THE United Bank for Africa (UBA) has announced that its Group Chairman, Tony Elumelu, will step down from the role on August 21, 2026, after serving for 12 years.
The bank also confirmed the appointment of Emmanuel N. Nnorom as his successor, marking the beginning of a new leadership chapter for one of Africa’s largest financial institutions.
In a statement released today, UBA commended Elumelu’s leadership, describing his tenure as a defining period in the bank’s history.
According to the institution, his vision and strategic direction transformed UBA from a predominantly Nigerian bank into a pan-African financial powerhouse with operations across multiple countries and a growing global presence.
The bank noted that under Elumelu’s leadership, UBA strengthened its position as “Africa’s Global Bank,” expanding opportunities for businesses across the continent while fostering innovation, resilience, and sustainable growth.
It also acknowledged his longstanding commitment to connecting African economies with global markets and creating lasting value for customers, shareholders, and communities.
Expressing appreciation for his contributions, UBA stated that Elumelu’s leadership had left an enduring legacy and positioned the institution for continued success.
The bank added that its long-term vision of driving trade, investment, and financial inclusion across Africa would remain firmly in place under the incoming leadership.
Reflecting on his departure in a social media post, Elumelu described the transition as a moment of gratitude, pride, and optimism.
He said his goal had always been to build an institution capable of thriving beyond individual leadership while serving as a bridge between Africa and the global economy.
He highlighted UBA’s remarkable growth over the years, noting that the bank now serves more than 50 million customers across 20 African countries and has operations spanning four continents.
According to him, the achievement reflects the collective efforts of the bank’s employees, management, board members, customers, shareholders, regulators, and partners who shared in its vision.
Elumelu also expressed confidence in Emmanuel Nnorom’s ability to lead the bank into its next phase of development.
He described the incoming chairman as an experienced business leader with a deep understanding of UBA’s operations and strategic direction, adding that his leadership would ensure continuity while driving further growth.
He encouraged shareholders, customers, and partners to give Nnorom the same level of support and trust they had extended throughout his own tenure.
Nnorom currently serves as the Group Chief Executive Officer of Heirs Holdings and is Chairman of Transcorp Hotels Plc.
He previously led Transnational Corporation of Nigeria Plc (Transcorp Plc) as its President and Chief Executive Officer, bringing decades of executive and corporate leadership experience to his new role at UBA.
