JP Morgan Plans Merchant Bank in Nigeria, Targets 2026 Launch
The Managing Director of JP Morgan West Africa, Mr. Dapo Olagunji, has disclosed that the global financial services firm plans to establish a merchant bank in Nigeria, with operations expected
JP Morgan, a global financial services firm, is planning to set up a merchant bank in Nigeria, with the operations tentatively starting by the end of 2026, pending regulatory approval. This announcement was made by the Managing Director of JP Morgan West Africa, Mr. Dapo Olagunji, during the Nigeria–Asia Financial Connectivity Dialogue in Singapore.
The event was organized by the Central Bank of Nigeria (CBN) in partnership with J.P. Morgan, Nigerian Exchange Group (NGX), and FMDQ Group. The proposed merchant bank would represent an advancement in JP Morgan's footprint in Nigeria, a country aiming to enhance its financial markets, increase capital accessibility, and draw in international investment.
This initiative could augment the variety of financial services accessible to Nigerian businesses and investors, especially as the nation pushes for reforms to improve market liquidity and bolster investor confidence. The move is particularly noteworthy as it follows Nigeria's removal from JP Morgan's Government Bond Index–Emerging Markets (GBI-EM) nearly a decade ago, in 2015, due to worries over foreign-exchange market accessibility and liquidity.
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