Adedapo Adedayo Olagunju, an Oxford-trained banker who has led JPMorgan’s West African operations since 2018, is about to go the American monetary establishment’s proposed service provider financial institution in Nigeria, following the Central Financial institution of Nigeria’s (CBN) approval of his nomination as Managing Director.
The CBN disclosed its approval of Olagunju’s nomination in a remark issued on Friday, October 23, 2026, along its determination to grant JPMorgan approval-in-principle to establish JPMorgan Merchant Bank Nigeria Limited.
The proposed financial institution is but to obtain a last running licence.
Along Olagunju, the CBN additionally authorized Latter Kevin George, Nzelu Chinedum Izunwanne and Syed Gabriel Murtaza as Non-Govt Administrators, whilst Alade Sarah Omotunde, Ajayi Olukonyinsola and Adetu Seni had been appointed Impartial Non-Govt Administrators.
For Olagunju, the appointment marks any other milestone in a occupation that started in Nigeria’s funding banking business. However lengthy earlier than managing monetary markets and institutional relationships, his ambition was once to discover area.
From dreaming of turning into an astronaut to development a banking occupation
Rising up, Olagunju was once desirous about area commute and dreamed of turning into an astronaut, an ambition that first of all formed his determination to review science in secondary college.
On the other hand, that ambition took a special route when he started exploring college admission alternatives in Nigeria.
In a Might 2019 interview, Olagunju recalled finding that the Joint Admissions and Matriculation Board (JAMB) brochure didn’t be offering a path associated with aeronautical engineering, proscribing his choices for pursuing his formative years dream.
- His folks additionally positioned substantial emphasis on educational fulfillment, prompting him to take a seat for the Unified Tertiary Matriculation Exam’s predecessor, the JAMB front exam, earlier than finishing secondary college.
Having already handed the non-public Senior Faculty Certificates Exam (SSCE), he secured admission to school earlier than sitting for his West African Examinations Council (WAEC) examinations.
Even though his ambition to turn into an astronaut didn’t materialise, his educational adventure sooner or later led him into finance, a box during which he would construct his skilled occupation.
- He graduated from Ogun State College, now Olabisi Onabanjo College, in 1998 with a bachelor’s level in Banking and Finance.
- A 12 months later, in 1999, he certified as a chartered accountant, including a certified accounting qualification to his college schooling.
On the other hand, his determination to pursue accounting was once partially influenced by means of the instability that characterized Nigeria’s college gadget within the Nineteen Nineties.
On the time, widespread business movements by means of college academics and scholar demonstrations continuously disrupted educational actions, leaving scholars out of college for prolonged sessions.
Fairly than permit a type of extended breaks to break his educational growth, Olagunju started getting ready for examinations organised by means of the Institute of Chartered Accountants of Nigeria (ICAN).
The verdict proved vital, as he finished the pro qualification in a while after graduating and due to this fact secured a chance in funding banking.
- His pursuit of additional schooling endured past Nigeria. In 2005, he attended the College of Oxford for a Grasp of Industry Management (MBA), earlier than finishing Harvard Industry Faculty’s Common Control Programme in 2014.
He’s additionally a Fellow of the Institute of Chartered Accountants of Nigeria and an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria.
From IBTC to JPMorgan, a occupation spanning over twenty years
Olagunju’s skilled banking occupation started at Funding Banking & Consider Corporate (IBTC), an establishment that later changed into a part of Stanbic IBTC, the place he served as Leader Broker between January 2000 and March 2003.
- His access into IBTC got here at a duration when Nigeria was once present process vital financial and political adjustments following its go back to democratic governance in 1999.
- After spending simply over 3 years at IBTC, he moved to Get right of entry to Financial institution in 2003 as Treasurer, a place he held till September 2005.
His duties in treasury control gave him additional publicity to banking liquidity, monetary markets and the control of economic belongings and liabilities.
Following his preliminary duration at Get right of entry to Financial institution, Olagunju in brief labored as a expert with the United International locations between Might and July 2006, contributing to the organisation’s peacekeeping financing operations in New York.
- He due to this fact returned to Get right of entry to Financial institution in September 2006, starting an 11-year duration as Workforce Treasurer that lasted till January 2018.
- Throughout this era, he changed into liable for key facets of the financial institution’s treasury operations, together with stability sheet control and actions involving fixed-income securities and foreign currencies markets.
His duties expanded additional in January 2017 when he changed into Head of World Markets, overseeing a industry workforce that mixed Treasury, Monetary Establishments, and Challenge and Structured Finance.
The placement introduced in combination a number of spaces of company and institutional banking, from managing relationships with different monetary establishments to offering structured financing and advisory products and services to shoppers.
After just about 15 years of affiliation with Get right of entry to Financial institution, Olagunju made any other occupation transfer in January 2018, becoming a member of JPMorgan as Managing Director liable for its West African industry.
- The appointment positioned him on the helm of the American monetary establishment’s actions around the area, the place he has spent the previous 8 years overseeing its engagement with monetary establishments, company shoppers and different marketplace members.
His management has coincided with JPMorgan’s efforts to deepen its African presence, together with its plans to ascertain a completely authorized service provider banking operation in Nigeria.
- On October 8, 2026, Olagunju disclosed the ones plans all through the Nigeria–Asia Monetary Connectivity Discussion in Singapore, an tournament involving the CBN, JPMorgan, Nigerian Alternate Workforce and FMDQ Workforce.
The proposed service provider financial institution would extend JPMorgan’s present Nigerian presence past its consultant administrative center in Lagos, permitting it to pursue a much wider vary of regulated banking actions as soon as it secures a last licence.
With the CBN now approving his appointment as Managing Director of the proposed subsidiary, Olagunju is situated to steer the following section of JPMorgan’s growth in Nigeria, greater than 26 years after starting his skilled adventure at IBTC.