UBA Board Sees Exit of Long-Serving Non-Executive Director Angela Adebayo

May 05, (THEWILL) — United Bank for Africa Plc (UBA) has announced the retirement of Erelu Angela Adebayo from its board, marking the end of a notable tenure as a non-executive director.

The development was disclosed in a statement dated May 4, 2026, and signed by the Group Company Secretary, Bili Odum.

Adebayo, who joined the UBA Group Board in August 2018, exits after more than six years of service.

In its statement, the bank expressed appreciation for her contributions, noting her active involvement in key governance and strategic committees.

“The Board of UBA expresses its deep appreciation to Erelu Angela Adebayo for her dedication and significant contributions to the Group,” the statement read, while wishing her success in future endeavors.

During her time on the board, Adebayo served on several influential committees, including Board Audit & Governance, Credit, Board Risk Management, and Board Operations & Technology.

Her experience spans governance, real estate, and philanthropy, making her a valuable asset to the institution.

Adebayo holds a BSc in Social Science from the University of Ibadan, an MBA from the University of Lagos, and an MPhil in Land Economy from Cambridge University.

Beyond UBA, she has held prominent roles, including Chairman of Afriland Properties Plc and the first female chairman of WEMABOD Estates. She also served as First Lady of Ekiti State.

She currently sits on multiple boards, including the Aliko Dangote Foundation, Meyer Paints Plc, and Women at Risk International Foundation.

Her retirement comes shortly after UBA released its unaudited Q1 2026 results.

The bank posted a pretax profit of N160.66 billion, a 21.35 percent decline year-on-year, despite a 4.86 percent rise in gross earnings to N801.42 billion.

Rising operating costs, particularly in maintenance and energy, weighed on profitability, even as the bank pursues debt recovery and plans to resume dividend payments.

Ogochukwu Onwaeze, THEWILL

Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.