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![dipoaina1 Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1483830790014357507.png) Ainà Dipo 🇳🇬 [@dipoaina1](/creator/twitter/dipoaina1) on x 44.8K followers
Created: 2025-04-03 16:23:26 UTC

UNDER TINUBU PRESIDENCY:

As six (6) top Nigerian Banks raked in nearly $1bn dollars profit after tax.

American @jpmorgan plans to apply for a merchant banking licence from the Central Bank of Nigeria (CBN) in the coming months.

The  multinational financial services firm, JP Morgan Chase & Co., is gearing up to expand its operations in Nigeria by converting its long-standing Lagos representative office into a fully operational business branch.

The move marks a significant development in the U.S. bank’s strategy to strengthen its foothold in Africa’s largest economy.

Be expecting HSBC, Barclays, Wells Fargo, Deutsche Bank and Credit Swiss Bank to open their own merchant banks in Nigeria.

![](https://pbs.twimg.com/media/Gnn6dlbXkAAkhyd.jpg)

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**Related Topics**
[nigeria](/topic/nigeria)
[bank of](/topic/bank-of)
[banking](/topic/banking)
[business loans](/topic/business-loans)
[tax bracket](/topic/tax-bracket)
[$1bn](/topic/$1bn)
[tinubu](/topic/tinubu)
[$9627t](/topic/$9627t)

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