CBN approves Abiagam as Coronation Merchant Bank CEO

The Central Bank of Nigeria has given formal approval for the appointment of Aigboje “Abiagam” Aig-Imoukhuede as the new Chief Executive Officer of Coronation Merchant Bank, marking a significant leadership transition at one of Nigeria’s key investment and wholesale banking institutions. The approval, which follows a thorough fit-and-proper assessment by the apex bank, signals a new chapter for the bank as it seeks to strengthen its market position and deepen its financial services capabilities in an increasingly competitive and regulated environment.

Abiagam’s appointment comes at a crucial moment for the banking sector, which has been undergoing reforms aimed at stabilising the financial system, enhancing governance standards, and promoting sustainable capital adequacy. Industry observers note that the CBN’s nod reflects confidence in his professional track record, leadership competence, and alignment with the regulatory direction for merchant banks. His assumption of office is expected to introduce renewed strategic focus and stronger risk governance frameworks within the organisation.

Before his appointment, Abiagam had spent years building an extensive career across investment banking, capital markets advisory, and financial risk management. He is widely regarded for his strong analytical background, hands-on operational approach, and experience managing high-value corporate portfolios. His leadership style, according to associates, combines disciplined execution with a drive for innovation—qualities considered essential in navigating the complexities of Nigeria’s rapidly evolving financial services landscape.

At Coronation Merchant Bank, expectations are high that he will steer the institution into a new phase of growth. The bank, known for its offerings in corporate banking, treasury services, asset management, and investment advisory, has been seeking to expand its footprint by strengthening operational efficiency and deepening client relationships. With the renewed push for economic diversification, infrastructure financing, and enhanced capital mobilisation, the merchant banking space in Nigeria is witnessing increased demand for sophisticated financial solutions. Market watchers believe Abiagam’s experience places him in a strong position to lead the bank’s transformation agenda.

The CBN’s approval also reinforces the broader emphasis on regulatory compliance and leadership accountability. Merchant banks operate in a high-risk environment, dealing with large-scale transactions, wholesale funding structures, and complex financial instruments. In recent years, the CBN has intensified oversight over capital adequacy, liquidity buffers, risk exposure management, and corporate governance. The appointment of a leader with deep institutional understanding and strong risk-governance orientation aligns with the regulator’s mission to safeguard financial stability.

In his new role, Abiagam is expected to focus on key pillars such as strengthening the bank’s capital position, leveraging digital innovation for operational efficiency, expanding revenue streams, and deepening market penetration across priority sectors. Analysts say that the macroeconomic environment—marked by exchange rate reforms, evolving monetary policies, and fluctuating market liquidity—places new demands on leadership teams across the banking sector. Merchant banks must now balance profitability with resilience, particularly in a period of periodic monetary tightening and aggressive regulatory adjustments.

Coronation Merchant Bank’s board expressed strong support for his appointment, noting that his leadership would enhance the bank’s ability to deliver value to clients and shareholders. The board emphasised the need for continuous strategic renewal to stay competitive in a market where product sophistication, speed of execution, and risk management excellence remain critical differentiators. They expressed confidence that Abiagam’s background and vision would strengthen the bank’s strategic initiatives, including corporate lending, trade finance, advisory services, and investment products.

Industry players predict that under his leadership, the bank may intensify efforts to expand its asset management and securities trading operations. With Nigeria’s capital market recording increased activity, and with more corporates seeking funding through bonds, commercial papers, and structured notes, merchant banks are strategically positioned to play a larger role. Abiagam’s experience in capital markets could help the bank capture new opportunities in structured finance, private equity partnerships, and specialised investment solutions.

The appointment also carries implications for customer confidence. In a sector where perception often influences investor decisions, stable leadership is vital. Market analysts note that leadership changes at financial institutions can either strengthen confidence or create uncertainty, depending on how the transition is managed. In this case, the CBN’s prompt approval and the bank’s clear communication have reinforced the perception of continuity, stability, and alignment with long-term objectives.

Furthermore, as digital transformation continues to redefine financial services worldwide, merchant banks in Nigeria are under pressure to adopt cutting-edge technologies to enhance service delivery. From risk modelling and automated compliance checks to digital onboarding and advanced analytics, the sector is undergoing a deep shift. Abiagam’s leadership is expected to accelerate Coronation’s digital integration, particularly in treasury operations, corporate advisory, and investment platforms.

With the appointment now approved, stakeholders will be watching the new CEO’s early strategic signals closely. The coming months will likely set the tone for the bank’s priorities in capital financing, asset growth, operational restructuring, and market expansion. Given the institution’s strong foundation and the regulatory approval now secured, expectations remain high that Abiagam will guide Coronation Merchant Bank into a more competitive and financially robust future.