In January 2005, Nigerian businessman Tony Elumelu led the landmark merger between Standard Trust Bank and United Bank for Africa, a deal widely regarded as the most transformative banking merger in Sub-Saharan Africa. As Group Managing Director and Chief Executive Officer of the newly combined institution, Elumelu said he carried a clear mandate to transform a single-country bank into a pan-African powerhouse, a journey he noted depended greatly on assembling the right people.
That same year, the late Chief Israel C. Ogbue joined the UBA Board as a Non-Executive Director, bringing decades of senior leadership experience from the National Insurance Corporation of Nigeria and NAL Merchant Bank, alongside a reputation for integrity. According to Elumelu, Ogbue was quickly recognised by his peers for a rare blend of wisdom, steadiness and strong principles, qualities that inspired those around him.
In 2011, the UBA Board appointed him Chairman, a position he held until 2013. During his tenure, he strengthened the bank’s governance framework and reinforced a culture of accountability and long-term thinking that, Elumelu said, continues to shape the UBA Group today. Beyond his professional achievements, Elumelu described him as a man of deep and unwavering faith, a devoted Christian, husband, father and family patriarch whose loved ones were his greatest pride.
Elumelu announced that he and his wife, Awele Elumelu, were mourning the passing of Chief Ogbue, who died peacefully on Wednesday, February 18, 2026, his 99th birthday. He described the late elder statesman’s life as a monument in itself, saying it was “a life beautifully lived” and one that would endure.“Rest well, Chief O, as I fondly called him,” Elumelu said. “You will be dearly missed.”
Source: https://punchng.com/
