UBA appoints former executive Ibrahim Puri to board amid leadership transition
United Bank for Africa has appointed veteran banker Ibrahim Puri as a non-executive director, bringing him back to the board just as the lender prepares for a major change in its chairmanship and navigates a dip in first-quarter profits.
United Bank for Africa has named Ibrahim Ajimasu Puri as a non-executive director, subject to Central Bank of Nigeria approval. The Nigerian Exchange Limited disclosed the move on Thursday in a filing signed by Group Company Secretary and Legal Counsel Bili A. Odum.
The board refreshment arrives at a critical juncture for the lender. Group Chairman Tony O. Elumelu is stepping down on August 21, 2026, after reaching the 12-year tenure limit for non-executive directors, with Emmanuel N. Nnorom set to take over the role.
Elumelu noted that the incoming director’s background would bolster the institution's strategic direction. “The Board is confident that his extensive experience, depth of expertise and sound judgement will further strengthen the Board and contribute meaningfully to the continued growth and success of the Group,” he stated.
Puri returns to the bank after previously serving as an executive director until his retirement in 2022. He brings more than 35 years of cross-sector expertise covering banking, fintech, telecommunications and fast-moving consumer goods. His specific professional skills include structured finance, negotiation, corporate governance and business turnaround management.
Currently, he holds non-executive board seats at Nigerian Breweries Plc and 9mobile. His academic credentials include a master’s degree in banking and finance from Bayero University, Kano, alongside executive programmes at Harvard University, the University of Oxford and Euromoney London.
Investors are watching the bank's governance closely as it manages mixed financial results this year. First-quarter profit before tax fell 21.35 per cent to N160.66 billion, down from N204.26 billion in the corresponding period of 2025. The regulatory filing confirmed the board's formal approval of the new director.
Despite the profit decline, top-line growth remained positive. Gross earnings climbed 4.86 per cent year-on-year to N801.42 billion, driven by higher interest and non-interest income.
The leadership transition follows a period of aggressive geographic expansion under Elumelu. The bank now operates in 20 African countries with financial centres across four continents, serving over 50 million customers and employing roughly 30,000 staff.
