The United Bank for Africa (UBA) Plc has announced the appointment of Emmanuel Nnorom as its next Chairman, succeeding Tony Elumelu, who will retire on August 21 after completing the maximum 12-year tenure for non-executive directors allowed under Central Bank of Nigeria (CBN) regulations.
Here are seven things to know about the incoming UBA chairman:
1. He succeeds Tony Elumelu as UBA Chairman
Nnorom will officially assume office on August 21, taking over from Tony Elumelu, who is stepping down after serving the maximum 12-year tenure permitted for non-executive directors under CBN guidelines.
2. He previously held several top leadership roles at UBA
Before joining UBA’s Board as a Non-Executive Director in 2024, Nnorom spent more than eight years in executive management, serving 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.
3. He helped expand UBA’s presence across Africa
As Managing Director and Chief Executive Officer of UBA Africa in 2013, Nnorom supervised the bank’s operations in multiple African countries, playing a key role in strengthening its pan-African expansion strategy.
4. He currently leads Heirs Holdings
Since June 2017, Nnorom has served as the Group Chief Executive Officer of Heirs Holdings, where he oversees investments across financial services, power, healthcare, hospitality, real estate, energy and technology.
5. He previously headed Transcorp
Before joining Heirs Holdings, Nnorom was President and Chief Executive Officer of Transnational Corporation Plc (Transcorp) from September 2014 to May 2017, overseeing the conglomerate’s investments in power, hospitality, agriculture and energy.
6. He has decades of banking and corporate leadership experience
Widely regarded as one of Nigeria’s leading corporate executives, Nnorom has built a career spanning several decades in banking, investment and business management, holding senior leadership positions in some of the country’s biggest organisations.
7. He will chair one of Africa’s biggest banks
From August 21, Nnorom will lead UBA, one of Africa’s largest financial institutions, with operations in more than 20 African countries as well as key international markets, including the United Kingdom, the United States, France and the United Arab Emirates.
