J.P. Morgan plans to set up a merchant bank in Nigeria before end of 2026

Global bank J.P. Morgan plans to establish a merchant bank in Nigeria, with operations targeted to begin before the end of 2026, subject to regulatory approval.

The plan was announced at the Nigeria-Asia Financial Connectivity Dialogue in Singapore, organised by the Central Bank of Nigeria (CBN). The move would deepen the bank's presence in Nigeria and its links with Nigerian businesses and capital markets.

J.P. Morgan has had a representative office in Lagos since the 1980s and had earlier signalled plans to upgrade it to a full branch. If approved, a merchant banking licence would let it offer dollar loans to Nigerian companies.

CBN Governor Olayemi Cardoso is in Singapore ahead of the IMF-World Bank Annual Meetings in Bangkok, where he said the country's financial-sector reforms are laying the foundation for deeper, more internationally connected markets.

Sources: Nairametrics, Daba Finance.