UBA leadership change: Nnorom to succeed Elumelu as Group Chairman
At pan-African bank UBA, Tony Elumelu will retire from the board on August 21, 2026, with Nnorom stepping up as Group Chairman. Elumelu's departure follows the completion of the 12-year tenure limit set by the Central Bank of Nigeria for non-executive bank directors. The change marks a notable governance transition.
Pan-African banking group United Bank for Africa (UBA) has announced a change at the top of its board. Tony Elumelu, its long-serving chairman, will retire from the board of directors on August 21, 2026.
According to the announcement, Elumelu's departure follows the completion of the 12-year tenure limit prescribed by the Central Bank of Nigeria for non-executive directors of banks. Nnorom is set to take over as Group Chairman.
UBA is one of Africa's largest banks, with a wide branch network across the continent. The orderly transition, in line with corporate-governance rules, is being watched closely as a signal of the bank's stability and its adherence to the regulatory framework.
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