Tony Elumelu will step down as Group Chairman of United Bank for Africa (UBA) on August 21, 2026, after reaching the Central Bank of Nigeria’s (CBN) 12-year tenure limit for non-executive directors.

The UBA Board has approved the appointment of Emmanuel Nnorom, currently a Non-Executive Director, as the incoming Group Chairman. His appointment will take effect on the same date, ensuring a seamless leadership transition.

Elumelu’s departure marks the end of a transformative era for UBA. Since assuming the chairmanship in 2014, he has played a pivotal role in expanding the bank’s pan-African footprint, driving strategic growth, strengthening corporate governance, and reinforcing UBA’s position as one of Africa’s leading financial institutions, with operations in 20 African countries and key global financial centres.

In his farewell remarks, Elumelu described leading the bank as one of the greatest privileges of his career and expressed confidence that UBA would continue its growth trajectory under the new leadership.

The transition comes as UBA positions itself for its next phase of expansion while maintaining continuity in its long-term strategy and commitment to delivering value to shareholders and customers.