By Kazeem Ugbodaga
United Bank for Africa (UBA) Plc has announced that its Group Chairman, Tony O. Elumelu, will retire from the Board of Directors on August 21, 2026, after completing the maximum 12-year tenure for non-executive directors prescribed by the Central Bank of Nigeria (CBN).
The bank disclosed the development in a statement on Monday, saying its Board approved the transition at a meeting held on July 6, 2026, and elected Emmanuel N. Nnorom, a Non-Executive Director, as the new Group Chairman with effect from August 21.
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UBA described Elumelu’s tenure as one of the most significant in the institution’s history, crediting him with steering the bank’s transformation into a leading pan-African financial institution with operations in 20 African countries and four global financial centres.
The lender said the bank now serves more than 50 million customers, attributing much of its growth and continental expansion to Elumelu’s strategic
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