Moove exits Nigeria, gives customers N35 billion worth of vehicles

In a statement shared with Nairametrics on Thursday, the company said the transfer of vehicles and staff rewards were intended to recognise the contributions of customers and employees.

“As Moove concludes its Nigerian operations, eligible vehicles with an estimated total value of approximately N35 billion will pass into full ownership of the customers who currently operate them, with no payment to Moove required for the vehicles themselves from October 1, 2026,” the company said.

“Moove will also reward all staff members with a free car as a sign of appreciation.”

Moove co-founder, co-chief executive officer and advisory board chairman Ladi Delano said the decision reflected the importance of Nigeria to the company’s history and development.

“Nigeria is where Moove began, and everything we have built since carries something of Lagos with it,” Mr Delano said.

He said the company’s earliest customers had placed their trust in Moove when it was still an idea, helping establish the foundation for its expansion into international markets.

According to Mr Delano, more than 9,000 customers had used Moove’s Drive to Own and rental products in Nigeria, with vehicles financed through the company helping generate approximately N57 billion in revenue.

The company’s exit marks the end of its six-year presence in the Nigerian market, where it built its business around providing vehicle financing solutions to mobility entrepreneurs and drivers.

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