Tony Elumelu Steps Down As UBA Group Chairman
Tony Elumelu officially retires as the Group Chairman of United Bank For Africa (UBA) PLC .
The retirement will take effect on August 21, 2026, where he will hand over to his successor, Emmanuel Nnorom.
The decision was announced by the UBA board of directors on July 6, 2026.
Reason For His Retirement
His stepping down was powered by the rules and regulations of the Central Bank of Nigeria (CBN).
The CBN rule states that the maximum tenure limit for non executive directors, which Tony Elumelu completed this year is 12 years.
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Who Is The Next UBA Group Chairman (Successor)
The UBA board of directors have elected and declared Emmanuel Nnorom as the next UBA Group Chairman as Tony Elumelu finally steps down.
Emmanuel Nnorom is a chartered accountant with over 45 years experience in banking, accounting and financial management.
His tenure will officially start on August 21,2026.
Tony Elumelu Next Career
While Tony Elumelu steps down as Chairman of United Bank For Africa, He still controls the affairs of his company.
He is also elected as the incoming Chairman of Seplat Energy, which he will officially assume on January 1, 2027.
He pilot the affairs of Heirs Holding and Transcorp Group.
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He is also a renowned Philanthropist, expanding the youth Empowerment across the world through the Tony Elumelu Foundation
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