Tony Elumelu will step down as Group Chairman of United Bank for Africa (UBA) on August 21, 2026, following the completion of his maximum 12-year tenure as mandated by the Central Bank of Nigeria. Under his leadership, UBA expanded into 20 African nations and reached an asset base exceeding 33 trillion Naira. Emmanuel N. Nnorom, a long-serving director with extensive experience at UBA and Transcorp, will succeed him as Chairman to ensure strategic continuity. Elumelu plans to pivot his focus toward real-sector industrialization, energy security, and power infrastructure, including assuming the chairmanship of Seplat Energy in 2027 and maintaining his leadership at Transcorp Group.