Billionaire investor and philanthropist Tony Elumelu will step down as Group Chairman of United Bank for Africa on August 21, 2026.
The exit follows the Central Bank of Nigeria’s 12-year tenure limit for non-executive directors, which Elumelu will have completed.
Under his leadership since 2014, UBA expanded far beyond Nigeria. The bank now operates in 20 African countries and four global financial centres, with a customer base of more than 50 million.
The Board has named Emmanuel N. Nnorom as his successor. Nnorom is a long-serving Non-Executive Director and seasoned banking executive.
