Nigerian Banks and Financial Technology companies, including LemFi, Kuda, Moniepoint, Fidelity Bank, and Zenith Bank, have expanded European operations to boost the economy as President Bola Tinubu embarks on a two-day state visit to the United Kingdom.

The two-day State Visit, at the invitation of King Charles III and Queen Camilla, will see Tinubu become the first Nigerian leader in decades to undertake such a visit, and the first ever to be formally received at Windsor Castle by a reigning British monarch.

Tinubu’s visit is aimed at strengthening bilateral relations and exploring avenues for collaboration on issues such as immigration, trade, investment, and cultural exchange.

Twinings Ovaltine opens a £24 million Lagos manufacturing facility, and Zenith Bank opens a new Manchester branch, indicating a major boost to the Northwest economy.

Hundreds of new jobs are set to be created as Nigerian banks, fintech innovators and creative industry businesses scale up their operations in Britain.

According to a statement signed by Ndidiamaka Eze, the Senior Press and Public Affairs Officer, Growth, Trade and Investment (GTI), Nigeria Network, the move will see millions invested, reinforcing the UK’s position as a leading global business hub, backed by world‑class talent, strong access to capital, and a stable regulatory environment.

The move will also showcase Nigeria’s expanding role as a key source of innovation and investment into the UK, growing both economies.

The statement revealed that the UK’s Twinings Ovaltine has launched a £24 million manufacturing facility in Lagos, its first in Africa, creating over 100 direct jobs and boosting the company’s exports across West Africa.

Eze credited the UK’s Trade and Industrial Strategies, combined with commitments made through the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP), noting that the government is attracting investment into key growth sectors, including financial services, technology, education and advanced manufacturing.

The statement further revealed that the Deputy Prime Minister, David Lammy, held an ETIP reception yesterday at Kensington Palace, bringing together 180 senior representatives from government and industry to celebrate the breadth, depth, and continued growth of the Nigeria-UK trade relationship across priority sectors, including financial services, education, creative industries, infrastructure and technology.

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.”

The UK’s Trade Envoy to Nigeria, Florence Eshalomi, also addressed the group.

The UK 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.”

Zenith Bank, one of Nigeria’s largest financial institutions, opens its Manchester branch on Tuesday with the capacity to create up to 30 new direct jobs in a boost for the Northwest economy.

The statement revealed that the bank is also exploring a 2027 London Stock Exchange listing to deepen its UK market presence and unlock long-term funding for UK-Africa growth.

Fidelity Bank also acquired and rebranded the UK branch of Union Bank into FidBank UK with plans to double its 62‑person workforce in 2026 and add new capital, while the Fidelity Group makes London its global hub.

FCMB has also selected the UK as the first international destination for its digital cross-border payments platform, boosting trade and investment flows between Africa and the rest of the world.

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The statement noted that seven Nigerian banks now operate in the UK, supporting at least 1,000 jobs in total.

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.”

According to the statement, LemFi will invest £100 million over the next five years as it designates London its global headquarters, while Moniepoint plans to grow its London-based team to 100 employees in 2026, and build the infrastructure that supports millions of African users worldwide.

Kuda Bank is also strengthening its UK headquarters as the base for global expansion and plans to double its UK footprint in 2026.

The statement further revealed that creative industry brands, including EbonyLife, SCALE, and others, have repositioned to embrace the UK-Nigeria bilateral trade relations.

EbonyLife, one of Nigeria’s leading creative industry brands, will launch EbonyLife Place London, creating up to 40 new jobs and strengthening the UK’s role as a home for African storytelling and creative talent.

The SCALE Creative Entrepreneur Award Programme, developed by the British Council and supported by the Department for Business and Trade, will support young Nigerian and UK creative entrepreneurs to grow internationally and build lasting ties to benefit both the UK and Nigerian creative economies.’

The statement also revealed that the UK Advertising Exports Group will announce a strategic partnership with the Nigerian advertising sector, adding that this will include a UK-Nigeria Advertising Summit taking place later this year and a talent exchange scheme which will deepen bilateral engagement.

The British Council and the Federal Ministry of Art, Culture, Tourism and Creative Economy in Nigeria will deliver the UK-Nigeria Season of Culture in 2028, involving a range of innovative initiatives and events designed by UK and Nigerian creative organisations.

A Creative Industries Roundtable at Lancaster House will bring together alumni, Chevening scholars and creative leaders from both countries.

British fintech Wise will receive approval for its first Nigerian licence, enabling it to expand in a remittances market valued at up to £39.9 million.

The Nigeria Sovereign Investment Authority (NSIA) has signed an agreement with Asset Green Ltd to explore a large-scale integrated dairy project that will strengthen Nigeria’s dairy value chain, reduce reliance on imports and improve nutrition.

Leading UK universities are also expanding into Nigeria, helping train the next generation of Nigerian and British scientists, technologists and innovators. Nigeria is a key education partner and a priority country for the UK’s International Education Strategy.

The University of Birmingham and the University of Lagos have signed a new agreement to deliver programmes in Applied AI, Digital Communications and Global Surgery.

The LSE has launched a new Data Science partnership with Nile University of Nigeria, alongside the University of the West of England, opening a dedicated office in Lagos.

Wellington College International Lagos will open in 2027, offering places for 1,500 students – becoming one of West Africa’s flagship British curriculum schools.

EStars, a UK‑owned educational esports and technology company, will partner with the Lagos State Ministry of Basic and Secondary Education to deliver esports‑based digital learning programmes to around three million students.
Notes to Editors:

With bilateral trade now at an all-time high of £8.1 billion a year, the UK and Nigeria are showing how countries grow faster when they grow together.