Wise, the British fintech firm that has sent £600 million to Nigeria to date, has received conditional approval for its own licence to operate in the country.
This comes after a decade of starting, stopping, and restarting its services in Nigeria. In fact, on one occasion in December 2020, the Central Bank of Nigeria described it as unauthorised to operate.
The UK-Nigeria ETIP Breakthrough
In February 2024, while the Rt Hon Kemi Badenoch served as the UK’s Business and Trade Secretary, the UK signed the Enhanced Trade and Investment Partnership (ETIP) with Nigeria. This agreement aims to boost trade and investment and create new opportunities for businesses in both countries. At that time, trade between the UK and Nigeria was valued at £7 billion in the year to September 2023.
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Last updated: March 20, 2026
