Things to know about Elumelu’s UBA successor, Emmanuel Nnorom

n n

Emmanuel Nnorom, a long-serving Non-Executive Director on the board of United Bank for Africa Plc and seasoned banking executive, has been appointed as the bank’s next Group Chairman, succeeding Tony Elumelu following his retirement.

n

The appointment, approved by the UBA Board, will take effect on August 21, 2026, when Elumelu steps down after completing the maximum tenure permitted for non-executive directors under the Central Bank of Nigeria’s corporate governance guidelines.

n

Here are 11 things to know about the incoming UBA chairman:

n

1. He has over four decades of corporate leadership experience

n

Nnorom has built a career spanning more than 40 years in banking, finance, audit, operations and corporate governance, serving in executive and board-level positions across some of Nigeria’s leading financial institutions and conglomerates.

n

2. He rose through the ranks at UBA

n

Before joining the UBA Board as a Non-Executive Director in 2024, Nnorom spent more than eight years in executive management at the bank. During that period, he served as Group Chief Operating Officer, Executive Director (Group Executive Office), Executive Director (Finance), Executive Director (Risk), and Managing Director/Chief Executive Officer of UBA Africa.

n

3. He led UBA’s African operations

n

As Managing Director/Chief Executive Officer of UBA Africa in 2013, Nnorom oversaw the bank’s operations across several African countries, helping to strengthen UBA’s pan-African presence.

n

4. He currently heads Heirs Holdings

n

Nnorom has served as Group Chief Executive Officer of Heirs Holdings since June 2017. In that role, he oversees the investment company’s portfolio spanning financial services, power, healthcare, hospitality, real estate, energy and technology.

n

5. He previously led Transcorp

n

Between September 2014 and May 2017, Nnorom served as President and Chief Executive Officer of Transnational Corporation Plc (Transcorp), overseeing the conglomerate’s businesses in power, hospitality, agriculture and energy.

n

6. He also served as President/COO of Heirs Holdings

n

Before taking over at Transcorp, he served as President and Chief Operating Officer of Heirs Holdings between January and August 2014, helping to drive the group’s investment strategy across key sectors.

n

7. He worked in several Nigerian banks before UBA

n

Nnorom’s banking career includes senior management positions at Standard Trust Bank (now UBA), Diamond Bank, NUB International Bank and Liberty Merchant Bank. His responsibilities covered finance, operations, planning, risk management, information technology, human resources and regulatory affairs.

n

8. He is a chartered accountant and banker

n

He is a Fellow of the Institute of Chartered Accountants of Nigeria and an Honorary Member of the Chartered Institute of Bankers of Nigeria.

n

9. He studied at Oxford

n

Nnorom attended Templeton College, Oxford, where he completed executive leadership and management programmes.

n

10. He was born in 1958

n

Born Emmanuel Nwabuikwu “Emma” Nnorom on April 7, 1958, he is regarded as one of Nigeria’s most experienced corporate executives, with a career spanning banking, investment and corporate management.

n

11. He will assume office in August

n

Nnorom will officially assume office as Group Chairman of UBA on August 21, 2026, succeeding Elumelu and becoming responsible for providing strategic leadership to the bank’s board as it continues its operations across Africa and international markets.

n n