The British Deputy High Commissioner in Lagos, Mr. Jonny Baxter, paid a working visit to the UK office of Moniepoint Inc., one of Africa’s leading fintech powerhouses. The visit signals the strengthening of UK-Nigeria trade relations, with both nations looking to deepen bilateral ties in key sectors such as financial services, energy, and infrastructure.
The high-level meeting emphasized the value of cross-border partnerships in driving inclusive economic growth and innovation. Discussions centered on enhancing trade and investment flows between Nigeria and the UK, highlighting the importance of fintech in fostering global connectivity and financial inclusion.
Mr. Baxter hailed trade as a pillar of UK-Nigeria relations, stating that it plays a vital role in generating prosperity and stimulating innovation. He spotlighted British International Investment (BII)’s stake in Moniepoint as a model of impactful investment—one that expands access to finance for Africa’s small businesses and promotes economic resilience.
“Moniepoint’s rise as a global fintech leader exemplifies how bilateral cooperation can fuel progress. This visit reaffirms our commitment to working closely with Nigerian businesses and creating opportunities for shared growth,” Baxter remarked.
Tosin Eniolorunda, Founder and Group CEO of Moniepoint, lauded the UK government and the Department for Business and Trade (DBT) for fostering an enabling environment for Nigerian ventures. He emphasized Moniepoint’s role in redefining the nature of bilateral engagement—not just through capital flows, but by creating meaningful, two-way economic partnerships.
“Trade and investment are more than diplomatic tools; they are bridges to transformation. At Moniepoint, we are committed to powering the dreams of millions through technology. Every move we make is a step toward shared prosperity,” Eniolorunda said.
He also underscored the Enhanced Trade and Investment Partnership (ETIP) between both countries as a critical framework for unlocking regulatory harmonization, market access, and collaboration in high-impact sectors like digital finance and cybersecurity.
Moniepoint, with its footprint across Africa, operates a full-scale financial ecosystem supporting over 10 million businesses and individuals. As Nigeria’s largest merchant acquirer, Moniepoint processes over 1 billion POS transactions monthly, representing a total payment volume exceeding $22 billion. Its success has been recognized globally, with Moniepoint named Africa’s fastest-growing financial institution for two consecutive years.
During the visit, Moniepoint also unveiled plans to launch new remittance solutions tailored for the Nigerian diaspora in the UK. These offerings aim to streamline money transfers, tapping into Moniepoint’s reputation for speed, transparency, and trust.
Present at the meeting were Felix Ike, Co-Founder and Chief Technology Officer; Ross Strike, SVP of M&A & Investor Relations; and Ravi Jakhodia, CEO of Moniepoint UK. Representing the UK government was Hugh de Lusignan, Head of Financial Services at DBT, who praised Moniepoint as a clear example of Nigeria’s fintech leadership on the global stage.
As both countries look ahead, the visit marks a renewed commitment to deeper economic ties, with innovation, fintech, and entrepreneurship at the heart of a future-focused UK-Nigeria relationship.
