UBA appoints Chukwuma Nweke as Deputy Managing Director

By Oluwaseyi Lawal

United Bank for Africa (UBA) Plc has announced a key development within its Board of Directors, appointing Mr. Chukwuma Nweke as the new Deputy Managing Director, effective October 1, 2024.

This information was made public in a statement submitted to the Nigerian Exchange (NGX), signed by the bank’s secretary and legal counsel, Bili Odum. The announcement also highlighted the retirement of Dr. Kayode Fasola, a Non-Executive Director.

The bank clarified that Mr. Nweke’s appointment as Deputy Managing Director is subject to approval by the Central Bank of Nigeria (CBN).

The statement read: “United Bank for Africa Plc (UBA), Africa’s Global Bank, announces the appointment of Mr. Chukwuma Nweke as Deputy Managing Director, effective October 01, 2024. This appointment is subject to regulatory approval by the Central Bank of Nigeria.”

According to the bank, Mr. Nweke holds a bachelor’s degree in Accountancy and an MBA from the University of Nigeria, Nsukka. He is also a Fellow of the Institute of Chartered Accountants of Nigeria (FCA) and an honorary member of the Chartered Institute of Bankers of Nigeria.

The statement highlighted that the newly appointed executive brings over 30 years of experience across diverse areas, including banking operations, finance, technology, audit, strategy, retail banking, and payments. He previously served as Executive Director and Group Chief Operating Officer at UBA.

Commenting on the appointment, the Bank’s Chairman, Mr. Tony Elumelu, emphasized that Mr. Nweke’s extensive industry knowledge would further strengthen the Group’s growth and achievements.

“The appointment of Chukwuma Nweke underscores UBA’s commitment to upholding the highest governance and operational leadership standards. His deep industry expertise and proven track record make him an invaluable asset to our Board, and we are confident that his contributions will further bolster the Group’s growth and success,” Mr. Elumelu said.

The bank also announced the retirement of Dr. Kayode Fasola, a Non-Executive Director who joined UBA Group’s Board in August 2018. During his tenure, Dr. Fasola exhibited exceptional leadership, particularly as Chairman of the Finance & General Purpose Committee, while also serving on the Board Audit & Governance, Credit, and Statutory Audit Committees.

The UBA Board expressed its gratitude to Dr. Fasola for his dedication and significant contributions to the Group and wished him success in his future endeavors.