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The United Bank for Africa – UBA Plc has revealed a significant change in leadership within its Board of Directors after the board meeting took place on July 6, 2026.

The financial organization announced that its Group Chairman, Tony O. Elumelu, will formally step down from the Board on August 21, 2026. This departure complies with the Central Bank of Nigeria’s – CBN corporate governance rules, which set a maximum 12-year term for non-executive directors.

Over the course of 12 years as leader, Elumelu led UBA through one of its most significant periods of expansion. Under his leadership, the bank’s total assets increased from N2.76 trillion in 2014 to N33.13 trillion by the end of the first quarter of 2026, marking a rise of over 1,100%. Currently, the banking group has broadened its dynamic pan-African presence to include 20 African nations and four international financial hubs, catering to over 50 million clients.

Assuming the position of Group Chairman on August 21, 2026, is Emmanuel N. Nnorom, a well-experienced business leader and current Non-Executive Director on the UBA Board. Showing confidence in his replacement, Elumelu referred to Nnorom as a person of integrity, experience, and good judgment. In reaction to his appointment, Nnorom mentioned that he feels privileged by the trust given to him and is eager to collaborate across all markets to maintain UBA’s progress and provide lasting value to stakeholders.

The change in leadership guarantees ongoing stability for the lender, as Nnorom has a strong history in financial services, governance, and auditing. His previous roles within the larger corporate group have centered on structured corporate governance and responsible investing. This strong grasp of the institution equips him to lead the board and oversee the strategic direction during UBA’s upcoming stage of international expansion.

Nairametrics

About Emmanuel N. Nnorom

Emmanuel Nwabuikwu Nnorom was born in Nigeria on April 7, 1958, and spent his childhood in Ovim, where he developed strong connections with his community. His early years in post-independence Nigeria were significantly influenced by his dedication to Christianity, eventually leading him to serve as an elder in the Presbyterian Church in Yaba. He is married to Florence Ihuoma Nnorom and has four children.

Nnorom’s professional background includes graduating from Templeton College (now integrated into Green Templeton College) at the University of Oxford. He is also a fellow of the Institute of Chartered Accountants of Nigeria – ICAN—having won a prize during his training in 1983—and the Chartered Institute of Bankers of Nigeria – CIBN.

Nnorom has accumulated more than 40 years of expertise in the financial sector, accounting, and corporate management. He is currently the Group Chief Executive Officer at Heirs Holdings and has previously occupied several high-level executive positions, such as President and CEO of Transnational Corporation of Nigeria Plc – Transcorp, Chairman of Transcorp Hotels Plc, and Chairman of Afriland Properties Plc.

Significantly, his background with UBA involves serving as its Chief Operating Officer, during which he oversaw international operations spanning 18 African nations. His broad experience on boards and in operational roles across various sectors such as power, energy, hospitality, and finance highlights his readiness to assume his new position as UBA’s Group Chairman.