Tony Elumelu Exits UBA Chairmanship August

Tony Elumelu Exits UBA Chairmanship August

 

OpenLife reports that Tony Elumelu is expected to exit the Board chairmanship of the United Bank for Africa, UBA August.

Breaking the news titled “Celebrating an African Institution: My Farewell from UBA,” on his Facebook page, Elumelu hints on his next move as reproduced below

 

 

Why create an institution?

To ensure that an institution can live long, grow ever stronger and deliver a vision.

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.

Africa does not have a shortage of brilliant women and men. Africa suffers a shortage of institutions that outlast brilliant women and men.

Today is a day of huge excitement – of potential delivered and continued opportunity.

Leadership is not about holding onto a position, but knowing when an institution is ready for the next chapter.

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.

My objective was to build an institution that would outlive individuals, one capable of connecting Africa to itself and the world, creating opportunities for businesses, empowering entrepreneurs, supporting governments, rewarding shareholders, and transforming lives. Together, we pursued the belief that Africa deserved a world-class financial institution that remained proudly African at its core. We set out to do something that had not been done. We took a Nigerian bank and we made it an African one, Africa’s global bank. This has been my vision for UBA – the United Bank for Africa.

Today, that vision is reality. UBA Group serves over 50 million customers, operates across 20 African countries and four continents, supports trade and investment, and demonstrates that an African institution can compete globally, while being deeply committed to our continent’s development.

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.

So, with great pride, I welcome Mr. Emmanuel N. Nnorom as the next Chairman of UBA. I have every confidence in his ability to lead the Bank. His experience, leadership, and deep understanding of our institution will provide the continuity and strategic direction needed to build on the strong foundation we have established. I ask our shareholders, customers, partners, and the entire UBA family to extend to him the same trust and support you have so generously given me over the years.