United Bank for Africa (UBA) Plc has announced that its Group Chairman, Mr Tony O. Elumelu, will retire from the Board of Directors on Aug. 21, 2026, upon completing the 12-year tenure limit for non-executive directors prescribed by the Central Bank of Nigeria (CBN).

The bank disclosed this in a statement issued following a meeting of its Board of Directors held on July 6.

According to the statement, the board accepted Elumelu’s retirement and elected Mr Emmanuel N. Nnorom, a Non-Executive Director of the bank, as his successor with effect from Aug. 21, 2026.

The board expressed appreciation to Elumelu for what it described as his visionary leadership and immense contributions to the growth and institutional development of the UBA Group.

It noted that under his leadership, UBA expanded into a leading pan-African financial institution with operations in 20 African countries and four global financial centres, serving more than 50 million customers.

The board described Elumelu’s tenure as a defining period in the bank’s history.

Nnorom, who will assume office as chairman upon Elumelu’s retirement, is a chartered accountant with more than 40 years of experience in banking, finance and auditing.

The statement said he brings extensive leadership experience and deep institutional knowledge of the bank to his new role.

Speaking on his retirement, Elumelu described serving UBA as one of the greatest privileges of his professional career.

“Serving United Bank for Africa has been one of the great privileges of my career.

“UBA has established a unique competitive position across Africa and globally, and I leave the Board with great confidence in UBA’s future.

“Emmanuel Nnorom is a leader of integrity, experience and sound judgement, and I am confident that the bank will continue to thrive under his leadership,” he said.

Responding to his appointment, Nnorom expressed gratitude to the board for the confidence reposed in him.

“I am honoured by the trust the Board has placed in me and deeply conscious of the legacy I inherit.

“I look forward to working with my colleagues on the Board, Management and our staff across all our markets to sustain UBA’s momentum and continue delivering long-term value to our shareholders, customers and stakeholders,” he said.

UBA operates in 20 African countries as well as the United Kingdom, the United States, France and the United Arab Emirates.

The bank provides retail, commercial and institutional banking services and serves more than 50 million customers globally, with a workforce of about 25,000 employees across its operations.

Zedvance Finance Limited has appointed Professor Pius ‘Deji’ Olanrewaju as Chairman of its Board of Directors, effective July 1, subject to the approval of the Central Bank of Nigeria (CBN).

Professor Pius ‘Deji’ Olanrewaju

The company disclosed this in a statement, describing the appointment as a significant step in strengthening its corporate governance structure and positioning the organisation for its next phase of growth.

According to Zedvance, the appointment reflects its commitment to building a robust governance framework capable of driving innovation, sustainable growth and long-term value creation for stakeholders.

The company said Olanrewaju brings extensive boardroom experience, leadership credentials and expertise in governance, strategy and organisational transformation to the role.

It noted that the strengthened board structure would enhance oversight and support the company’s strategic growth ambitions.

Speaking on his appointment, Olanrewaju expressed appreciation for the confidence reposed in him.

“I am honoured to assume the role of Chairman of the Board of Zedvance Finance.

“The company has established a strong reputation as a trusted financial partner, leveraging innovation and technology to create meaningful impact.

“I look forward to working with the board and management to support the company’s strategic aspirations and deliver sustainable value for our stakeholders,” he said.

Olanrewaju is a legal scholar, banking expert and corporate leader with more than four decades of experience spanning banking, finance, academia and institutional governance.

He holds degrees in Law, Arts and Social Sciences, including a Bachelor of Laws (LL.B), Bachelor of Laws (B.L.), Bachelor of Arts (B.A.), Master of Science (M.Sc.), Master of Laws (LL.M.) and a Doctor of Philosophy (Ph.D.).

He is a Fellow of the Chartered Institute of Bankers of Nigeria (FCIB), Fellow of the Institute of Capital Market Registrars (FIMA), Fellow of the Institute of Management and Administrative Technology (FCMR), and Fellow of the Enterprise Risk Management Professionals (FERP).

Olanrewaju is also a member of several professional bodies and served as the immediate past President and Chairman of the Council of the Chartered Institute of Bankers of Nigeria (CIBN).

During his more than 35 years of service to the institute, he held several strategic positions, including Chairman of its Capacity Building and Certification Committee.

He is currently a Professor of Banking Law at Babcock University, where he previously served as Provost and Dean of the School of Law and Security Studies.

He has authored and co-authored several academic publications and serves on the boards of a number of organisations, including Babcock University Microfinance Bank.

The company expressed confidence that his experience in strategic leadership, corporate governance and financial services oversight would support its long-term growth and institutional development.

Socio-Economic Rights and Accountability Project (SERAP) has given Godswill Akpabio, Senate President, and Tajudeen Abbas, speaker of the House of Representatives, seven days to explain how over N1.3 billion was allocated in the 2026 Appropriation Act to a presidential council that the Presidency has described as fictitious.

In a Freedom of Information (FoI) request dated July 4, 2026, SERAP asked the National Assembly leadership to release certified copies of all documents related to the approval of the N1,302,978,784 allocation to the Presidential Foreign Intervention Promotion Council (PFIPC)/Presidential Economic Advisory Council.

The rights group also called on the National Assembly to invoke its investigative powers under Sections 88 and 89 of the 1999 Constitution to probe the circumstances surrounding the allocation and identify those responsible for what it described as apparent irregularities in the budget process.

SERAP further requested records identifying the lawmakers and committees that considered the allocation, as well as the public officials or representatives who defended the budget proposal before the committees.

The civil organisation also sought clarification on whether the allocation originated from the Executive’s 2026 Appropriation Bill or was introduced during the legislative appropriation process.

It equally demanded to know whether any lawmaker questioned the legal status or operational mandate of the council before approving the allocation.

The FoI request follows a July 1 statement by the Presidency denying the existence of the Presidential Foreign Intervention Promotion Council and insisting that the Federal Government never created the body.

Describing the conflicting claims as alarming, SERAP said they raised “serious concerns regarding the integrity of Nigeria’s appropriations process, legislative oversight, public financial management, and accountability.”

The FoI request, signed by Kolawole Oluwadare, deputy director, SERAP, stressed that Nigerians have a constitutional right to know whether public funds were appropriated to an entity that does not legally exist.

SERAP said, “Nobody has a more sacred obligation to obey the law than those who make the law, and that the National Assembly has a constitutional responsibility not merely to approve the Executive’s budget proposals but to rigorously scrutinise them before authorising public expenditure.”

The organisation argued that disclosure of the requested documents would enable Nigerians to determine whether the National Assembly fulfilled its constitutional obligations under Sections 80, 81, 88, and 89 of the Constitution in approving the allocation.

SERAP warned that if the requested information is not released within seven days of receipt or publication of the letter, it would initiate legal proceedings to compel the National Assembly to disclose the documents.

The organisation further maintained that making the records public would strengthen confidence in the National Assembly’s credibility, enhance transparency in the appropriation process, and promote accountability in the management of public funds.

It also cited the Freedom of Information Act, the Nigerian Constitution, the African Charter on Human and Peoples’ Rights, the International Covenant on Civil and Political Rights, and the Tshwane Principles as legal bases for its demand for full disclosure.