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Elumelu Quits as UBA Chairman, Nnorom Takes Over

By Oluwaseyi precious

July 7, 2026

United Bank for Africa (UBA) Plc has announced the retirement of its Group Chairman, Tony Elumelu, from the Board of Directors, effective August 21, 2026.

His retirement follows the completion of the 12-year maximum tenure for non-executive directors as stipulated by the Central Bank of Nigeria’s corporate governance guidelines.

The Board has appointed Emmanuel Nnorom, a Non-Executive Director, as the new Group Chairman. His appointment will take effect on August 21, 2026.

The Board praised Elumelu for his visionary leadership, noting that under his chairmanship, UBA expanded into 20 African countries and four global financial centres, growing to serve more than 50 million customers.

Commenting on his retirement, Elumelu described serving UBA as one of the greatest privileges of his career and expressed confidence that the bank would continue to grow under Nnorom’s leadership.

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