United Bank for Africa (UBA) Plc has announced the appointment of Ibrahim Puri as a non-executive director, effective August 20, 2026. The appointment, disclosed in a regulatory filing with the Nigerian Exchange Group (NGX), is part of the bank's ongoing efforts to strengthen its board with experienced professionals.
Ibrahim Puri's Background and Expertise
Ibrahim Puri brings over 30 years of experience in finance, investment banking, and corporate governance to the UBA board. According to the filing, Puri has held senior leadership positions at several prominent financial institutions, including a tenure as Managing Director at FBNQuest Merchant Bank. His career also includes roles at the African Development Bank (AfDB) and the Central Bank of Nigeria (CBN), where he contributed to policy formulation and financial sector development.
Puri holds a Bachelor's degree in Economics from the University of Maiduguri and a Master's degree in Business Administration (MBA) from the University of Lagos. He is also a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an Associate of the Chartered Institute of Bankers of Nigeria (CIBN).
Strategic Rationale for the Appointment
The appointment of Ibrahim Puri aligns with UBA's strategy to enhance board diversity and expertise as the bank expands its footprint across Africa and globally. UBA's Group Chairman, Tony Elumelu, commented on the appointment, stating, "We are delighted to welcome Ibrahim Puri to the UBA Board. His deep understanding of the financial services industry and his track record of driving institutional growth will be invaluable as we continue to execute our strategic objectives."
UBA operates in 20 African countries and has a presence in the United Kingdom, the United States, France, and the United Arab Emirates. The bank's total assets stood at N28.6 trillion as of December 2025, according to its most recent audited financial statements.
Impact on Corporate Governance and Oversight
As a non-executive director, Ibrahim Puri will contribute to board oversight of UBA's strategy, risk management, and governance framework. The appointment is subject to approval by the Central Bank of Nigeria (CBN) and will be ratified at the next annual general meeting of shareholders. UBA's board now comprises 15 directors, including 10 non-executive directors, reflecting a strong independent oversight structure.
This appointment comes as UBA continues to navigate a dynamic operating environment, with the bank reporting a 22% increase in profit before tax to N803 billion for the 2025 financial year. The bank's earnings per share rose to N18.50, driven by growth in interest income and non-interest revenue streams.
