United Bank for Africa (UBA) has announced that Billionaire Investor and Philanthropist Tony O. Elumelu will officially retire as Group Chairman on August 21, 2026.
His retirement aligns with the Central Bank of Nigeria’s (CBN) regulatory limit, which caps the service of non-executive directors at three four-year terms.
Tony Elumelu’s 12-year leadership has been nothing short of historic.
Since taking the helm in 2014, he transformed UBA into a pan-African banking titan, expanding operations across 20 African countries and key global financial hubs.
Under Tony Elumelu’s guidance, UBA’s customer base surged to 50 million, while its balance sheet grew by an astronomical 1,100%, hitting a staggering ₦33.13 trillion.
Succeeding him is Emmanuel N. Nnorom, a seasoned banker with deep roots within the UBA ecosystem, effective August 21.
Both leaders have expressed strong confidence in UBA’s capacity to navigate ongoing economic challenges smoothly.
