JPMorgan’s Nigerian Merchant Bank: 10 Things To Know

1. It plans to launch before the year ends . JPMorgan plans to set up a merchant bank in Nigeria, with operations expected to begin before the end of 2026.
2. Regulatory approval is still pending . The plan was disclosed by the bank’s West Africa managing director and remains subject to regulatory approval.
3. It has put up the capital. JPMorgan deposited N50 billion ($38 million) with the Central Bank of Nigeria as it moves toward a merchant banking licence.
4. The approval timeline is less certain than the launch target . The central bank’s approval is expected by the end of 2026 or early 2027. The year-end launch target is therefore tight.
5. It is not a first arrival . Chase ...