Coron Merchant Bank Appoints Obeahon Ohiwerei CEO

Coron Merchant Bank has appointed Obeahon Ohiwerei as its new Managing Director and Chief Executive Officer after receiving a "no objection" approval from the Central Bank of Nigeria. Ohiwerei succeeds Paul Abiagam, who led the bank during a significant period of strategic transformation.

This appointment coincides with the bank's 10th anniversary and follows its successful recapitalization, which strengthened its governance framework and operational processes. The bank has also received a Fitch rating of 'B' with a stable outlook.

Babatunde Folawiyo, Chairman of Coron Merchant Bank, expressed confidence in Ohiwerei's leadership and commitment to the bank's long-term growth trajectory. Ohiwerei brings over three decades of banking experience, having previously served as Managing Director at UBA Ghana and Executive Director at Access Bank PLC.

Additionally, the bank announced the appointments of Nana Adjua Mensah and Adetola Owolabi as independent non-executive directors, enhancing the board's expertise.