UBA Reshuffles Executive Board with New Appointments as Four Directors Retire

United Bank for Africa (UBA) Plc has announced the retirement of four Executive Directors, alongside the appointment of new board members, in a move aimed at strengthening its leadership team.

The development was disclosed in a notice filed with the Nigerian Exchange Group (NGX), where UBA is listed.

According to the statement signed by the Group’s Secretary and Legal Counsel, Bili A. Odum, the retirements take effect from January 1, 2026, following the completion of the directors’ tenures.

The bank noted that the disclosure aligns with NGX Rulebooks and the Securities and Exchange Commission (SEC) Act, which require listed companies to promptly inform shareholders, investors, and the public of any changes to their boards.

The retiring Executive Directors are Muyiwa Akinyemi, deputy managing director; Abiola Bawuah; Alex Alozie; and Sola Yomi-Ajayi.

Commenting on their exit, Group Chairman Tony Elumelu, CFR, commended the directors for their contributions to the bank’s growth and stability over the years.

“I express my sincere thanks and appreciation to the retiring Executive Directors for their years of dedicated service, steadfast commitment, and support to UBA. Each of them has made significant contributions to the growth and success of the UBA Group. On behalf of the Board, I commend their impact. They will always remain valued members of the UBA family and ambassadors of our values,” Elumelu said.

In the same notice, UBA confirmed that its Board has approved the appointment of three new Executive Directors, subject to the approval of the Central Bank of Nigeria (CBN). The appointments also take effect from January 1, 2026.

The new appointees are:

Emmanuel Lamptey, executive director, Digital Banking:
Lamptey is a seasoned banker with over 25 years of multinational and cross-functional experience spanning retail and corporate banking, asset management, securities brokerage, pensions, insurance, and microfinance.

He holds a Bachelor of Commerce degree from the University of Cape Coast, Ghana, is an alumnus of Harvard Business School, and a Fellow of the Association of Chartered Certified Accountants (ACCA), United Kingdom.

Tosin Adewuyi, Executive Director, Corporate Banking.
Adewuyi has more than 25 years of experience across Sub-Saharan Africa, including over 15 years in senior management roles. He has held FCA- and CBN-approved positions in London and Lagos. He is a Fellow of the Association of Chartered Certified Accountants (FCCA), holds a BA (Hons) in Economics and Accounting from the University of Manchester, and is an honorary member of the Chartered Institute of Bankers of Nigeria. He is also an alumnus of Wharton Business School.

Chidi Okpala, Executive Director, UBA Nigeria.
Okpala previously served as Executive Director for Payments, Group Integration, and Strategy at Heirs Holdings, where he provided leadership across the group’s payments business and strategic oversight of its technology and healthcare investments. He has over 20 years of banking experience and holds a B.Sc. in Finance, an MBA in Banking and Finance, and an MSc in Leadership and Strategy from London Business School.

Elumelu said the Board is confident that the new Executive Directors will build on the achievements of their predecessors and support the bank’s next phase of growth.

“I congratulate the incoming Executive Directors on their appointments. We are confident they bring the depth, experience, and execution capability needed to strengthen the foundation already in place and drive UBA’s future growth,” he stated.

UBA’s share price closed at ₦39.70 on Friday, December 12, 2025, representing a 0.7 per cent decline on the day. On a year-to-date basis, the stock ranks among the top 100 best-performing equities on the Nigerian Exchange.

UBA operates in 20 African countries, as well as the United Kingdom, the United States, France, and the United Arab Emirates. The group provides retail, commercial, and institutional banking services, with a strong focus on financial inclusion and technology-driven solutions.

Investors are expected to closely monitor the impact of the board changes as the bank prepares to release its fourth-quarter and full-year 2025 financial results.

The bank did not give further details on the reasons behind the retirement of the four board members. The position of Deputy Managing Director, previously held by Muyiwa Akinyemi, remains vacant.

The post UBA Reshuffles Executive Board with New Appointments as Four Directors Retire appeared first on Tech | Business | Economy.