Monzo, a British digital bank, has expanded its services to the UK-Nigeria corridor, thereby allowing users to send funds directly from the Monzo app to Naira bank accounts.
The move is part of a growing trend of international tech companies targeting Africa’s fintech market by capitalising on a robust UK-Nigeria remittance corridor worth over £7 billion.
The global fintech strategy involves international players seeking opportunities in Nigeria’s large consumer base, expanding digital payments sector, and demand for accessible financial services.
Nigeria has become one of Africa’s most competitive fintech markets, attracting both local innovators and international investors.
Monzo, known for its mobile-first banking model, has grown into one of the United Kingdom’s leading digital banks, serving millions of customers through app-based financial services.
The company’s renewed interest in international growth comes as it focuses on expanding its reach and strengthening its position in key markets.
Nigeria’s fintech sector has experienced
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