Coronation Merchant Bank Appoints New CEO After Regulatory Approval

Coronation Merchant Bank in Nigeria appointed Obeahon Ohiwerei as its Managing Director and Chief Executive Officer after receiving approval from the Central Bank of Nigeria. The appointment follows a period of strategic transformation led by Paul Abiagam, who is stepping down. Coronation Merchant Bank recently celebrated its 10th anniversary and successfully met the Central Bank of Nigeria’s minimum capital requirements, also receiving a ‘B-’ Long-Term Issuer Default Rating from Fitch Ratings with a Stable Outlook.

Ohiwerei brings over thirty years of banking experience from roles at UBA Ghana, Access Bank Plc, and Keystone Bank. The bank also added Nana-Adjua Mensah and Adetola Owolabi to its board as Independent Non-Executive Directors, aiming to bolster its governance and expertise.

Coronation Merchant Bank intends to build on recent successes by deepening client relationships and expanding into new markets. The leadership transition marks the beginning of a new phase for the bank, focused on sustained growth and a strengthened position in the financial sector.