United Bank for Africa Plc has notified The Exchange that it has appointed Mr. Tony O. Elumelu as Chairman of the Board of Directors of the Bank, replacing Ambassador Joe Keshi. He rang the closing bell on the Nigerian Stock Exchange today
Mr Tony Elumelu, an economist, banker, investor and philanthropist is the Chairman of both Heirs Holdings and Transnational Corporation of Nigeria Plc. He is also the founder of the Elumelu Foundation, an Africa based and African funded philanthropy dedicated to the promotion and celebration of excellence in business leadership and entrepreneurship across Africa. Elumelu holds a national honour Commander of the Order of Nigeria (CON) and a member of the Global Advisory Board of the United Nations Sustainable Energy for All Initiative
Recall, last month Jim Ovia was also announced as Chairman of Zenith Bank. Mr Elumelu and Mr Ovia both left their positions as MD after former CBN Governor Sanusi put a 10 year term limit to the position of a Bank MD.