Lagos: The United Kingdom is providing a trusted regulatory and investment environment that enables Nigerian fintechs to expand globally while retaining strong operational ties to Nigeria and Africa. The British Deputy High Commissioner in Lagos, Mr. Jonny Baxter, gave the assurance in an interview with the News Agency of Nigeria (NAN) in Lagos.
According to News Agency of Nigeria, Mr. Baxter described Nigeria as a priority partner for the United Kingdom, citing the country’s economic scale, innovative talent, and growing importance in financial technology. He emphasized that the United Kingdom is one of the world’s leading fintech hubs, combining global capital markets, deep financial expertise, and one of the most respected regulatory environments globally.
Baxter highlighted that London serves as a gateway to international markets, enabling companies to scale globally within a trusted and transparent ecosystem. “Our partnership also gives these companies credibility to operate globally and gives customers confidence to use them because they know there have been checks and some protections,” he stated.
The envoy explained that the United Kingdom-Nigeria Strategic Partnership was aligning the strengths of both countries to support Nigeria’s economic reforms, encourage sustainable investment, and create jobs. Baxter identified companies such as Moniepoint, LemFi, Kuda, and PiggyVest as firms taking advantage of this ecosystem.
He noted that many of Nigeria’s most dynamic and talented companies are choosing the UK’s business-friendly environment. This environment is underpinned by world-class regulation, capital that understands the African market, and exceptional talent as a springboard to scale globally.
Baxter mentioned that this was reinforced by commercial announcements made during President Bola Tinubu’s State Visit in March, which highlighted the depth of the UK-Nigeria fintech partnership and a shared ambition to translate innovation into concrete investment, growth, and mutually beneficial commercial outcomes.
He further elaborated on the United Kingdom-Nigeria Enhanced Trade and Investment Partnership (ETIP), which had strengthened cooperation between the governments of both countries and the private sector. NAN reports that ETIP was signed in early 2024, with Nigeria being one of the only two countries in the world to have such a partnership with the United Kingdom.
The ETIP identifies sectors of mutual interest where both countries’ comparative advantages complement each other, ranging from financial and professional services to education. According to Baxter, the arrangement is improving market access, strengthening regulatory dialogue, and creating opportunities for innovative firms to operate confidently across borders.
“For Nigerian fintechs, establishing operations in the UK allows them to demonstrate compliance at the highest level while accessing capital, talent, and global financial networks,” Baxter said. By combining Nigerian innovation with UK regulatory assurance and global market access, fintechs are delivering safer payment platforms, new credit and savings products, and more efficient cross-border services, particularly benefiting small and medium enterprises.