Hundreds of jobs are expected to be created across the UK as Nigerian banks, fintech firms and creative businesses expand their British operations, alongside fresh UK investment into Nigeria…reports Asian Lite News
Nigerian companies, including LemFi, Kuda, Moniepoint, and Fidelity Bank, are scaling up their presence in the UK, bringing new investment and signalling deeper bilateral economic links. The expansion is expected to inject millions into the UK economy, reinforcing its position as a global business hub with strong access to capital, skilled talent and a stable regulatory framework.
The announcements come as Nigeria’s President, Bola Ahmed Tinubu, accompanied by First Lady Oluremi Tinubu, prepares to begin a State Visit, with engagements designed to strengthen trade and investment ties. The visit aligns with commitments under the UK–Nigeria Enhanced Trade and Investment Partnership (ETIP), which targets growth in sectors such as financial services, technology, education, and advanced manufacturing.
At an ETIP reception held at Kensington Palace, attended by 180 senior representatives from government and industry, officials highlighted the breadth of cooperation across priority sectors, including infrastructure, education, creative industries, and technology. Florence Eshalomi, the UK Trade Envoy to Nigeria, also addressed attendees.
Business and Trade Secretary Peter Kyle said, “The UK and Nigeria share a belief in the power of enterprise, innovation and education to transform lives, and today’s commitments show exactly that. With Nigerian firms creating jobs across the UK and British businesses expanding into one of the world’s fastest growing markets, our partnership is strengthening both economies and delivering real benefits for people in both countries.”
Deputy Prime Minister David Lammy said, “The UK and Nigeria’s Strategic Partnership is bringing momentum and opportunity to innovators in both our countries. We are reducing barriers, creating jobs and opening new pathways for growth. Growth is the core mission of this government and it underpins our relationship with Nigeria. I am deeply proud that the cultural and commercial bonds between our nations are thriving and that both our businesses and people are feeling the benefits of that.”
In a boost to the North West economy, Zenith Bank has opened a new branch in Manchester, with capacity to create up to 30 direct jobs. The bank is also exploring a potential London Stock Exchange listing in 2027 as part of plans to deepen its UK market presence and support long-term UK–Africa investment flows.
Other Nigerian financial institutions are also expanding. Fidbank plans to double its 62-person workforce in 2026 and add new capital, while the Fidelity Group is positioning London as its global hub. FCMB has selected the UK as the first international destination for its digital cross-border payments platform. Seven Nigerian banks now operate in the UK, collectively supporting at least 1,000 jobs.
Dame Dr. Adaora Umeoji OON, Group Managing Director/CEO, Zenith Bank PLC said, “The United Kingdom remains a key global financial centre. The opening of Zenith Bank, Manchester, therefore, marks another important milestone in our international expansion strategy, enabling us to deepen relationships with our customers, support trade and investments, and connect businesses between Africa and the UK more effectively.”
Fintech investment is also accelerating. LemFi plans to invest £100 million over five years as it establishes London as its global headquarters. Moniepoint aims to grow its London-based team to 100 employees in 2026, while Kuda Bank is strengthening its UK base and plans to double its footprint.
The creative industries are also seeing closer ties. EbonyLife plans to launch EbonyLife Place London, creating up to 40 jobs, while new initiatives, including the SCALE Creative Entrepreneur Award Programme and a planned UK–Nigeria Advertising Summit aim to deepen collaboration. A UK/Nigeria Season of Culture is scheduled for 2028.
British firms are also expanding in Nigeria. Twinings Ovaltine is launching a £24 million manufacturing facility in Lagos, its first in Africa, expected to create over 100 direct jobs and boost exports across West Africa. Fintech firm Wise is set to receive approval for its first Nigerian licence, enabling expansion in the remittances market.
Further agreements include a dairy development project backed by the Nigeria Sovereign Investment Authority and Asset Green Ltd, as well as a series of higher education partnerships. UK universities, including Birmingham and the London School of Economics, are expanding collaborations with Nigerian institutions, while Wellington College International Lagos is set to open in 2027. EStars will also deliver esports-based digital learning programmes to approximately 3 million students in partnership with the Lagos State authorities.
