Coronation Merchant Bank has announced the confirmation of Mr Paul Abiagam as its Managing Director and Chief Executive Officer, effective 1 December 2025, following approval by the Central Bank of Nigeria. The appointment coincides with the institution’s tenth anniversary—an important milestone that signals a new phase of strategic growth and institutional maturity.
Abiagam assumes the role after a successful stint as Acting Managing Director, during which the Bank recorded one of its strongest performances in recent years. Under his leadership, Coronation Merchant Bank accelerated growth across key financial indicators, strengthened profitability, expanded its balance sheet, and deepened client engagement. The Bank also consolidated its market presence and sharpened execution through renewed strategic clarity.
The year 2024 marked a transformational period for the institution. The Bank launched two new business verticals—Public Sector and Financial Institutions—broadening its sector coverage and reinforcing its ambition to serve as a leading financial partner across the economy. It further strengthened its position in the Equity Capital Market space, advising on landmark capital-raising transactions for top-tier institutions navigating regulatory and market shifts.
With more than 27 years of experience spanning commercial and corporate banking, pensions, wealth management, investment banking, and risk management, Abiagam brings deep expertise to his new role. His career includes senior leadership positions at Diamond Bank and Guaranty Trust Bank, where he led key business divisions. He also served as Managing Director/CEO of GT Pension Managers and as a Non-Executive Director at GTBank Côte d’Ivoire.
Beyond his executive roles, Abiagam has been an influential voice in regional financial discourse, with engagements at the Africa Financial Industry Summit and the Africa CEO Forum. A Fellow of the joint body of the American Institute of Certified Public Accountants and the Chartered Institute of Management Accountants (UK), he is also an Honorary Fellow of the Chartered Institute of Bankers of Nigeria. His executive education includes programmes at Lagos Business School and Nanyang Business School, Singapore.
Chairman of the Board, Babatunde Folawiyo, described the appointment as a strategic vote of confidence.
“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,” he said.
Responding to his confirmation, Abiagam reaffirmed his commitment to leading the Bank into its next phase.
“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 said.
The announcement crowns a year of significant recognitions for Coronation Merchant Bank across investment banking, brand leadership, and capital market excellence—further underscoring the momentum behind the institution’s next decade.
