Udo Udoma & Belo-Osagie (“UUBO”) is pleased to announce that it is advising JPMorgan Chase & Co. (“JPMorgan”), a leading global financial institution, on the ongoing establishment of a merchant bank in Nigeria (the “Bank”).
The Central Bank of Nigeria (“CBN”) has granted approval-in-principle for the establishment of the Bank, marking a significant milestone in the licensing process. The proposed Bank will build on JPMorgan’s longstanding presence in Nigeria through its Nigerian representative office.
Our multidisciplinary team has advised (and advising) on the regulatory, licensing, structuring, corporate governance, compliance, secretarial and other aspects of the project. This has included supporting JPMorgan in its engagements with the CBN and throughout the processes leading to the grant of the approval-in-principle. The team has also advised on the legal and regulatory aspects of the Bank’s proposed operations, including capital markets, treasury and risk management matters, payments etc. We look forward to continuing our legal support to JPMorgan and the Bank.
The mandate reflects UUBO’s expertise in business establishment, banking regulation and financial institutions advisory, as well as our continued role in supporting leading global financial institutions on their strategic investments and expansion in Nigeria.
The UUBO team includes partners Joseph Eimunjeze, Yinka Edu and Amina Ibrahim, with support from Lisa Esamah and other members of the firm’s Banking and Finance, Capital Markets, Regulatory Compliance and Corporate Advisory practices.
For more information about our Banking and Finance, Capital Markets, Corporate Advisory, Business Establishment and other practice areas, please visit www.uubo.org or contact us at uubo@uubo.org.
