JPMorgan's Olagunju Nominated as Nigeria Bank Chief

Adedapo Adedayo Olagunju has been nominated as the Managing Director of the proposed Merchant Bank Nigeria Limited, following the Central Bank of Nigeria's approval on October 23, 2026. Olagunju has led JPMorgan’s West African operations since January 2018.

The proposed bank aims to expand JPMorgan’s presence in Nigeria beyond its representative office in Lagos, allowing for a broader range of regulated banking activities once it secures its final operating license. Olagunju announced JPMorgan’s plans to establish this merchant bank during the Nigeria–Asia Financial Connectivity Dialogue in Singapore on October 8, 2026.

His banking career spans over two decades, with expertise in treasury management, financial markets, and structured finance. He holds a bachelor’s degree in Banking and Finance from Olabisi Onabanjo University, an MBA from the University of Oxford, and completed Harvard Business School’s General Management Programme in 2014.