J.P. Morgan to Open Merchant Bank in Nigeria

Global financial giant J.P. Morgan has announced plans to set up a merchant bank in Nigeria, with operations expected to begin before the end of 2026, subject to regulatory approval.

Dapo Olagunji, Managing Director of J.P. Morgan West Africa, disclosed the plan at the Nigeria–Asia Financial Connectivity Dialogue held in Singapore. The Central Bank of Nigeria (CBN) convened the event in partnership with J.P. Morgan, the Nigerian Exchange Group (NGX) and FMDQ Group.

Olagunji made the announcement while welcoming participants to the Dialogue, which brought together investors, financial institutions, businesses and Nigerians living and working across Asia.

Read More : Naira Trades At ₦1,385 on Parallel Market

The proposed institution is expected to deepen J.P. Morgan’s presence in Nigeria and strengthen the bank’s ties with local businesses and the country’s capital markets.

The timeline depends on approval from Nigerian regulators. If approved, the move would signal continued global investor confidence in Nigeria’s financial sector and could open new channels for capital flowing between Nigeria and Asian markets.

Further details on the bank’s structure, capital commitment and services are yet to be disclosed.

Author

Tope Oke

Temitope is a storyteller driven by a passion for the intricate world of geopolitics, the raw beauty of wildlife, and the dynamic spirit of sports. As both a writer and editor, he excels at crafting insightful and impactful narratives that not only inform but also inspire and advocate for positive change. Through his work, he aims to shed light on complex issues, celebrate diverse perspectives, and encourage readers to engage with the world around them in a more meaningful way.