Coronation Merchant Bank has appointed Mr. Paul Abiagam as Managing Director/Chief Executive Officer (CEO), effective December 1, 2025, with approval from the Central Bank of Nigeria (CBN).
The announcement coincides with the bank’s 10th anniversary, marking a decade of growth and the start of a new chapter focused on ambition and institutional maturity.
Abiagam steps into the role after serving as Acting MD, a period during which Coronation recorded one of its strongest performances in recent years. The bank accelerated growth across core metrics, expanded its balance sheet, strengthened capital, and enhanced client engagement.
In 2024, Coronation launched two new business verticals, Public Sector and Financial Institutions, to broaden client relationships and sharpen execution. The bank also reinforced its position in Equity Capital Markets, advising on landmark capital-raising transactions for leading institutions navigating regulatory reforms.
Abiagam brings over 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, as well as serving as MD/CEO of Guaranty Trust Pension Managers and Non-Executive Director at GTBank Côte d’Ivoire.
He has also shaped conversations on competitiveness, innovation, and governance at the Africa Financial Industry Summit and the Africa CEO Forum. Abiagam holds fellowships with the American Institute of Certified Public Accountants, the Chartered Institute of Management Accountants (UK), and the Chartered Institute of Bankers of Nigeria. He studied at Lagos Business School and Nanyang Business School, Singapore.
Babatunde Folawiyo, Chairman of the Board, said Abiagam’s appointment reflects the bank’s confidence in his ability to sustain growth and lead Coronation into a new era of performance and industry leadership.
Abiagam, speaking on his appointment, 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 signals a continuation of Coronation’s strategy to combine steady execution with bold growth initiatives, ensuring the bank remains a key player in Nigeria’s competitive financial landscape.
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