Nigeria, July 6 -- United Bank for Africa (UBA) Plc has announced that its Group Chairman, Tony Elumelu, will retire from the Board of Directors, effective 21 August, after serving at the bank since 2014.

The bank also appointed Emmanuel Nnorom as a Non-Executive Director on the board and as the incoming Group Chairman, effective 21 August.

The Group Head, Marketing and Corporate Communications, United Bank for Africa Plc, Alero Ladipo, confirmed the leadership change in a statement made available to PREMIUM TIMES on Monday.

The leadership transition was approved at the bank's board meeting held on Monday.

UBA said Mr Elumelu's retirement is in line with the Central Bank of Nigeria's (CBN) corporate governance guidelines, which set a ...