UBA Chairman Tony Elumelu to Step Down in August After 12-Year Tenure Limit
Tony Elumelu will retire as UBA Chairman on August 21, 2025, due to the CBN’s 12-year tenure limit for non-executive directors, marking the end of a transformative era of pan-African and global expansion. His successor, Emmanuel Nnorom, brings over 40 years of banking and audit experience, signaling a seamless leadership transition focused on continuity and long-term shareholder value. The key takeaway is that Nigeria’s strict corporate governance regulations are actively reshaping board leadership at major banks, enforcing term limits even for iconic founders. For investors and stakeholders, this change underscores UBA’s institutional stability and commitment to regulatory compliance, with Nnorom’s deep expertise poised to sustain the bank’s competitive momentum.










