Emmanuel Nnorom, a long-serving Non-Executive Director on the board, and Chairman, United Bank for Africa Plc, Tony Elumelu...Photo Credit: Tony Elumelu
United Bank for Africa Plc has announced that its Group Chairman, Tony Elumelu, will retire from the Board of Directors of UBA on August 21, 2026.
The decision follows the completion of the 12-year tenure limit prescribed for non-executive directors of banks by the Central Bank of Nigeria.
This was contained in a statement issued by the bank and sent to The PUNCH on Monday. The statement, signed by the Group Head of Marketing and Corporate Communications for United Bank for Africa Plc, Alero Ladipo, noted that the financial institution is entering a new phase of strategic growth.
“At its meeting held on July 6, 2026, the board accepted Mr Elumelu’s retirement and elected Mr Emmanuel Nnorom, a Non-Executive Director of the bank, as his successor, with effect from August 21, 2026,” the statement read in part.
