Coronation Bank leadership boost as Paul Abiagam becomes CEO, marking a new phase of growth and strategic momentum

According to a statement released on Friday, Coronation Merchant Bank says its Coronation Bank leadership boost begins with the appointment of Mr Paul Abiagam as Managing Director and Chief Executive Officer, effective 1 December 2025, following approval from the Central Bank of Nigeria.

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The confirmation coincides with the bank’s tenth anniversary, a moment executives describe as the start of a more ambitious and mature chapter.

The bank noted that Abiagam had served as Acting Managing Director, a period in which the institution delivered some of its strongest results in recent years. Growth accelerated across core indicators, profitability improved steadily and client engagement deepened.

The balance sheet expanded, capital buffers strengthened and market visibility increased, developments the bank said demonstrated clarity of purpose and disciplined execution.

Throughout 2024, the bank reported a transformative year. It launched new business verticals for Public Sector and Financial Institutions, broadening its reach and strengthening sector penetration.

Its presence in Equity Capital Markets also grew, advising on landmark capital-raising deals for major institutions adapting to shifting regulatory requirements. These achievements reflected renewed agility and strategic drive.

Abiagam arrives in the role with more than 27 years of experience across commercial and corporate banking, pensions, wealth management, investment banking and risk management.

His career includes senior leadership at Diamond Bank and Guaranty Trust Bank, where he led Commercial and Corporate Banking divisions.

He later served as MD/CEO of Guaranty Trust Pension Managers and as a Non-Executive Director at GTBank Côte d’Ivoire.

He has contributed to regional discourse at the Africa Financial Industry Summit and the Africa CEO Forum, offering insights on innovation, governance and the evolving architecture of African finance.

He is a Fellow of the combined American Institute of Certified Public Accountants and the Chartered Institute of Management Accountants, and an Honorary Fellow Member of the Chartered Institute of Bankers of Nigeria.

His executive studies span Lagos Business School and Nanyang Business School in Singapore.

Board Chairman Babatunde Folawiyo said the appointment reflected confidence in Abiagam’s ability to sustain momentum and guide the bank into a new era of performance.

He added that Abiagam’s strategic discipline had already reinforced the institution’s foundation.

Abiagam described the confirmation as a privilege, saying the bank’s tenth anniversary offers a powerful opportunity to deepen client value, strengthen competitiveness and accelerate innovation across the organisation.

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The year also brought several industry recognitions for Coronation Merchant Bank, reinforcing its growing influence in investment banking, brand leadership and capital-market excellence.