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Coronation Merchant Bank appoints Paul Abiagam as acting CEO

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Coronation Merchant Bank has announced the appointment of Paul Abiagam as its acting managing director (MD) and chief executive officer (CEO).

The bank, in a statement on Monday, said the appointment took immediate effect.

“Paul Abiagam, who previously served as Deputy Managing Director of Coronation Merchant Bank, takes over the reins with a track record of spearheading strategic initiatives that have significantly enhanced the Bank’s financial and operational performance,” the bank said.

“His expertise spans corporate, commercial, and consumer banking, with a notable focus on strategic business development and wealth management.”

Commenting on the appointment, Babatunde Folawiyo, chairman of Coronation Merchant Bank, said Paul is a proven leader whose “strategic acumen and extensive experience in the banking sector make him the ideal choice to steer Coronation Merchant Bank through its next phase of growth”.

“His appointment as acting managing director/CEO aligns with our phased leadership transition plan, which has been carefully executed with the cooperation of the erstwhile MD/CEO, Banjo Adegbohungbe,” the bank said.

“We have full confidence in Paul’s ability to drive our strategic goals and deliver exceptional value to our stakeholders.”

Coronation Merchant Bank said through his professional career, spanning over two decades, Abiagam has built a reputation for leading high-performing teams to achieve remarkable results.

“His roles at recognised financial services companies involved driving significant transformations with innovative strategies, aligning systems with corporate goals, thereby unlocking exponential profitability and growth,” the bank said.

“Paul’s leadership skills are complemented by his strong analytical capabilities in finance, risk management and operations, which have been instrumental in developing cutting-edge insights that propel sustainable profits.

“His forward-thinking approach to international trade finance and asset management has established him as a leader within the banking industry.”

Before joining Coronation Merchant Bank in 2023, Abiagam served in several senior roles both locally and internationally.

He was the pioneer managing director at Guaranty Trust Pension Managers Ltd and held various leadership positions at Guaranty Trust Bank.

Abiagam is an alumnus of the University of Benin and also holds an MBA from Lagos Business School, and served as sub-chair of the institution’s alumni association committee from 2018 to 2022.

Abiagam is a fellow of the American Institute of Certified Public Accountants, the Chartered Institute of Management Accountants in the United Kingdom, and a member of the Chartered Institute of Directors in Nigeria.

Celebrities

Cynthia Morgan reveals why she’ll never reach out to Burna Boy

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Cynthia Morgan has revealed why she will never reach out to Burna Boy amid the controversy surrounding his rumoured past relationship with Uju Stella.

In a recent post on her Instagram story, Morgan claimed people advised her to contact Burna Boy regarding Stella’s interview.

In the interview, Stella alleged that she and Burna Boy dated for three years and she got pregnant for him.

In the post, Morgan said she can’t reach out to Burna Boy because he is still upset that she didn’t believe him when Stella made the accusations in 2016.

The songstress also took a shot at men, arguing that they tend to lie and get angry when others don’t believe them.

“For those sending me messages to reach out to Burna Boy, I won’t. If it was me I would reach out but he is probably still mad that I didn’t believe he didn’t impregnate Uju Stella in 2016,” she wrote.

“That’s what most men do. They lie and get mad when you don’t believe them. Something he finally admitted to online 8 years later. You all leave me alone. All the best Damini.”

Morgan and Burna Boy have collaborated on music, with their 2016 song ‘Acting Bad’ a notable example.

There were also rumours of a romantic relationship between the two singers in 2015, although the pair did not confirm it.

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‘You’re bigger than them’ — Portable hails Burna Boy

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Portable, the controversial Nigerian singer, has taken to social media to shower praise on Burna Boy.

In a post on his Instagram story, Portable hailed Burna Boy as the “biggest among your peers”, describing him as “authentic and genuine”.

Portable posted a picture of Burna Boy, accompanied by the glowing tribute.

“1 man na 7 man you big pass them @burnaboygram. Zazuu no fake life na scam life. Akoi grace. If you wan know the real about the top ask me. I follow dey at the top. Only God see who big is big,” he wrote.

The praise comes amid a heated feud between the self-proclaimed African Giant and Nigerian socialite Cubana Chief Priest.

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Cubana Chief Priest vows to secure Speed Darlington’s release amid Burna Boy feud

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Cubana Chief Priest, the Nigerian socialite, has promised to secure the release of Speed Darlington, the rapper.

The rapper was arrested on November 27 while performing at a show in Owerri, Imo state. He was accused of cyberstalking Burna Boy, the Grammy-winning artiste.

In a post via his Instastory on Sunday, Cubana shared a photo of Darlington. In the accompanying caption, the socialite said: “Tomorrow we coming for you Akpi Nwamama.

“Monday is almost here. Make we now show power,” he added.

The post comes amid the feud between Cubana and Burna Boy over an undisclosed matter.

Over the weekend, the duo engaged in a heated war of words on social media.

The controversy started when Burna took to Instagram to call out the socialite, describing him as a “low-budget Rick Ross”.

“No forget say u be Azaman o. And dem don gbe your plug wey him name na Omo Igbo for ATL. And na u be next. #OwerriRickyrozay,” he wrote in Pidgin English.

Responding via a series of posts, Cubana said Burna Boy was dissing him out of jealousy over his success.

He also claimed the singer won a Grammy award because of his relationship with the embattled US rapper Diddy.

“It’s so clear because how is it even possible that someone who brags to be so rich go dey live in so much pain? Wetin dey pain you? Shebi na you be African princess,” he wrote.

In another post, the socialite recounted how he paid Burna N1 million to perform as a backup artiste for his birthday celebration in 2018.

Darlington, on the other hand, has remained in detention despite a court order granting him bail in December.

His lawyers Deji Adeyanju and Stan Alieke have described his continued detention as “unjustifiable”.

In a statement on his X page on Monday, Adeyanju disclosed that the police have been directed to comply with the court’s order to release the rapper.

“The Federal High Court has directed the Nigerian Police to comply with the order to release Speed Darlington immediately pending the hearing of the substantive matter,” he said.

“The court further directs Abubakar Marshal, Esq. to stand as surety to Akpi. Alternatively, he should be arraigned immediately.”

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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