Nigerian businessman Tony Elumelu to retire as UBA chairman, Nnorom to take over
Tony Elumelu will step down as UBA Group chairman on August 21 after 12 years, with veteran banker Emmanuel Nnorom named as his successor.
United Bank for Africa
UBA shares drop 10% in early morning trading as investors punish the bank for withholding dividends, wiping N34.7 billion off Tony Elumelu's stake
UBA shares fell 10% Monday after the bank declared no final dividend for FY2025, erasing N34.7 billion from Tony Elumelu's stake in a single morning session.
Tony Elumelu's UBA posts N405 billion profit in 2025
UBA posted N405 billion profit in 2025, down 47% from N767 billion in 2024, as the FX trading gains that padded last year's earnings reversed sharply.
Tony Elumelu's UBA overhauls agency network to capture Nigeria’s booming POS market
UBA rolls out a new aggregator framework and RedPay incentives to expand agency banking and deepen its digital payments footprint.
United Bank for Africa posts $363.5 million Q3 profit, deepens capital base
United Bank for Africa reported N538bn profit after tax for Q3 2025, with assets climbing to N32.5trn and shareholders’ funds up 26%, reflecting strong performance and robust capitalisation.
Tony Elumelu’s UBA stake falls below $60 million
Elumelu faced a similar setback in 2024 when UBA’s 32.55% stock gain was erased by naira devaluation, cutting his stake’s value $17 million.
UBA expands, set to begin full operations in France
The deal positions UBA under the leadership of Tony Elumelu as a bridge between Africa and the broader global financial ecosystem.
UBA posts $320.9-million profit in 9M 2024
This growth was bolstered by improved fee income and robust foreign exchange earnings, highlighting UBA's adaptability in volatile markets.
UBA CEO Oliver Alawuba’s stake tops $1.4 million after new acquisition
Alawuba, who leads one of Africa's most transformative financial institutions, continues to grow both the bank's operations and his personal fortune this year.
Nigerian tycoon Tony Elumelu’s UBA delivers $102.25-million profit in Q1 2024
Under Elumelu’s leadership, UBA’s total comprehensive income for the period also rose, from N51.03 billion ($36.56 million) to N581.47 billion ($416.7 million).
Nigerian tycoon Tony Elumelu’s UBA to reward shareholders with $63-million dividend
The leading lender, led by Elumelu, one of Africa’s most influential business figures, reported a stellar 257 percent increase in profit to N607.7 billion ($468.8 million).
Nigerian businessman Tony Elumelu’s UBA reports $468.8-million profit in 2023
The substantial surge in profit was driven by higher interest income and a notable increase in foreign exchange earnings throughout the year.
Nigerian businessman Tony Elumelu’s UBA stake nears $50 million
As his stake in UBA approaches $50 million, Elumelu’s influence and commitment to Africa’s economic prosperity remain undeniable.
Tony Elumelu advocates privatization of Nigeria’s electricity transmission lines
Elumelu urged the government to facilitate the transfer of idle gas assets or fields to capable Nigerian investors, fostering gas-related investments and efficient electricity production.
Nigerian tycoon Tony Elumelu urges private sector approach to unlock national asset value
Elumelu’s influence extends beyond his roles at UBA, where he serves as chairman, and other entities like Transnational Corporation of Nigeria Plc and Heirs Holdings.
Nigerian tycoon Tony Elumelu’s UBA secures $175-million facility from AfDB
The facility will enhance UBA’s capacity to finance crucial projects in Nigeria, with a focus on infrastructure, agriculture, and related value chains.