Meet Emmanuel Nnorom poised to take over from Elumelu as UBA Chair

Emmanuel N. Nnorom will become Group Chairman of United Bank for Africa (UBA) Plc on August 21, 2026, succeeding Tony Elumelu, who is retiring after completing the maximum 12-year tenure for non-executive directors prescribed by the Central Bank of Nigeria (CBN).

The appointment, approved by UBA’s board on July 6, marks the beginning of a new leadership phase for the pan-African lender, which operates in 20 African countries and has international operations in the United Kingdom, the United States, France, and the United Arab Emirates.

Leadership transition

Elumelu, who has chaired UBA since 2014, said serving the lender had been one of the defining experiences of his career.

“Serving United Bank for Africa has been one of the great privileges of my career. UBA has established a unique competitive position across Africa and globally, and I leave the board with great confidence in UBA’s future,” he said.

He also endorsed his successor. “Emmanuel Nnorom is a leader of integrity, experience, and sound judgement, and I am confident that the Bank will continue to thrive under his leadership.”

A career built at UBA

Nnorom’s appointment brings him back to the institution where he spent more than eight years in executive leadership, playing a role in the bank’s expansion across Africa.

He served as managing director of UBA Africa, where he oversaw the group’s subsidiaries in 18 African countries and coordinated the execution of its regional strategy.

Before then, he held several executive positions within the bank, including group chief financial officer, group chief operating officer, executive director for finance, executive director for risk, and executive director in the group executive office.

Earlier in his career, he held senior management positions at Standard Trust Bank, which later merged with UBA, as well as Diamond Bank, Liberty Merchant Bank, and NUB International Bank. His responsibilities covered finance, operations, planning, regulatory affairs, technology, human resources, and corporate services.

From banking to investment leadership
After leaving UBA, Nnorom joined Heirs Holdings as President and Chief Operating Officer before becoming President and Chief Executive Officer of Transnational Corporation of Nigeria (Transcorp).

At Transcorp, he led the conglomerate’s businesses in power, hospitality, and energy, including Transcorp Power, Transcorp Hotels, and Transcorp Energy. He later returned to Heirs Holdings as Group Chief Executive Officer, overseeing investments across financial services, healthcare, infrastructure, real estate, hospitality, and energy.

He currently serves as a non-executive director on UBA’s board and is also a non-executive director of Avon Medical Practice Limited.

Nnorom is a chartered accountant with more than four decades of experience in banking, finance, auditing, and corporate governance.

He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), an Honorary Member of the Chartered Institute of Bankers of Nigeria (CIBN), and an alumnus of Templeton College, Oxford University. Throughout his career, he has served on the boards of companies in banking, healthcare, power, and hospitality.

Leading UBA’s next chapter

Nnorom assumes the chairmanship as UBA continues to expand its operations across Africa and international markets.

As chairman, he will provide board oversight on strategy, governance, and long-term growth while working with management to implement the bank’s business objectives.

Responding to his appointment, he said he would build on the bank’s progress.

“I am honoured by the trust the Board has placed in me and deeply conscious of the legacy I inherit. I look forward to working with my colleagues on the board, management, and our staff across all our markets to sustain UBA’s momentum and continue delivering long-term value to our shareholders, customers, and stakeholders,” he said.