The Central Bank of Nigeria, CBN, has granted American financial services giant JP Morgan approval-in-principle to establish a merchant bank in the country. The proposed lender, to be known as JPMorgan Merchant Bank Nigeria Limited, will, however, require a final banking licence from the apex bank before commencing operations. The CBN disclosed this in a
The Central Bank of Nigeria, CBN, has granted American financial services giant JP Morgan approval-in-principle to establish a merchant bank in the country.
The proposed lender, to be known as JPMorgan Merchant Bank Nigeria Limited, will, however, require a final banking licence from the apex bank before commencing operations.
The CBN disclosed this in a statement on Friday, marking a significant step in the expansion of the global bank’s operations in Africa’s largest economy.
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