Banking industry mourns passing of revered boardroom statesman who led UBA through transformative period.

United Bank for Africa (UBA) has announced the death of its former chairman, Israel Ogbue, who passed away at the age of 99.

Ogbue, father of Awele Elumelu, chairman of Transcorp Hotels, and father-in-law to Tony Elumelu, group chairman of UBA Group, died peacefully, according to a statement released by the bank on Thursday.

The bank described the late nonagenarian as a revered boardroom statesman and distinguished administrator who provided steady and principled leadership during a defining period in UBA’s transformation.

Ogbue joined the UBA board in 2005 as a non-executive director and was appointed chairman in 2011, a position he held until his retirement in 2013. During his tenure, he reinforced a culture of corporate governance, accountability, and long-term sustainability that has continued to guide the institution.

Born on February 18, 1927, in Onicha-Olona, Delta State, Ogbue began his professional career in the federal civil service before traveling to the United Kingdom for further studies, where he enhanced his qualifications and expertise.

His leadership at UBA came during a critical transformation phase for the bank, as Nigeria’s financial sector underwent significant consolidation and modernization. Colleagues and associates remember him as a principled leader who brought decades of administrative experience and wisdom to the boardroom.

The banking industry and corporate Nigeria are expected to pay tribute to Ogbue’s contributions to the financial sector and his role in shaping modern banking practices in the country.

Details about funeral arrangements have not yet been announced by the family.