J.P. Morgan's Dapo Olagunju Announces Nigeria Expansion Plans

Dapo Olagunju, the Managing Director of J.P. Morgan West Africa, stated that the Central Bank of Nigeria's regulatory standards and economic reforms over the past three to four years influenced the bank's decision to expand its operations in Nigeria.

Olagunju made these remarks during a panel on attracting investment at the 32nd Nigerian Economic Summit in Abuja. He expressed confidence in the reforms, likening their significance to a pivotal moment in Nigeria's political and economic history.

On October 23, 2026, the Central Bank of Nigeria granted approval-in-principle for JPMorgan Merchant Bank Nigeria Limited, with Olagunju nominated as Managing Director. The bank requires a final operating license to commence activities.

Olagunju has led J.P. Morgan's West African business since January 2018, managing relationships with financial institutions and corporate clients.

He is an Oxford-trained banker with over two decades of experience in financial services.