* LemFi, Kuda, Moniepoint and Fidelity Bank expand offshore operations
* Twinings Ovaltine opens £24m Lagos manufacturing facility
Hundreds of new jobs are set to be created as Nigerian banks, fintech innovators and creative industry businesses scale up their operations in Britain.
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 – while showcasing Nigeria’s expanding role as a key source of innovation and investment into the UK, growing both economies.
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.
It comes as the President of the Federal Republic of Nigeria, Bola Ahmed Tinubu, accompanied by the First Lady, Mrs. Oluremi Tinubu, are set to commence an historic State Visit, tomorrow, March 18th, strengthening the UK’s position as a global hub for African business.
Thanks to the UK’s Trade and Industrial Strategies – combined with commitments made through the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP) – the government is attracting investment into key growth sectors including financial services, technology, education, and advanced manufacturing.
A statement, Tuesday, signed by the British High Commission, Abuja, noted that the Deputy Prime Minister held an ETIP reception at Kensington Palace, Tuesday, bringing together 180 senior representatives from government and industry to celebrate the breadth, depth, and continued growth of our trade relationship across priority sectors including financial services, education, creative industries, infrastructure and technology.
The UK’s Trade Envoy to Nigeria, Florence Eshalomi, also addressed the group.
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.”
Zenith Bank, one of Nigeria’s largest financial institutions, opens its Manchester branch Tuesday, with the capacity to create up to 30 new direct jobs in a boost for the Northwest economy.
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’s acquisition and rebrand of Union Bank UK 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. Seven Nigerian banks now operate in the UK, supporting at least 1,000 jobs in total.
Group Managing Director/CEO, Zenith Bank PLC, Dame Dr Adaora Umeoji, 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.”
Nigerian fintech investment is also accelerating rapidly. LemFi will invest £100 million over the next five years as it designates London its global headquarters. Moniepoint plans to grow its London based team to 100 employees in 2026, building the infrastructure that supports millions of African users worldwide. Kuda Bank is strengthening its UK headquarters as the base for global expansion and plans to double its UK footprint in 2026.
The UK’s reputation as a global creative capital also continues to deepen ties through 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.
Also, 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 UK Advertising Exports Group will announce a strategic partnership with the Nigerian advertising sector. This will include a UK-Nigeria Advertising Summit taking place later this year and a talent exchange scheme which will deepen bilateral engagement.
