United Bank for Africa (UBA) is set to change its board leadership as Group Chairman Tony O. Elumelu retires on 21 August 2026 after completing the maximum 12-year tenure for non-executive directors set out in Central Bank of Nigeria (CBN) corporate governance guidelines. Multiple reports say UBA’s board leadership change follows Elumelu’s scheduled exit from the bank’s board of directors upon reaching the tenure limit. The bank has named Emmanuel Nnorom, an executive at Heirs Holdings, as the incoming Group Chairman to succeed Elumelu. Several outlets describe the succession as part of routine compliance with Nigeria’s banking governance rules rather than a sudden departure, noting that the retirement date aligns across the coverage. Reports also indicate the decision is communicated through formal channels, including filings with the Nigerian Exchange (NGX), and that UBA publicly confirms both the retirement and the appointment. Other coverage additionally references Elumelu’s broader business interests, but the central, shared developments across outlets are the retirement date, the reason tied to the CBN tenure cap, and Nnorom’s appointment as chairman.