Coronation Merchant Bank has announced the appointment of Mr. Paul Abiagam as Managing Director and Chief Executive Officer, effective December 1, 2025, following approval from the Central Bank of Nigeria (CBN).
The confirmation coincided with the bank’s 10th anniversary, marking the start of a chapter defined by heightened ambition and deeper institutional maturity.
A statement explained that 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.
“2024 proved transformative; the bank launched new business verticals: Public Sector and Financial
Institutions, each designed to sharpen execution and broaden client relationships across its expanded sector coverage.
“It also strengthened its standing in Equity Capital Markets, advising on several landmark capital-raising transactions for leading institutions navigating regulatory reforms. These milestones speak to renewed agility and strategic momentum.
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.
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.”
In his comments, 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.”
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