JPMorgan Gets Nigeria Approval
Nigeria's central bank granted JPMorgan approval-in-principle to establish a merchant bank focused on wholesale banking and advisory services. The move marks a potential expansion into Africa's most populous nation as authorities push reforms to attract foreign capital.
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JPMorgan Chase & Co has secured initial approval from Nigeria's central bank to establish a merchant bank, expanding its footprint in Africa's largest economy. The development follows a series of regulatory overhauls aimed at rebuilding institutional credibility across the region. Wholesale banking and capital markets advisory will anchor the new entity's operations.
