All You Should Know As Paul Abiagam Is Named New CEO At Coronation Bank

Coronation Merchant Bank has named Paul Abiagam as its new Managing Director and Chief Executive Officer, a transition that takes effect from December 1, 2025, following regulatory approval from the Central Bank of Nigeria.

His confirmation comes at a symbolic moment for the institution, aligning with its tenth anniversary and signalling the beginning of a more ambitious phase for the franchise.

Abiagam’s elevation follows a successful stint as Acting Managing Director, a period in which the Bank posted one of its strongest performances in recent years. Growth across core areas accelerated, profitability improved, and client engagement deepened. The Bank expanded its balance sheet, reinforced capital buffers, and strengthened its competitive position—outcomes insiders attribute to clear strategic direction and disciplined execution.

The momentum was particularly visible in 2024, a year that reshaped key parts of the institution. The Bank introduced new verticals, including Public Sector and Financial Institutions, aimed at expanding its client footprint and sharpening delivery within a broader sector base. It also deepened activities in Equity Capital Markets, advising on landmark capital-raising transactions for leading corporates adjusting to evolving regulatory guidelines. These achievements underscored a renewed sense of agility and strategic focus.

With more than 27 years of experience across commercial and corporate banking, pensions, wealth management, investment banking, and risk management, Abiagam brings a wide range of industry expertise into the role.

The CEO previously held senior leadership positions at Diamond Bank and Guaranty Trust Bank, where he oversaw Commercial and Corporate Banking divisions. He also served as Managing Director/CEO of Guaranty Trust Pension Managers and sat on the board of GTBank Côte d’Ivoire as a Non-Executive Director.

His thought leadership extends beyond boardrooms.

Abiagam has contributed to high-level conversations at the Africa Financial Industry Summit and the Africa CEO Forum, engaging on themes such as competitiveness, innovation, governance, and the evolving architecture 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), as well as an Honorary Fellow of the Chartered Institute of Bankers of Nigeria. His executive education includes programmes at Lagos Business School and Nanyang Business School in Singapore.

Babatunde Folawiyo, Chairman of the Board, described his appointment as a natural progression for the institution.

“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,” the Chairman stated.

In his response, Abiagam noted the significance of taking on the role at a defining moment in the Bank’s journey. “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.

His appointment caps a year in which the Bank received multiple recognitions in investment banking, brand leadership, and capital markets excellence—reinforcing a trajectory he has been central to shaping.