting and appointed Emmanuel Nnorom as his successor from August 21. Under Elumelu’s stewardship, UBA developed into a pan-African institution operating across twenty African countries and four global financial centres.

The bank now serves more than fifty million customers, reflecting significant expansion during Elumelu’s tenure as Group Chairman. Elumelu first joined UBA’s leadership after previously transforming Standard Trust Bank into a major Nigerian financial services institution.

In 2005, he led Standard Trust Bank’s merger with UBA, creating one of Africa’s largest financial services institutions at that time. Beyond banking, Elumelu founded Heirs Holdings and the Tony Elumelu Foundation, supporting investments and entrepreneurship across Africa and beyond.

Meanwhile, Emmanuel Nnorom brings more than forty years of experience spanning banking, finance, auditing, and corporate leadership to UBA’s boardroom. Nnorom described his appointment as an honour and pledged to sustain UBA’s momentum while creating long-term value for stakeholders.

Throughout his tenure, Tony Elumelu helped strengthen UBA’s continental presence and positioned the institution for continued international growth. Speaking about his departure, Elumelu described serving UBA as one of his career’s greatest privileges and expressed confidence in Nnorom.

The leadership transition marks a significant moment for UBA as the bank begins another chapter under new boardroom leadership. UBA officially announced the retirement and Nnorom’s appointment, confirming the August 21 effective date and the completion of the 12-year tenure limit.

UBA also confirmed its current reach across 20 African countries, four global financial centres and more than 50 million customers.

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