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JPMorgan Nigeria merchant bank

JPMorgan is establishing a licensed merchant bank in Nigeria, moving from capital deposit to full CBN regulatory approval.

4 entriesWed, Oct 21 – Tue, Oct 27Fintech & Payments

Timeline

  1. Tue, Oct 27LatestUnverified — not yet reviewed

    JPMorgan Names Nigerian Executive to Lead New Nigeria Investment Bank

    JPMorgan has selected Dapo Olagunju to head its newly established investment banking operation in Nigeria, according to French-language reporting on the appointment. The personnel announcement follows the Central Bank of Nigeria's formal licence approval and the naming of a broader leadership team reported on 26 October.

  2. Mon, Oct 26Unverified — not yet reviewed

    J.P. Morgan Names Five Nigerians to Lead Its First African Merchant Bank

    J.P. Morgan has named five Nigerian executives to lead its newly approved merchant bank in Nigeria, the first time the world's largest bank has established a licensed banking presence in Africa's largest economy. The personnel announcement follows the Central Bank of Nigeria's formal approval of the licence reported on 24 October.

  3. Sat, Oct 24Unverified — not yet reviewed

    JPMorgan Wins Nigeria Bank Licence

    The Central Bank of Nigeria has formally approved JPMorgan's application to establish a merchant bank, completing a process that began with the deposit of N50 billion as a licensing requirement. The approval marks the first time the world's largest bank has secured a Nigerian banking licence, a development analysts are reading as a significant institutional vote of confidence in Africa's largest economy. Commentary notes the licence could open new capital markets and structured finance access for Nigerian founders and CFOs.

  4. Wed, Oct 21Unverified — not yet reviewed

    JPMorgan Deposits N50 Billion With CBN as Nigeria Merchant Bank Nears Launch

    JPMorgan has deposited N50 billion with the Central Bank of Nigeria as part of its bid for a merchant banking licence, advancing its entry into Africa's largest economy. The move is widely described as a landmark vote of confidence in Nigeria's banking market from the world's largest bank.