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Nigeria-UK Trade Ties Hit All-Time High
With the UK already home to a massive Nigerian diaspora, bilateral trade between the two countries reached an all-time of £8.1 billion in the year to September 2025 (an 11.4% year-on-year increase).
Against this backdrop, Nigerian banks, fintech companies and creative industry players are scaling up operations in the UK, positioning London and other major cities as strategic hubs for global expansion.
Banking Expansion Boosts Employment Opportunities
Hundreds of jobs are expected to be created across the UK with Nigerian financial institutions investing millions in the UK economy. Zenith Bank opened a new Manchester branch on Tuesday 17 March, which is expected to create up to 30 new direct jobs while boosting the North West’s economy and strengthening UK-Africa business links.Adaora Umeoji, group managing director and CEO of Zenith Bank described the UK as a “key global financial centre”. The opening of the bank’s new Manchester branch, he said, “marks an important milestone in our international expansion strategy.” As well as deepening customer relationships it will “connect businesses between Africa and the UK more effectively.”
The move is timely as Zenith Bank, one of Nigeria’s largest financial institutions, is also exploring a potential listing on the London Stock Exchange in 2027.
Seven Nigerian banks currently operate in the UK, supporting around 1000 jobs. This figure is set to rise with Fidbank doubling its 62-person workforce in the coming months and FCMB planning to launch its digital cross border payments platform in the UK, to further facilitate trade international trade flows.
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