Tony Elumelu has announced he will step down as Chairman of the United Bank for Africa (UBA) Group Board on August 21, 2026, bringing to an end a 12-year tenure in the role and decades of service to the pan-African financial institution.
In a farewell message published on his official blog, Elumelu reflected on his vision of building a strong African institution capable of outlasting individual leaders while driving economic growth across the continent.
He said his goal was to transform UBA into a world class financial institution that would connect Africa to itself and the rest of the world, create opportunities for businesses, empower entrepreneurs, support governments, reward shareholders, and improve lives.
According to him, that vision has become a reality, with UBA now serving more than 50 million customers, operating in 20 African countries and across four continents.
Elumelu noted that the bank’s achievements were made possible through the collective efforts of employees, management, directors, customers, regulators, shareholders, and business partners who shared the institution’s mission.
He also announced Mr. Emmanuel N. Nnorom as his successor, expressing confidence in his ability to provide continuity and strategic leadership for the bank’s next phase of growth.
Elumelu urged shareholders, customers, partners, and the UBA family to extend the same trust and support to Nnorom that they had given him throughout his tenure.
The outgoing chairman described institution-building as critical to Africa’s long-term development, stressing that the continent’s challenge is not a lack of talented people but a shortage of enduring institutions capable of sustaining progress across generations.
