ADVERTISEMENT

ADVERTISEMENT

Billionaire investor and philanthropist Tony Elumelu will retire as Group Chairman of United Bank for Africa (UBA) on August 21, 2026, after completing the maximum 12-year tenure for non-executive directors as prescribed by the Central Bank of Nigeria (CBN).

Elumelu assumed the chairmanship in 2014 and has overseen one of the most transformative periods in the bank’s history.

Under his leadership, UBA strengthened its position as one of Africa’s leading financial institutions, expanding its footprint to 20 African countries as well as key international financial centres in the United Kingdom, the United States, France and the United Arab Emirates.

The bank also grew its customer base to more than 50 million, accelerated its digital banking strategy, enhanced corporate governance standards, and reinforced its reputation as Africa’s global bank.

Throughout his tenure, Elumelu championed UBA’s pan-African expansion agenda, driving investments in technology, innovation, financial inclusion and cross-border banking.

His leadership helped position the bank as a major financier of trade, infrastructure and economic development across the continent, while maintaining a strong focus on sustainable growth and shareholder value.

Following his retirement, the Board has appointed Emmanuel N. Nnorom, a long-serving Non-Executive Director and seasoned banking executive, as the incoming Group Chairman.

Nnorom is expected to build on Elumelu’s legacy and lead the bank into its next phase of growth and innovation.

ADVERTISEMENT

ADVERTISEMENT

President Tinubu Will Commission Body of Benchers Building, Abuja Today

#FCTProjects2026
#FCTProjectsCommissioning

ADVERTISEMENT

ADVERTISEMENT

By Francesca Hangeior

The Nigerian Meteorological Agency has warned of a flash flood risk alert for the first dekad of July (July 1–10).

NiMET warns that widespread rainfall expected during the period could trigger flooding across 27 states as the country enters the peak of the rainy season.

In the advisory, NiMet attributed the heightened risk to the persistent rainfall experienced in June, which it said has left soils across much of the country unable to absorb additional precipitation.

“Following widespread rainfall recorded across many parts of Nigeria in June, soils have become heavily saturated, reducing their ability to absorb additional rainfall.

“As July marks the beginning of the peak rainy season, the risk of flash flooding is expected to increase, particularly in low-lying, urban, coastal, and poorly drained areas,” the Sunday statement read.

According to the agency, states likely to experience flash flooding during the period include “Taraba, Sokoto, Borno, Zamfara, Kebbi, Katsina, Kaduna, Nasarawa, Plateau, Adamawa, Kwara, Kogi, Oyo, Ogun, Lagos, Osun, Ekiti, Delta, Edo, Abia, Imo, Anambra, Enugu, Akwa Ibom, Cross River, Rivers and Bayelsa.”

It warned that the anticipated heavy rainfall could have far-reaching consequences for transportation, public utilities, agriculture, infrastructure and public health.

The weather agency asserted that the heavy rainfall could “trigger localized flooding, resulting in traffic gridlock, road closures and disruptions to transportation.”

The agency also cautioned that “temporary power and telecommunications outages may occur in affected areas, while poor visibility during intense rainfall could pose risks to motorists and aviation operations.”

The forecast further highlighted the potential for waterlogging of farmlands, with possible crop losses, as well as damage to roads, bridges, drainage infrastructure and other public facilities.

Health officials were also urged to remain vigilant over the increased risk of waterborne diseases associated with stagnant floodwaters and poor sanitation.

To minimise the impact of the expected flooding, NiMet urged residents and emergency responders to take preventive measures without delay.

The agency advised Nigerians to: “Follow weather forecasts and flash flood advisories issued by NiMet; keep drains, gutters, and waterways free of refuse to ensure the free flow of water.

“Also, it said it should secure loose outdoor objects and reinforce vulnerable structures; and avoid walking or driving through floodwaters.”