• Emmanuel Nnorom, incoming board chairman , and the outgoing Chairman, United Bank for Africa Plc, Tony Elumelu…Photo Credit: Tony Elumelu

United Bank for Africa Plc has announced that Mr. Tony O. Elumelu, Group Chairman of UBA, will retire from the Board of Directors of UBA on 21 August 2026.

Alero Ladipo Group Head, Marketing and Corporate Communications United Bank for Africa Plc, said that Elumelu was retiring

At its meeting held on 6 July 2026, the Board accepted Mr. Elumelu’s retirement and elected Mr. Emmanuel N. Nnorom, a Non-Executive Director of the Bank, as his successor, with effect from 21 August 2026.

The Board places on record its profound appreciation to Mr. Elumelu for his visionary leadership and exceptional contribution to the strategic vision and institutional strength of the UBA Group.

Mr. Elumelu’s tenure has been a defining chapter in the Group’s history. Under his stewardship, UBA was transformed into a pan African institution, operating in 20 African countries and 4 global financial centres and serving over 50 million customers.

Mr. Nnorom is a chartered accountant with over forty years’ experience in banking, finance and audit. He brings to the role extensive leadership experience and deep institutional knowledge of UBA.

Commenting on his retirement, Mr. Tony O. Elumelu:

“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.”

Mr. Emmanuel N. Nnorom, on his appointment, said:

“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.”

United Bank for Africa Plc is Africa’s Global Bank. Operating across twenty African countries and in the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

UBA is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 50 million customers globally.

Dangote Cement Plc has unveiled a sustainability roadmap aimed at reducing its carbon emissions by 20 percent and expanding its installed production capacity to 80 million tonnes per annum (MTPA) by 2030.

The plans were announced during the company’s 17th Annual General Meeting (AGM) in Lagos, where Chairman, Emmanuel Ikazoboh, presented the 2025 Sustainability Scorecard to shareholders and reaffirmed the company’s commitment to embedding environmental, social and governance (ESG) principles at the core of its operations in line with Dangote Industries Limited’s Vision 2030.

Ikazoboh said sustainability had evolved from a compliance obligation into a central business strategy designed to drive growth, resilience and long-term value creation.

As part of its decarbonisation agenda, the company disclosed that it approved plans in 2024 to reduce its net carbon dioxide (CO₂) emissions intensity by 20 percent while accelerating the transition to cleaner transportation.

He said, “By 2027, all fleet trucks operating in Nigeria, except at the Gboko plant, will run on Compressed Natural Gas (CNG), with electric trucks scheduled for introduction in 2026.”

Latest data from the S&P Global Commodity Insights, indicates that Dangote Petroleum Refinery exported about 466,000 metric tonnes of jet fuel to Europe in June, valued at an estimated N757 billion.

According to the market report, the refinery’s exports came as the European jet fuel market turned increasingly bearish following a sharp decline in prices from the highs recorded during the Middle East conflict.

The report stated that flows of jet fuel from Nigeria to Europe rose from 232,000 metric tonnes in May to 466,000 metric tonnes in June, the highest volume exported from the country to Europe since Nigeria became a net exporter of jet fuel in 2024, when the Dangote Refinery commenced aviation fuel production.

The June export volume is equivalent to about 582.5 million litres of jet fuel. At an estimated domestic value of N1,300 per litre, the shipment is worth about N757.25 billion.

On the other hand, aviation fuel exports from the United States fell sharply in the past months.

The report showed that jet fuel exports from the United States to Europe declined steadily over the same period, falling from a record 818,000 metric tonnes in April to 560,000 metric tonnes in May and further to 399,000 metric tonnes in June, leaving Nigeria as a bigger supplier to Europe during the month.