Tony Elumelu to step down as UBA chair, bank names successor

United Bank for Africa Plc has announced that its group chairman, Tony Elumelu, will retire from the board of directors on August 21, 2026.

In a statement released shortly after the meeting, the bank said, “The Board places on record its profound appreciation to Elumelu for his visionary leadership and exceptional contribution to the strategic vision and institutional strength of the UBA Group.

“Under his chairmanship, UBA deepened its pan-African expansion strategy and now operates in 20 African countries, alongside operations in four global financial centres.

In the post titled, “Celebrating an African Institution: My Farewell from UBA,” he said, “I have never been able to look at Africa and see only borders. Where many see fifty-four separate markets, I saw one continent, one destiny — waiting to be transformed, waiting to be believed in.

“I conclude my tenure as Chairman of the Group Board of United Bank for Africa (UBA) on August 21, 2026, after twelve years and decades of association with this extraordinary institution, with profound gratitude, immense pride, and most importantly – great optimism for the future.”

“This success belongs to generations of dedicated colleagues, exceptional management, visionary directors, loyal customers, supportive regulators, committed shareholders, and partners who believed in our shared purpose.”