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JP Morgan to secure Nigerian banking licence after N50 billion deposit with CBN – Report
JP Morgan Chase has deposited N50 billion with the Central Bank of Nigeria as part of the final regulatory steps to obtain a banking licence. The US bank aims to set up a merchant banking subsidiary in Nigeria and expects approval by the end of this year or early 2027.
Pidgin: JP Morgan Chase don deposit N50 billion for Central Bank of Nigeria as part of di final regulatory steps to get banking licence. Di US bank wan set up merchant banking subsidiary for Nigeria and dem dey expect approval by end of dis year or early 2027.
How this affects you: No direct impact stated in source.
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