Former Group Managing Director/CEO, United Bank for Africa, Plc, UBA, Tony Elumelu, returned to the Bank, on Monday, as its Chairman. Elumelu succeeded the former chairman, Ambassador Joe Keshi, through a UBA Board decision.
“I am very much looking forward to returning to the Group,” said Elumelu, who stepped down from his previous appointment following a Central Bank of Nigeria, CBN, policy barring banks CEO from holding office for more than 10 years. Elumelu, an influential banker in the country, founded Heirs Holdings, a pan-African proprietary investment company with stakes in a number of leading African businesses, including Transcorp. He is also reputed to have spearheaded the growth recorded by the UBA Group as a financial institution of reckoning in and outside Nigeria.
Elumelu’s successor as GMD/CEO, Phillip Oduoza said the new chairman’s track record speaks for itself. “His return to the Board brings a depth of knowledge and experience…at this critical stage of our development,” Oduoza said.