UK backs Moniepoint to boost trade with Nigeria

As UK-Nigeria trade relations gear up for substantial growth across key sectors, the British Deputy High Commissioner in Lagos, Mr. Jonny Baxter, has paid a working visit to Moniepoint’s UK office, reaffirming the United Kingdom’s commitment to strengthening economic collaboration with Nigeria through strategic partnerships.

The visit underscores the importance of cross-border collaboration in advancing innovation, inclusive growth, and digital transformation.

Moniepoint, a leading African fintech player with a rapidly growing global presence, represents a compelling case study in how bilateral cooperation can unlock significant economic opportunities.

During high-level discussions, both parties focused on deepening trade and investment ties between the two countries.

Mr. Baxter reiterated that trade remains a cornerstone of diplomatic and economic relations between the UK and Nigeria, particularly in sectors such as energy, infrastructure, and financial services.

“Trade and investment are pillars of UK-Nigeria relations. We’re proud to be part of a movement that’s turning those pillars into bridges for real economic transformation. Our mission has always been to engineer financial happiness while powering the dreams of millions of businesses and individuals through digital financial technology.

“Every step we take—whether in Nigeria or the UK—is about making that vision a reality. Our growth is a testament to what’s possible when partnerships go beyond investment—it’s about shared prosperity and innovation,” said Tosin Eniolorunda, Founder and Group CEO of Moniepoint.

Mr. Baxter also referenced the British International Investment (BII)’s support for Moniepoint Inc as a strategic step toward expanding economic opportunities for small businesses in Africa, promoting financial inclusion, and backing enterprises with meaningful social impact.

Eniolorunda, in turn, commended the British government and the Department for Business and Trade (DBT) for fostering a supportive environment for Nigerian businesses operating in the UK. He stressed that Moniepoint’s UK operations exemplify a mutually beneficial economic relationship, rather than a one-directional flow of investment.

He further highlighted the Enhanced Trade and Investment Partnership (ETIP) between Nigeria and the UK as a pivotal framework for advancing regulatory cooperation, improving market access, and creating employment in emerging industries.

According to Eniolorunda, areas such as innovative financial services and cybersecurity represent promising frontiers for collaboration.

“Trade and investment are pillars of UK-Nigeria relations. We’re proud to be part of a movement that’s turning those pillars into bridges for real economic transformation,” he said.

Moniepoint operates as a comprehensive financial ecosystem—providing seamless payments, digital banking, credit, business management, and cross-border solutions to over 10 million businesses and individuals.

Its impact is especially visible among Nigeria’s informal sector and small and medium-sized enterprises (SMEs), where it has become the leading financial platform. The company processes more than one billion transactions monthly, with a total payment volume surpassing $22 billion, and has twice been named Africa’s fastest-growing financial institution.

During the visit, Moniepoint revealed plans to launch new remittance solutions aimed at enabling Nigerians in the UK to send money back home easily and securely. These services will be powered by Moniepoint’s strong track record in delivering trust, speed, and transparency.

Among the executives present were Felix Ike, Co-Founder and Chief Technology Officer of Moniepoint Inc; Ross Strike, Senior Vice President for M&A and Investor Relations; and Ravi Jakhodia, CEO of Moniepoint UK.

The British delegation included Hugh de Lusignan, Head of Financial Services at the Department for Business and Trade, who praised Moniepoint as a symbol of Nigeria’s rising influence in global fintech.

De Lusignan also reiterated the UK’s commitment to enhancing bilateral economic cooperation, noting the significant potential for innovation and growth as both countries navigate a new era of strategic partnership.