By Nchetachi Chukwuajah
Following the announcement of the retirement of Tony Elumelu, the Group Chairman of United Bank for Africa (UBA) Plc, from the board of directors on August 21, 2026, the bank named a current Non-Executive Director on the board, Emmanuel Nnorom, as its incoming Group Chairman.
The bank disclosed this on Monday, July 6, during its board meeting, noting that the process was necessary after the completion of the maximum 12-year tenure for Non-Executive Directors prescribed by the Central Bank of Nigeria (CBN).
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.
“The bank currently serves more than 50 million customers across its network. His retirement comes as Nigerian banks continue to align with the CBN’s corporate governance guidelines, which impose a maximum tenure of 12 years for non-executive directors to strengthen board independence and governance standards.”
Nnorom, a long-serving Non-Executive Director on the board of UBA, is a seasoned banking executive with a career spanning banking, investment, and corporate management.
In this article, Impact Nigeria Newspaper highlights important things to know about the incoming UBA Group Chairman.
Birth
Born Emmanuel Nwabuikwu “Emma” Nnorom on April 7, 1958, he is regarded as one of Nigeria’s most experienced corporate executives, with over 40 years of corporate leadership experience.
Education
Nnorom attended Templeton College, Oxford, where he completed executive leadership and management programmes.
Career trajectory
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.
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.
Achievements across UBA, Heirs Holdings, and Transcorp
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.
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.
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.
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.
Before joining UBA
Emmanuel 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.
Professional associations
Nnorom is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an Honorary Member of the Chartered Institute of Bankers of Nigeria (CIBN).
