Elumelu To Step Down As UBA Chairman, Nnorom Named Successor

Tony Elumelu

Elumelu To Step Down As UBA Chairman, Nnorom Named Successor

United Bank for Africa (UBA) has announced a significant leadership transition. Tony Elumelu, who has served as Group Chairman for twelve years, will step down on August 21, 2026.

Emmanuel N. Nnorom has been named as his successor, marking the beginning of a new chapter for one of Africa’s most prominent financial institutions.

UBA’s statement paid tribute to Elumelu’s transformative leadership, crediting him with expanding the bank’s reach from a Nigerian institution into what it now proudly calls “Africa’s Global Bank.”

Under his stewardship, UBA grew to serve over 50 million customers across 20 African countries and four continents, connecting businesses and economies through innovation, resilience, and purpose.

The bank emphasized that Elumelu’s vision proved that an African institution could compete confidently on the global stage.

In his farewell remarks, Elumelu described the transition as one filled with gratitude, pride, and optimism. He highlighted his objective of building an institution that would outlive individuals, one capable of empowering entrepreneurs, supporting governments, rewarding shareholders, and transforming lives.

He noted that leadership is not about holding on to a position but recognizing when an institution is ready for its next chapter. Reflecting on UBA’s journey, he stated: “We took a Nigerian bank and we made it an African one, Africa’s global bank. Today, that vision is reality”.

Elumelu expressed confidence in Emmanuel Nnorom’s ability to lead UBA into its next phase of growth. He praised Nnorom’s experience, leadership, and deep understanding of the institution, assuring stakeholders that continuity and strategic direction would be maintained.

He also urged shareholders, customers, and partners to extend the same trust and support to Nnorom that he himself had enjoyed during his tenure.

Nnorom brings a wealth of experience to the role. He currently serves as Group Chief Executive Officer of Heirs Holdings and Chairman of Transcorp Hotels Plc. He is also a former President and CEO of Transnational Corporation of Nigeria Plc (Transcorp Plc).

His appointment signals UBA’s commitment to sustaining its vision of enabling trade and investment, empowering communities, and creating sustainable value across Africa and beyond.

This transition underscores UBA’s enduring ambition to remain Africa’s leading financial institution. As Elumelu steps aside, the institution continues with renewed confidence, guided by the same vision that has shaped its remarkable journey