NewStats: 3,264,108 , 8,182,620 topics. Date: Monday, 09 June 2025 at 05:07 PM q626f

JP Morgan, an American bank, is planning to transform its Lagos representative office into a fully-fledged business branch as part of a broader strategy to expand its presence across Africa.

The US bank, according to a report by African Intelligence on March 31, intends to apply to the Central Bank of Nigeria (CBN) for a merchant banking licence in the coming months.

JP Morgan is yet to reply to TheCable’s enquiry about the business transformation at the time of filing this report.

The New York-based financial institution, managed in Nigeria by Dayo Olagunju, JP Morgan’s head of West Africa, seeks to enhance its service offerings beyond advisory and asset management to include dollar loans for large companies.

In January, representatives of JP Morgan, led by Olagunju, visited Nigeria and met with Wale Edun, minister of finance. The ministry said the visit was part of an exploratory mission organised by JP Morgan for a diverse group of international institutional investors seeking insights into Nigeria’s economic landscape.

In October 2024, Jamie Dimon, JP Morgan’s chief executive officer (CEO), told Reuters his intention to strengthen the bank’s presence in Africa by expanding into additional countries every few years.

JP Morgan, which has operated in Nigeria since the 1980s, has offices in Abidjan, Cote d’Ivoire, Nairobi, and Kenya to deepen its presence in Africa.

The strategy for JP Morgan in Africa is to accompany countries in issuing Eurobonds.

JP Morgan participated in Nigeria’s 2024 fundraising on the international market.

https://www.thecable.ng/report-jp-morgan-to-establish-full-banking-branch-in-nigeria/

Ehen?
.
9ja mobile deposit loading
.
Old chase with verified NIN slide in for big bag

Wow. Nice one.

Nah to open an and they load an steadily 🥂

I go first apply for CC, chop am clean mouth, then open a checking and load am straight

Sho ni CC?

Our southern governors need to use our security vote to start massive cattle rearing projects in the hands of NATIVES to check the Fulanis onslaught in the south.
The pilot phase should include agreement by state governments to provide veterinary services,good breeds at subsidized rate and eventually buy the adult cows,milk,hides,bones,horn and manure from the individual farmers at good price and transport it to processing zones or markets.
(All these farms MUST BE RANCHED ).
This is using a bird to kill two stone by introducing the south back into cattle rearing business ( the herdsmen use this as a guise to stay inside our forest and cause mayem ,if this is done many of them will return back to their country or state of Origin.
Also the move will provide agro.processing opportunities for our people and investors and also give us an opportunity to take back our cash and keep it within our regions.
Note:over 75_83 % of cattles produced or imported from Nigeria neighbours ends up in the south and middle belt as average hausa or even Fulanis don't consume beef .



(C)Mamaafrik.

Hmmm 🤔


We have had enough Banks here already yet the services rendered is as if it is designed to punish it s

Good 😊

I hope it will add more innovative value to the system than these our conventional bank.

Lol na for Boys to start to load Dem directly and not look for Yankee bank again....


U will see Something like 12yrs old used Nigeria JP Morgan with 22yrs history needed for 100 billion Dollars

Why Lagos? Is Abuja not our capital? Why can't the government force these big financial dictators to move to Abuja the capital. These mega companies are the ones creating confusion by making only one city the pillar of our economy. A city that hosts 95% of all ed financial and tech companies in Nigeria is a threat our unity. What happened to even Warri, PH or Kano or even Enugu.

Nice one

zero8zero:


https://www.thecable.ng/report-jp-morgan-to-establish-full-banking-branch-in-nigeria/

JP Morgan just wants cash out by offering dollar loans to multinational companies. If not, what would an American bank be doing in Nigeria? The GDP of California alone is bigger than that of the entire African continent.

Prosperous111:
Nah to open an and they load an steadily 🥂

I go first apply for CC, chop am clean mouth, then open a checking and load am straight

Sho ni CC?

We have pinned this

Welcome to Nigeria

At least International Transfers would be easier.

Obidients are likely to ignore this, na propaganda!
To them no investors will cone to Nigeria because their mentor de dismarket Nigeria!

SmartPolician:
JP Morgan just want cash out from Nigerians in diaspora sending money bank home. If not, what would an American bank be doing in Nigeria? The GDP of California alone is bigger than that of the entire African continent.

Lol what's Standard Chartered doing in Nigeria....

Or is Standard Chartered a Nigeria Bank Even Stanbic isn't from Nigeria..


Or you think everything is about diaspora....

Can we use it to receive funds from our freelance ventures

tHIS IS A BIG FEAT

Prosperous111:
Nah to open an and they load an steadily 🥂

I go first apply for CC, chop am clean mouth, then open a checking and load am straight

Sho ni CC?

Ogun go kill your papa

inoki247:




Lol what's Standard Chartered doing in Nigeria....

Or is Standard Chartered a Nigeria Bank Even Stanbic isn't from Nigeria..


Or you think everything is about diaspora....

Stanbic is a South African bank, not American bank. I have read the article and seen that JP Morgan wants to lend to multinational companies seeking loans in USD.

They are not here to start asking everyday people to open s with them, like Nigerian banks, because it's totally useless, considering how worthless E-Bola has rendered naira.

Bobby4090:
Why Lagos? Is Abuja not our capital? Why can't the government force these big financial dictators to move to Abuja the capital. These mega companies are the ones creating confusion by making only one city the pillar of our economy. A city that hosts 95% of all ed financial and tech companies in Nigeria is a threat our unity. What happened to even Warri, PH or Kano or even Enugu.

What a stupid comment. What is the business of JP Morgan with your fanciful ideas of your unity and what you think threatens it?

They are here to invest directly in businesses, provide advisory services and facilitate large transactions, rather than serving individual customers like a traditional bank.

Simply put, if you are not Dangote Plc or the likes, you won't even know they are here. "Merchant banking" is what they are here to do; in fact they have been around for a while.

Nice

Nigeria being dissected and shared to all western sharks and hyenas by the Impostor in Chief

Yestogood:
They are here to invest directly in businesses, provide advisory services and facilitate large transactions, rather than serving individual customers like a traditional bank.

Simply put, if you are not Dangote Plc or the likes, you won't even know they are here. "Merchant banking" is what they are here to do; in fact they have been around for a while.

Put in a different way; they are here to finance the hyjack of whatever is remaining of Nigerias oil and gas sector by western imperialists giants.. Right?

zero8zero:


https://www.thecable.ng/report-jp-morgan-to-establish-full-banking-branch-in-nigeria/

This time, CBN will do a better job of monitoring them strictly

Something up there wants JP Morgan in its village 😩

Yestogood:
They are here to invest directly in businesses, provide advisory services and facilitate large transactions, rather than serving individual customers like a traditional bank.

Simply put, if you are not Dangote Plc or the likes, you won't even know they are here. "Merchant banking" is what they are here to do; in fact they have been around for a while.

so basically common knowledge

Hope they are coming in their full form.

I don't see this happening in the short term, JP Morgan is not known to do conventional commercial banking.........,.

Prosperous111:
Nah to open an and they load an steadily 🥂

I go first apply for CC, chop am clean mouth, then open a checking and load am straight

Sho ni CC?

Lol, smh. This is not what they're here for lmao

inoki247:




Lol what's Standard Chartered doing in Nigeria....

Or is Standard Chartered a Nigeria Bank Even Stanbic isn't from Nigeria..


Or you think everything is about diaspora....

I think stanbic is a branch of standard bank of south Africa