By| Goodluck E.Adubazi, Abuja
The Central Bank of Nigeria (CBN) has granted Approval-in-Principle to global financial giant JPMorgan to establish a merchant bank in Nigeria, to be known as JPMorgan Merchant Bank Nigeria Limited.
The development marks a significant milestone for Nigeria’s financial sector, signalling growing international confidence in the country’s financial markets and long-term economic prospects.
JPMorgan’s proposed entry is expected to strengthen competition, expand financial services and create new opportunities for businesses and investors, subject to meeting regulatory requirements for final approval and commencement of operations.
