The growing presence of global financial institution JP Morgan in Nigeria signals renewed international investor confidence in the economy and the reforms of President Bola Tinubu, the Nigeria Revenue Service has said.

The Executive Chairman of the NRS Zacch Adedeji stated this on Monday when he received Adedapo Olagunju the newly appointed Managing Director of JP Morgan Nigeria during a courtesy visit to the headquarters of the Service in Abuja.

Adedeji said the confidence of international financial institutions reflects the credibility stability and predictability that the economic reforms and fiscal policies of President Tinubu are building for the country.

He noted that a transparent efficient and predictable fiscal environment remains critical to attracting global capital strengthening institutional partnerships and positioning Nigeria as a competitive investment destination for long term investors.

According to him the interest shown by JP Morgan reinforces the importance of sustaining reforms that improve the business environment and give investors greater certainty in making investment decisions in Nigeria.

The meeting comes after the Central Bank of Nigeria recently granted JP Morgan approval in principle to establish a merchant bank in Nigeria to be known as JPMorgan Merchant Bank Nigeria Limited pending final licence approval.