The appointment of Ambassador Joe Keshi as the Chairman of the Board of Directors of United Bank for Africa Plc (UBA) has put to rest the speculation on the return of Mr. Tony Elumelu as the chairman of the bank.
Elumelu retired from UBA as the group managing director on July 31, 2010, and there had been speculation that the founder of Heirs Holdings might return to the UBA Board following the expiration in August 2013 of the three-year regulatory restriction placed by the Central Bank of Nigeria (CBN).
A statement quoted Elumelu to have expressed satisfaction over the appointment of the new chairman.
"The choice of Ambassador Keshi as the Chair of UBA is one that will bring significant value to the shareholders of the bank. He is highly qualified and experienced to lead the board. His international clout and strong experience in policy formulation and execution will definitely bring significant insight to board deliberations," he said.
He further stated: "It is clear that UBA is strongly pushing for industry dominance whilst exploiting the abundant opportunities in Africa through its unique platform."
However, it was gathered that some industry watchers who are close to Elumelu, believe his status is now beyond banking board room affairs following the success of Heirs Holdings, which has significant investments in power, oil and gas, hospitality, real estate, agribusiness and healthcare.
The Tony Elumelu Foundation he founded in 2010 is also helping him to actualise his passion to create more entrepreneurs across Africa.