JPMORGAN TO REVEAL BANKERS WHO OK'D US$875M TRANSFERS

JPMorgan Chase & Co. agreed to identify any bank officials who signed off on US$875 million of transfers to a former Nigerian oil minister, after the government said that some of the lender's own managers expressed concerns. The west African nation has accused the U.S. bank in a London lawsuit of ignoring red flags when it transferred funds between 2011 to 2013 from government accounts to Dan Etete, who had been convicted of money laundering. The current government says a contract awarded by one of its predecessors to explore the deep waters off the Gulf of Guinea was corrupt. Lawyers for JPMorgan and the Nigerian government said at the end of a London court hearing Thursday that the bank would clarify who was involved in the decisions on the payments. The trial is expected in early 2022.