CBN approves JPMorgan’s plan to establish merchant bank in Nigeria

The Central Bank of Nigeria (CBN) has granted Approval-in-Principle (AIP) to JPMorgan to establish JPMorgan Merchant Bank Nigeria Limited, marking a new step in the US financial institution’s plans to expand its presence in the country.The approval was announced by Michael Akuka, Director of the CBN’s Corporate Communications and Investor Relations Department, amid ongoing reforms aimed at strengthening financial stability, improving market confidence and deepening Nigeria’s integration with global capital markets.