Nigeria Admits JPMorgan Bank

NigeriaJPMorgan, in Lagos since 1961, clears first licensing step.

The bank, now a representative office, plans wholesale banking, capital markets and advisory services in Nigeria.

The central bank’s approval is only phase one, and JPMorgan must still incorporate and win operational approvals.

JPMorgan hopes to hold the licence by year-end or early 2027, people familiar with the deal say.

How each outlet framed it

Premium Times Nigeria: stresses approval-in-principle is only phase one, still needing CAC incorporation and operational approvals before JPMorgan can operate