United Bank for Africa (UBA) Plc announces that its Group Chairman, Tony Elumelu, will retire from the bank’s Board of Directors on 21 August 2026. The bank says the change follows the completion of the maximum 12-year tenure allowed for non-executive directors under Central Bank of Nigeria (CBN) corporate governance guidelines. UBA reports that the board accepts Elumelu’s retirement at a meeting held earlier and then elects Emmanuel Nnorom, a non-executive director, as the incoming chairman. Nnorom’s appointment takes effect on 21 August 2026, when Elumelu’s term ends. Across the reports, UBA frames the transition as a routine governance matter tied to CBN rules on board tenure, rather than a performance-related departure. Some outlets also add background on Nnorom’s experience in banking, finance and audit, noting his long career and role as a UBA non-executive director prior to the appointment. The reports consistently state that Elumelu’s exit ends a chairmanship period of about 12 years and that the bank expects continuity under Nnorom’s leadership.