Paul Abiagam, CEO and Managing Director, Coronation Merchant Bank

When people hear about Coronation Merchant Bank, what do you want them to think about your organization and its leadership?

When people think of Coronation Merchant Bank, we want them to associate our brand with impact. Driven by our vision to be the most respected Nigerian merchant bank in Africa, we strive to deliver transformational solutions to some of the country’s most pressing challenges.

Take Nigeria’s drive toward becoming a one-trillion-dollar economy. This wasn’t just a headline for us; it’s a challenge we’ve leaned into. We have been part of the capital raise for four of the country’s seven largest banks, unlocking growth that ripples across various industries.

So, when people think of Coronation Merchant Bank, we want them to think of impact, scale, and leadership. We don’t just provide services; we create momentum for the economy and opportunities for the future.

Against the backdrop of economic headwinds in the country, what bold bets have you made to define the Bank’s path to leadership?

Nigeria’s economy has been navigating storms, including general instability, forex volatility and diminishing capital investments. While policymakers deserve credit for holding the line, for us, being in the “eye of the storm” means we cannot afford to be passive. We believe three forces will define leadership in this new era: partnerships, innovation, and technology.

Partnerships, because banking is no longer a solo act. We’ve teamed up with critical stakeholders, such as fintechs, to power frictionless payment and collection solutions in a country rapidly moving toward a cashless future. We’ve also worked alongside government institutions to mobilize capital for infrastructure projects, while strengthening our balance sheet in line with regulatory requirements, demonstrating we are in this for the long haul.

Innovation, because growth requires fresh thinking. A standout example is our role in raising ₦8.9 billion for the maiden series of the Coronation Infrastructure Fund, an issuance that represents the largest amount raised and highest subscription percentage of its kind in Nigeria’s infrastructure fund market. We also structured the country’s first Non-Interest Commercial Paper (NICP) program under a wakalah structure with TrustBanc, a fresh approach to financing Nigeria’s ₦30 trillion infrastructure deficit.

And technology, because it’s the engine that underpins and significantly drives long-term growth and scale. Our digital transformation is focused on simplifying banking for our niche clientele, positioning us to stay relevant and future-ready.

These bets are not just survival tactics; they are the blueprint for how we intend to scale.

Audacious moves reshape not just the balance sheet but atmospheres, beyond numbers and deals. How do you hope the soul of your organization tells the story of the path you have chosen?

The soul of our Bank lies in our people. Every day, they make the decisions that shape our success. So, when a client walks through our doors, they don’t just meet a banker; they meet a face that represents trust, innovation, and leadership.

Across our offices in Lagos, Port Harcourt and Abuja, we work every day to uphold standards that match our customers’ ambitions. They are anchored on three values: a workforce that supports and inspires, a love for the arts and a commitment to sustainability. That is the story we want every client to see, and it is not just how we keep their money safe but also how we secure their loyalty.

In today’s marketplace, where products often overlap, clients are sharper and more demanding than ever. What makes Coronation Merchant Bank’s service delivery stand out?

In a crowded market, our edge lies in execution. We’ve made a deliberate choice to focus on key sectors: aviation, construction, FMCG, heavy industries, services, telecoms, oil and gas, and agribusiness, building deep expertise that allows us to deliver solutions where they matter most: investment banking, global markets and treasury, trade, and payments.

We have expanded beyond corporates to cover the public sector, financial institutions, private clients and affluent banking. Each segment is supported by dedicated teams with expertise across our broad product suite, a model that delivered almost 300 percent growth in the bottom line in 2024.

And the industry has taken note. From winning Best Investment Bank by World Finance to four FMDQ awards, including Largest Issuing House, our leadership in debt and equity capital markets is clear. Differentiation for us means being targeted, expert-led and client-focused, and our clients feel the difference.

Nigeria’s financial ecosystem is evolving, from digital innovation to global integration. How is Coronation moving from navigating the landscape to shaping the future of the industry?

We believe that partnerships with the public sector and private sector large corporates on capital-attracting initiatives are essential to the industry’s next phase, as unlocking long-term capital is critical for Nigeria’s growth. When the right opportunities arise, Coronation Merchant Bank will work alongside government and regulators to design de-risking mechanisms, strengthen investor confidence and establish a framework that attracts sustainable, long-term funding to the country.

But it is not enough for capital to flow inward; growth must also be responsible. As profit at the expense of the environment is no profit at all, we have embedded sustainability into every aspect of our strategy to ensure that innovation and access to capital are matched with responsibility. Through initiatives such as charitable donations to various causes,  implementing sustainable lending policies, Coronation Women Initiative, our 1,000-tree planting program, and with more in the pipeline, we are taking deliberate steps to embed sustainability into our impact. Our goal is to leave a legacy as a bank that delivers enduring value for all stakeholders while safeguarding the environment and shaping the future of Nigeria’s financial ecosystem.