Economy

JPMorgan reportedly deposits $38 million with Nigeria’s central bank as banking launch moves closer

JPMorgan Chase has reportedly deposited ₦50 billion, approximately $38 million, with the Central Bank of Nigeria as the US banking giant moves closer to securing a merchant banking licence. JPMorgan has reportedly deposited ₦50 billion ($38 million) with the CBN as it seeks a Nigerian merchant banking licence. The…

Business Insider AfricaBy Ayodeji Adegboyega21 October 2026 at 08:30 UTC · 23h ago

JPMorgan reportedly deposits $38 million with Nigeria’s central bank as banking launch moves closer — Image via Business Insider Africa

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Original headline: “JPMorgan reportedly deposits $38 million with Nigeria’s central bank as banking launch moves closer”

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