Coronation Merchant Bank appoints Paul Abiagam as CEO amid 10th anniversary celebrations
Coronation Merchant Bank has announced the appointment of Mr. Paul Abiagam as its new Managing Director and Chief Executive Officer, effective December 1, 2025, following approval from the Central Bank of Nigeria (CBN).
The announcement coincides with the bank’s 10th anniversary, signaling a milestone year and the start of a new chapter focused on growth and institutional maturity.
Abiagam assumed the role after serving as Acting Managing Director, a period during which Coronation Merchant Bank recorded some of its strongest performance metrics in recent years.
According to a statement from the bank, core metrics accelerated, profitability improved significantly, and client engagement deepened.
The bank also expanded its balance sheet, strengthened its capital base, and reinforced its market presence under his leadership.
The bank’s performance in 2024 was described as transformative, highlighted by the launch of two new business verticals Public Sector and Financial Institutions aimed at enhancing execution and broadening client relationships.
Coronation Merchant Bank also reinforced its position in Equity Capital Markets, advising on landmark capital-raising transactions for leading institutions navigating regulatory reforms.
Abiagam brings more than 27 years of experience across 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 the Commercial and Corporate Banking divisions.
He also served as Managing Director/CEO of Guaranty Trust Pension Managers and held a Non-Executive Director position at GTBank Côte d’Ivoire.
Beyond executive leadership, Abiagam has contributed to key industry dialogues, speaking at the Africa Financial Industry Summit and the Africa CEO Forum, where he has influenced discussions on competitiveness, innovation, governance, and the evolving landscape of African finance.
He holds fellowships with the American Institute of Certified Public Accountants, the Chartered Institute of Management Accountants (UK), and is an Honorary Fellow Member of the Chartered Institute of Bankers of Nigeria.
His executive education includes Lagos Business School and Nanyang Business School in Singapore.
Commenting on the appointment, Babatunde Folawiyo, Chairman of the Board, said, “Paul’s appointment reflectes 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 remarks, Abiagam expressed optimism about the future, stating, “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.”
