Lagos, Nigeria — April 2025 — As the UK-Nigeria trade relationship enters a period of substantial growth, the British Deputy High Commissioner in Lagos, Mr. Jonny Baxter, visited Moniepoint’s UK office to reaffirm the United Kingdom’s commitment to deepening economic collaboration with Nigeria through strategic partnerships.
The visit emphasizes the pivotal role of cross-border collaboration in driving innovation, inclusive growth, and digital transformation—key areas that have become central to both countries’ future economic agendas.
Moniepoint: A Model of Bilateral Collaboration
Moniepoint, a rapidly growing African fintech powerhouse, is a prime example of how bilateral cooperation can unlock significant economic opportunities. During the high-level meetings, both parties emphasized expanding trade and investment ties between the UK and Nigeria.
Mr. Baxter highlighted the importance of trade as a cornerstone of UK-Nigeria relations, particularly in sectors like 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,” said Tosin Eniolorunda, Founder and Group CEO of Moniepoint.
“Our mission is to empower 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.”
British International Investment’s Support for Moniepoint
Mr. Baxter also acknowledged the role of British International Investment (BII) in supporting Moniepoint, calling it a strategic move that helps expand economic opportunities for small businesses across Africa and fosters financial inclusion. He highlighted the UK’s backing as an example of shared prosperity rather than just investment.
Eniolorunda reciprocated the praise, emphasizing the UK’s supportive environment for Nigerian businesses operating in the UK. He underscored that Moniepoint’s UK operations are a reflection of mutually beneficial economic cooperation.
The visit also shed light on the Enhanced Trade and Investment Partnership (ETIP) between Nigeria and the UK, which aims to strengthen regulatory cooperation, improve market access, and create employment in emerging industries. According to Eniolorunda, sectors like innovative financial services and cybersecurity are key areas where the two countries can collaborate further.
Moniepoint’s Growth and Future Plans
Moniepoint has emerged as a comprehensive financial ecosystem, offering seamless payments, digital banking, credit, business management, and cross-border solutions to over 10 million businesses and individuals. The company processes over one billion transactions monthly, with a total payment volume exceeding $22 billion. It has earned recognition as Africa’s fastest-growing financial institution twice.
The company’s impact is particularly notable among Nigeria’s informal sector and small and medium-sized enterprises (SMEs), where it has become the leading financial platform.
During the visit, Moniepoint unveiled plans to launch new remittance solutions aimed at enabling Nigerians in the UK to send money home easily and securely. These services will leverage Moniepoint’s track record of trust, speed, and transparency.
A Vision for Future Innovation and Growth
Present at the meeting were Felix Ike, Co-Founder and Chief Technology Officer of Moniepoint; Ross Strike, Senior Vice President for M&A and Investor Relations; and Ravi Jakhodia, CEO of Moniepoint UK.
On the British side, Hugh de Lusignan, Head of Financial Services at the Department for Business and Trade, praised Moniepoint as a symbol of Nigeria’s rising influence in global fintech. He reiterated the UK’s commitment to deepening bilateral economic cooperation, noting the significant potential for innovation and growth as both countries enter a new era of strategic partnership.
