What does the cryptic crossword clue "Collar old bishop and bigwig (5)" mean?

The definition is "bigwig". The wordplay uses a charade (building blocks). NAB (synonym="Collar") + O (abbreviation="old") + B (abbreviation="bishop") = NABOB; definition: "bigwig" The answer is NABOB.

Collar old bishop and bigwig (5)

Daily Mail Cryptic #16529 | 26 Down | 2021-03-10 flower

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