Coronation Merchant Bank announces Paul Abiagam as Managing Director/CEO

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

The confirmation coincides with the bank’s tenth anniversary, marking the start of a chapter defined by heightened ambition and deeper institutional maturity.

Abiagam steps into the role after serving as Acting Managing Director, a period during which the Bank delivered one of its strongest performances in recent years. Growth accelerated across core metrics, profitability improved substantially, and client engagement deepened.

The bank also expanded its balance sheet, reinforced its capital position, and strengthened its market presence, all reflecting the clarity and conviction of its leadership.

Abiagam brings over 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.

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Beyond executive leadership, he has led conversations at the Africa Financial Industry Summit and the Africa CEO Forum, shaping discourse 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 (UK), and an Honorary Fellow Member of the Chartered Institute of Bankers of Nigeria. He studied at Lagos Business School and Nanyang Business School, Singapore, respectively.

Babatunde Folawiyo, the Chairman of the Board, stated: “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 said, “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.”

The appointment follows a year marked by multiple recognitions for the Bank in investment banking, brand leadership, and capital markets excellence.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.