By Danjuma Amodu | March 18, 2026
Nigerian companies are making significant inroads in the UK market, with Zenith Bank opening a new branch in Manchester and others like LemFi, Moniepoint, and Fidelity Bank expanding their operations. This development comes as President Bola Tinubu embarks on a historic State Visit to the UK, aiming to strengthen diplomatic and economic relations between the two nations.
Zenith Bank Leads the Charge
On the heels of President Tinubu’s visit, Zenith Bank officially launched a branch in Manchester, marking a significant milestone in its international expansion strategy. The branch will provide corporate banking, trade finance, and treasury services to clients operating across the UK, Europe, and Africa, creating up to 30 new direct jobs and boosting the North West economy.
According to Ndidiamaka Eze, Senior Press and Public Affairs Officer, Growth, Trade and Investment (GTI), Nigeria Network, the move reinforces the UK’s position as a leading global business hub and showcases Nigeria’s growing role as a key source of innovation and investment into the UK.
Dame Dr. Adaora Umeoji, Group Managing Director/CEO of Zenith Bank, stated, “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.”
Other Nigerian Companies Expanding in the UK
LemFi is investing £100 million over five years and designating London its global headquarters. Moniepoint is growing its London-based team to 100 employees in 2026. Kuda Bank is strengthening its UK headquarters for global expansion. Fidelity Bank is acquiring and rebranding Union Bank UK to FidBank UK, with plans to double its workforce in 2026.
Strengthening Trade and Investment
This development is part of the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP), which has attracted investments in key sectors, including financial services, technology, education, and advanced manufacturing. Twinings Ovaltine has launched a £24 million manufacturing facility in Lagos, creating over 100 direct jobs and boosting exports across West Africa.
The UK government has welcomed these investments, with Deputy Prime Minister David Lammy stating, “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.”
Key Developments
The SCALE Creative Entrepreneur Award Programme is supporting young Nigerian and UK creative entrepreneurs. A UK-Nigeria Advertising Summit and talent exchange scheme is in the works. The UK-Nigeria Season of Culture will take place in 2028. British fintech Wise has received approval for its first Nigerian licence. The Nigeria Sovereign Investment Authority has signed an agreement with Asset Green Ltd for a large-scale dairy project.
Education and Innovation
Leading UK universities are also expanding into Nigeria. The University of Birmingham and the University of Lagos have an agreement to deliver programmes in Applied AI, Digital Communications and Global Surgery. The LSE has a Data Science partnership with Nile University of Nigeria. Wellington College International Lagos will open in 2027, offering places for 1,500 students.
Growing Economic Ties
Bilateral trade between the UK and Nigeria has reached an all-time high of £8.1 billion annually, demonstrating the growing economic relationship between the two nations. Zenith Bank plans to list on the London Stock Exchange in 2027 to broaden access to capital and strengthen client services.
