Coronation Merchant Bank names Obeahon Ohiwerei as MD/CEO post-CBN approval, recapitalization
Coronation Merchant Bank has appointed Obeahon Ohiwerei as its new Managing Director and Chief Executive Officer, following Central Bank of Nigeria's No Objection approval. Ohiwerei succeeds Paul Abiagam, who led the bank through its recapitalization and strategic transformation earlier this year.
The appointment comes after Coronation Merchant Bank celebrated its 10th anniversary, exceeded the CBN's minimum capital requirements, strengthened its governance framework, accelerated digital transformation, and secured a Fitch Ratings Long-Term Issuer Default Rating of 'B-' with Stable Outlook. These milestones reinforce the bank's strategy of disciplined growth, prudent risk management, and sustainable value creation.
Ohiwerei brings over three decades of banking experience, having served as Pioneer Managing Director of UBA Ghana, Executive Director at Access Bank Plc, and Managing Director of Keystone Bank. His expertise spans corporate banking, institutional banking, risk management, banking operations, business transformation, and client coverage.
As part of its governance strengthening, the bank also appointed Nana-Adjua Mensah and Adetola Owolabi as Independent Non-Executive Directors. Mensah brings over 25 years of experience from banking, treasury and corporate trust services (including MD/CEO of First Trustees Nigeria Limited), while Owolabi brings 17 years from Guaranty Trust Bank's shipping and maritime business, now serving as COO of Black Pelican Limited.
Coronation Merchant Bank, established in 2015, provides wholesale banking services including Corporate & Investment Banking, Private Banking/Wealth Management, and Global Markets/Treasury Services. It remains the first and only Nigerian merchant bank with an international risk rating, operating from its Lagos headquarters with branches in Abuja and Port Harcourt.
With the bank now well-capitalized and governed, will you consider Coronation Merchant Bank for your business banking needs or investment opportunities given its strengthened position and growth mandate?