CBN approves Abiagam as Coronation Merchant Bank CEO

Coronation Merchant Bank has announced the appointment of Mr Paul Abiagam as Managing Director and Chief Executive Officer, effective 1 December 2025, following approval from the Central Bank of Nigeria.

It said in a statement on Friday that the confirmation aligns with the bank’s tenth anniversary, signalling the beginning of a new chapter marked by heightened ambition and deeper institutional maturity.

“Mr Abiagam steps into the position after serving as Acting Managing Director, a period during which the bank recorded one of its strongest performances in recent years. Growth accelerated across core metrics, profitability improved significantly, and client engagement deepened.

“The bank also expanded its balance sheet, reinforced its capital position, and strengthened its market presence—outcomes the institution said reflected the clarity and conviction of its leadership,” the bank stated.

It stated that the year 2024 proved transformative for Coronation Merchant Bank. During the period, the institution launched new business verticals—Public Sector and Financial Institutions—designed to sharpen execution and broaden client relationships across an expanded sector base.

It also strengthened its standing in the Equity Capital Markets, advising on several landmark capital-raising transactions for leading institutions navigating regulatory reforms. These achievements, the bank noted, underscore renewed agility and strategic momentum.

Abiagam brings more than 27 years of experience spanning commercial and corporate banking, pensions, wealth management, investment banking, and risk management. His career includes senior leadership roles at Diamond Bank and Guaranty Trust Bank, where he led Commercial and Corporate Banking divisions. He also served as Managing Director/CEO of Guaranty Trust Pension Managers and as a Non-Executive Director at GTBank Côte d’Ivoire.

Beyond executive leadership, he has participated in key industry dialogues at the Africa Financial Industry Summit and the Africa CEO Forum, contributing to discussions on competitiveness, innovation, governance, and the evolving structure of African finance.

He is a Fellow of the combined body of the American Institute of Certified Public Accountants and the Chartered Institute of Management Accountants, and an Honorary Fellow Member of the Chartered Institute of Bankers of Nigeria. He studied at Lagos Business School and Nanyang Business School in Singapore.

Commenting on the appointment, the Chairman of the Board, Babatunde Folawiyo, said, “Paul’s appointment reflects our confidence in his ability to sustain the Bank’s growth trajectory and guide it into a new era of performance and industry leadership. His strategic insight and steady execution have already strengthened the foundation for what lies ahead.”

Abiagam described his confirmation as a privilege. “It is an honour to lead Coronation Merchant Bank at this pivotal moment. As we celebrate a decade of impact, our focus remains on deepening value for clients, strengthening our market position, and driving innovation across every part of our business,” he stated.

The announcement follows a year marked by multiple recognitions for Coronation Merchant Bank across investment banking, brand leadership, and capital markets excellence.