US biggest Bank to open in Nigeria, Olagunju tipped as Head
By Samuel Ogunsona
An experienced banker, Dapo Olagunju is set to head upcoming JP Morgan Merchant Bank in Nigeria.
JP Morgan is the biggest Bank in the United States. The bank’s fray into the Nigerian market is seen by observers as a confirmation of the growing global trust in President Bola Ahmed Tinubu’s ongoing reforms.
Olagunju who was trained at Oxford has more than 20 years experience in banking and financial services.
He was nominated to lead JPMorgan’s proposed merchant bank in Nigeria.
The Central Bank of Nigeria, (CBN) recently approved the new Merchant Bank.
Olagunju was in charge of JPMorgan’s West African business since January 2018.
He had the responsibility to handle financial matters, corporate clients and relate with actors in the West Africa’s financial markets.
JPMorgan has stretched its presence to Nigeria with initial deposit of N50b to the CBN for the proposed Merchant Bank.
JPMorgan has some $5.1 trillion in
Market Capitalization with market value worth between $880 billion to $940 billion making the bank one of the largest un the world.
As at 2026 the bank holds about $5.1 trillion in assets.
It is the biggest bank in the United States.
The company is projected to have received earnings under CEO Jamie Dimon projected to make JPMorgan the first-ever bank to cross the $1 trillion market milestone.
Earlier on October 23, 2026, the CBN had pronounced the approval giving the greenlight for the take off of JPMorgan Merchant Bank Nigeria Limited.
The institution also annonced Olagunju as the new Managing Director.
The proposed bank is still awaiting a final operating licence. BuyMaps
