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Nigeria
J.P. Morgan in Nigeria
Local expertise. Global resources. Our commitment to Nigeria.
We are committed to our business in Sub-Saharan Africa, and we are one of the most prominent financial services firms in the country. From our office in Lagos, we provide clients with products and services from across our asset management, private banking and corporate and investment bank lines of business.
Within the Europe, Middle East, and Africa (EMEA) region, J.P. Morgan has an unparalleled client base and leadership across the spectrum of financial services products.
Globally, through the JPMorgan Chase Foundation, we make philanthropic investments in cities where we have major operations, assisting those at a disadvantage by helping them build better lives for themselves, their families and their communities. Across EMEA, the firm focuses its investment and attention on three pillars: Economic Development, Financial Empowerment and Workforce Readiness.
J.P. Morgan is a global leader in financial services, offering solutions to the world's most important corporations, governments and institutions in more than 100 countries. As announced in 2020, JPMorgan Chase will deploy $2 billion in philanthropic capital around the world by 2025. We also lead volunteer service activities for employees in local communities by utilizing our many resources, including those that stem from access to capital, economies of scale, global reach and expertise.
Our Local History
With a legacy dating back to 1799, we have a history of demonstrating leadership during times of both economic growth and financial instability. Below you will find major milestones from the firm’s history in Nigeria. The institutions listed in the timeline are several examples of the over 1,200 predecessors that make up today’s JPMorgan Chase.
1960: Chase International Investment Corporation, a subsidiary of the Chase Manhattan Bank, is the lead partner in organizing Nigerian Textile Mills in Lagos, the first major private industrial project with an American interest in Nigeria.
1961: A Chase Manhattan Bank branch opens in Lagos, offering a full range of commercial banking services for local businessmen and individuals.
1974: The First National Bank of Chicago opens a merchant bank in Nigeria to specialize in corporate and project financing of Nigeria’s industrial infrastructure. This is the first merchant bank established in Nigeria by an American bank.
1975: A subsidiary of Morgan Guaranty Trust Company joins with the Nigerian Industrial Development Bank Ltd., Lagos, to form Icon, Ltd., a merchant bank in Lagos.
1978: A Chase Manhattan Bank subsidiary joins six banks, including The First National Bank of Chicago and Morgan Guaranty, in a US$1 billion loan to develop Nigeria’s industry and infrastructure.
1982: Chase Manhattan Bank opens a representative office in Nigeria.
2007: JPMorgan Chase wins a mandate to issue Depositary Receipts for Guaranty Trust Bank, a Nigerian company. It is JPMorgan’s first DR deal out of Nigeria.
2014: JPMorgan Chase joins with the U.S. Overseas Private Investment Corporation on a co-financing loan for African Finance Corporation. The US$100 million long-term loan facility marks the first time the firm partnered with OPIC to help the AFC, and is intended to further deepen the AFC’s resources to support infrastructure development in Sub-Saharan Africa.
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