The Lagos founded mobility company says its exit package covers vehicles valued at about N35 billion and includes a separate benefit for employees.
Mobility financing company Moove has announced plans to discontinue its Nigerian operations and transfer ownership of qualifying vehicles to eligible customers, six years after beginning business in Lagos.
The company valued the vehicles covered by the proposed transfer at approximately N35 billion and said eligible drivers would not be required to make further payments for the cars from October 1, 2026. It also announced plans to give a vehicle to each employee as part of its exit arrangements.
Moove did not provide a specific commercial explanation for leaving Nigeria. Its cofounder and cochief executive, Ladi Delano, said the package was intended to acknowledge the customers and workers who helped establish the company.
Founded in 2020 by Delano and Jide Odunsi, Moove developed financing and rental products for people who wanted to work in mobility services but lacked access to conventional vehicle loans. It began with 76 cars in Lagos before expanding internationally.
The company said more than 9,000 customers had used its Nigerian products and that vehicles on its platform had generated about N57 billion in revenue. Its global operations now cover approximately 42,000 vehicles in 29 cities, according to the figures supplied.
The Nigerian withdrawal follows a reported $250 million funding round that valued Moove at $2.1 billion, as well as a separate announcement concerning Uber’s exit from the country. The company said it would contact affected drivers and staff directly about eligibility and transfer procedures.
Customers will need to rely on Moove’s formal communication for the precise conditions of ownership transfer, since the announcement does not establish that every person who has used the service qualifies automatically.
