Tony Elumelu to retire as UBA chairman after reaching CBN’s 12-year tenure limit

BREAKING: Tony Elumelu to retire as UBA chairman after reaching CBN’s 12-year tenure limit

Billionaire investor and Philanthropist, Tony Elumelu will retire as Group Chairman of UBA on August 21, 2026, after completing the 12-year tenure limit for non-executive directors set by the CBN.

Under his leadership, UBA expanded into a pan-African banking powerhouse with operations in 20 African countries and four global financial centres, serving more than 50 million customers.

The Board has named Emmanuel N. Nnorom, a long-serving Non-Executive Director and seasoned banking executive, as his successor.