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United Bank for Africa Plc announced that Group Chairman Tony Elumelu will retire on August 21, 2026The bank appointed Emmanuel Nnorom as the new Group Chairman, with his appointment taking effect on the same dayUBA credited Elumelu with expanding the bank to 20 African countries, four global financial centres, and more than 50 million customers
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Tony Elumelu, the group chairman of United Bank for Africa Plc, will resign from the company’s board on August 21, 2026, when he completes the 12-year limit permitted for non-executive directors under Nigeria’s Central Bank (CBN) guidelines for corporate governance.
The bank disclosed the group chairman’s upcoming exit on Monday, July 6, following its board meeting, where it appointed currently serving non-executive director Emmanuel Nnorom as the incoming Group Chairman from the same
