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CBN GETS JP MORGAN APPROVAL TO ESTABLISH BANK IN NIGERIA

October 23, 2026 • Dons Eze • 1 min read

CBN GETS JP MORGAN APPROVAL TO ESTABLISH BANK IN NIGERIA

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The Central Bank of Nigeria, CBN, has granted JP Morgan approval-in-principle to establish a merchant bank in Nigeria after receiving a deposit of $38 million.

CBN made this disclosure in a statement on Friday.

The apex bank said the proposed lender, to be known as JPMorgan Merchant Bank Nigeria Limited, will be required to obtain a final banking licence before commencing operations.

Three days ago JP Morgan made a $38 million deposit to CBN for its banking licence.

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Dons Eze

DONS EZE, PhD, Political Philosopher and Journalist of over four decades standing, worked in several newspaper houses across the country, and rose to the positions of Editor and General Manager. A UNESCO Fellow in Journalism, Dr. Dons Eze, a prolific writer and author of many books, attended several courses on Journalism and Communication in both Nigeria and overseas, including a Postgraduate Course on Journalism at Warsaw, Poland; Strategic Communication and Practical Communication Approach at RIPA International, London, the United Kingdom, among others.

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