Bank hails Elumelu’s transformative leadership as Emmanuel N. Nnorom prepares to lead the next phase of growth.
United Bank for Africa (UBA) has announced that its Group Chairman, Tony Elumelu, will step down on August 21, 2026, after completing a 12-year tenure, with Emmanuel N. Nnorom appointed as his successor.
In a statement released on Monday, the bank praised Elumelu’s leadership, crediting him with transforming UBA from a Nigerian bank into “Africa’s Global Bank,” with operations across 20 African countries and a growing international presence.
Reflecting on his tenure, Elumelu said his vision was to build a world-class African financial institution capable of connecting the continent to global opportunities while empowering businesses, governments and communities. He noted that UBA now serves over 50 million customers and has become a key player in promoting trade and investment across Africa.
Welcoming the transition, Elumelu expressed confidence in Nnorom’s ability to lead the bank into its next phase of growth, describing him as an experienced leader with a deep understanding of the institution.
UBA also expressed appreciation for Elumelu’s contributions, stating that his leadership had positioned the bank among Africa’s most respected financial institutions. The bank said it remains committed to expanding its footprint, driving innovation and creating sustainable value across the continent under its new leadership.
Nnorom currently serves as Group Chief Executive Officer of Heirs Holdings and Chairman of Transcorp Hotels Plc. He also previously served as President and Chief Executive Officer of Transnational Corporation of Nigeria Plc (Transcorp).