Vehicle financing company Moove has announced that it will shut down its operations in Nigeria, six years after it was founded in Lagos. The company says its shutdown comes with deep gratitud
Vehicle financing company Moove has announced that it will shut down its operations in Nigeria, six years after it was founded in Lagos. The company says its shutdown comes with deep gratitude to the customers, team members, partners and communities who gave it its start.
Read also: Uber exit: Moove drivers demand daily remittance reduction from ₦18,700 to ₦12,000
Speaking about the development, Ladi Delano, Co-Founder, Co-CEO and Advisory Board Chairman of Moove, said the shutdown notice is only a thank you note to its customers and staff.
“Nigeria is where Moove began, and everything we have built since carries something of Lagos with it. Jide and I started the company because talented, hardworking mobility entrepreneurs wanted the opportunity to earn, but could not get access to the vehicles and finance they needed. Our first customers trusted us when Moove was still an idea, and that trust made everything that followed possible and for that we thank you,” he said.
The Co-CEO also said the company will transfer full ownership of vehicles worth over ₦35 billion to current drivers, free of charge, as a thank you for their trust and support. Drivers receiving these vehicles will own their cars outright, with no further payment required from 1st October 2026.
Moove’s exit comes a little more than a month after major investor and operational partner, Uber, announced its exit from the Nigerian market. The company was founded in 2020 by Ladi Delano and Jide Odunsi after they saw that many gig workers in Nigeria wanted to earn through mobility but could not access the vehicle financing they needed.
The company began with 76 vehicles in Lagos and developed its Rental & Drive-to-Own model to give mobility entrepreneurs access to new vehicles and a pathway to ownership. What it built in Lagos became the foundation for a business that today operates 42,000 vehicles across 29 cities globally. Since its inception, the company has served more than 9,000 customers across both its Drive-to-Own and rental products, helping customers generate approximately ₦57 billion in revenue, supporting livelihoods, families and businesses across Nigeria.
As Moove concludes its Nigerian operations, eligible vehicles with an estimated total value of approximately ₦35 billion will pass into full ownership of the customers who currently operate them, with no payment to Moove required for the vehicles themselves from 1st October 2026. Moove will also reward all staff members with a Free Car as a sign of appreciation.
The ‘Thank You Nigeria’ initiative is Moove’s way of recognising the customers, employees and wider community whose trust, skill and support shaped the company from its earliest days.
The company said more than 9,000 customers have used our Drive-to-Own and rental products in Nigeria. Their work generated approximately ₦57 billion in revenue through Moove-financed vehicles. Those numbers matter because they represent people earning, supporting their families and building their own futures.
“This is an emotional moment for us. Nigeria gave Moove its beginning, its first customers and many of the people who built the foundations of our company. As we conclude our operations, we want our actions to reflect our gratitude. Eligible vehicles worth approximately ₦35 billion will pass into full ownership of the customers who operate them, with no further payment to Moove required for the vehicles themselves,” the company said.
The company further thanked its Nigerian team, noting that their commitment, resourcefulness and belief in the mission carried it through its earliest and most important years. They turned an idea that began in Lagos into a company that now operates across 29 cities globally.
The company also thanked its customers for partnering with it and realising their collective ambitions. It also thanked its partners, regulators and the wider community for supporting a young Nigerian company and helping it grow into a global business.
“Nigeria will always be where Moove started. As we continue to grow internationally, we will do everything we can to make Nigeria proud and to build a lasting global success story that never forgets where it began. Wherever Moove goes next, our story will always start in Lagos.”
Moove said it will work directly with affected customers and employees as it concludes its Nigerian operations and completes the transfer of eligible vehicles.
