Lagos, Nigeria | July 20, 2026
Obeahon Ohiwerei Appointed Managing Director/CEO of Coronation Merchant Bank
Coronation Merchant Bank has announced the appointment of seasoned banker Obeahon Ohiwerei as its new Managing Director and Chief Executive Officer, following the receipt of the Central Bank of Nigeria’s (CBN) “No Objection” approval.
Ohiwerei succeeds Paul Abiagam, who led the bank through a transformative period marked by successful recapitalisation, stronger corporate governance, accelerated digital transformation, and sustained business growth.
The appointment comes at a significant milestone for Coronation Merchant Bank, which recently celebrated its 10th anniversary while exceeding the CBN’s minimum capital requirements. The bank has also strengthened its governance framework, expanded its digital capabilities, and earned a ‘B-‘ Long-Term Issuer Default Rating with a Stable Outlook from Fitch Ratings.
A respected figure in Nigeria’s banking industry, Obeahon Ohiwerei brings more than three decades of executive leadership experience. He previously served as the Managing Director and CEO of Keystone Bank and has held senior leadership positions at Access Bank, First Ally Capital, Standard Trust Bank Ghana, and Continental Trust Bank.
The Board of Coronation Merchant Bank expressed confidence that Ohiwerei’s extensive experience in corporate banking, capital markets, risk management, and strategic leadership will position the institution for its next phase of growth and innovation.
His appointment is expected to reinforce the bank’s commitment to delivering innovative financial solutions, expanding client relationships, strengthening shareholder value, and supporting Nigeria’s evolving financial services sector.
Industry analysts believe the leadership transition reflects Coronation Merchant Bank’s long-term strategy of building a stronger institution capable of competing in Nigeria’s increasingly dynamic banking landscape.
With regulatory approval now secured, Ohiwerei officially assumes leadership of the bank as it continues its focus on sustainable growth, digital innovation, and operational excellence.
Sources: Coronation Merchant Bank announcement; Punch Newspapers; BusinessDay Nigeria; The Guardian Nigeria, flashinfong.com