Coronation Merchant Bank has appointed Obeahon Ohiwerei as its new Managing Director and Chief Executive Officer, marking a leadership change as the lender seeks to build on recent capital strengthening, digital transformation, and governance reforms.
The appointment follows the Central Bank of Nigeria’s approval and comes after the bank completed a successful recapitalisation, exceeded the regulator’s minimum capital requirement and secured a B- long term issuer default rating with a stable outlook from Fitch Ratings.
Ohiwerei succeeds Paul Abiagam, who led the bank through a period of strategic expansion that included strengthening its capital base, improving governance and modernising its operations.
Babatunde Folawiyo, Chairman of Coronation Merchant Bank, said the bank was entering a new phase from “a position of considerable strength.
“Our successful recapitalisation has enhanced our capacity to support clients while demonstrating the confidence our shareholders continue to place in the bank’s long term strategy.”
