United Bank for Africa Plc (UBA) has announced a significant reorganization of its management team, informing the Nigerian Exchange that four executive directors will be retiring and three new executive directors will be appointed with effect from January 1, 2026, subject to regulatory approval.
In a Board Notice on Friday, December 12, 2025, UBA confirmed that the affected executives are leaving at the end of their terms of office, marking a transition to the top echelons of one of Africa’s largest banking groups.
Four managing directors retire
The officers who will be retiring are as follows.
Mr. Muyiwa Akinyemi, Vice President
Abiola Baur, Executive Director
Alex Alozi, Executive Director
Mr. Sola Yomi Ajayi, Executive Director
Commenting on the departure, UBA Group Chairman Tony O. Elumelu (CFR) praised the outgoing management team for their achievements and their impact on the Group’s growth.
“Each of them has made a significant contribution to the growth and success of the UBA Group,” Elumelu said, adding that they will continue to be “valued members of the UBA family and enduring ambassadors of the values and standards we represent.”
Appointment of new executive officers
The board also approved the appointment of three new executive officers who will strengthen UBA’s leadership in digital banking, corporate banking and Nigeria operations.
Emmanuel Lamptey has been appointed Executive Director of Digital Banking. He has 25 years of multinational banking experience spanning retail and corporate banking, wealth management, pensions, insurance and microfinance in over 30 African countries. Mr. Lamptey is an alumnus of Harvard Business School, a Fellow of the Institute of Chartered Accountants, and holds a Bachelor of Commerce from the University of Cape Coast, Ghana.
Tosin Adewi has been appointed Executive Director of Corporate Banking and has over 25 years of experience across sub-Saharan Africa, including senior management and regulatory approved positions in London and Lagos. A Fellow of the Institute of Certified Public Accountants and an alumnus of the Wharton Business School, Mr. Adewi leads major corporate finance, sovereign finance and structured finance practices and is known for building high-performing banking teams.
Chidi Okpala joins UBA Nigeria as Executive Director. Prior to his appointment, Mr. Okpara was Executive Director of Payments, Group Integration and Strategy at Heir Holdings. With over 20 years of banking experience, he brings deep expertise in payments, financial services innovation, corporate strategy and ecosystem development. He holds a degree from the London Business School and is a Sloan Fellow.
Positioning for the next stage of growth
Announcing the appointment, Elumelu said the board is confident that the new management team will build on the strong foundation laid by its predecessor and help drive UBA’s next phase of growth.
UBA operates in 20 African countries, the UK, US, France and the United Arab Emirates, serves more than 50 million customers worldwide and employs around 30,000 people across the group.
The appointment remains subject to approval by the Central Bank of Nigeria.
