Billionaire businessman and philanthropist Tony Elumelu will retire as Group Chairman of United Bank for Africa (UBA) on August 21, 2026, after reaching the Central Bank of Nigeria’s 12-year tenure limit for non-executive directors.
Elumelu, who has chaired the bank since 2014, oversaw UBA’s transformation into one of Africa’s leading financial institutions, expanding its presence to 20 African countries and four continents while growing its customer base to more than 50 million.
The Board has appointed Emmanuel N. Nnorom, a veteran Non-Executive Director and experienced banking executive, as the incoming Group Chairman, effective August 21, 2026.
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