MOOVE, the mobility company founded in Lagos, has announced plans to end its operations in Nigeria after six years, with the company transferring vehicles worth about N35 billion to eligible customers, including drivers currently using them.
The company announced the decision on Thursday, October 8, 2026, saying the transfer was part of its “Thank You Nigeria” initiative to appreciate customers, employees, partners and communities that supported its growth.
Under the arrangement, eligible customers currently operating Moove-financed vehicles will take full ownership of the vehicles, with no further payment to Moove required for the vehicles.
The transfer is effective from October 1, 2026, according to the company.
Moove said it would work directly with affected customers and employees as it winds down its Nigerian operations and completes the transfer of the eligible vehicles.
From 76 vehicles in Lagos to global mobility company
Moove was founded in Lagos in 2020 by Ladi Delano and Jide Odunsi after they reportedly identified the difficulty faced by mobility entrepreneurs in accessing vehicle financing.
The company was said to have started with 76 vehicles in Lagos and developed a Rental and Drive-to-Own model through which drivers and other mobility entrepreneurs could access vehicles and work towards ownership.
According to Moove, more than 9,000 customers have used its Drive-to-Own and rental products in Nigeria since its launch.
The company said the customers generated approximately N57 billion in revenue through Moove-financed vehicles.
Moove has since expanded beyond Nigeria and now operates 42,000 vehicles across 29 cities globally, according to its latest announcement.
Staff to receive free cars
As part of its exit arrangements, Moove said all its Nigerian staff members would also receive a free car.
The company described the vehicle transfers as part of its effort to recognise the people who helped build its Nigerian business.
Ladi Delano, Moove’s co-founder, co-CEO and advisory board chairman, said Nigeria remained the starting point of the company’s global story.
He thanked customers, employees, partners, regulators and the wider community for supporting the company from its early days.
“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”.
“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,” Delano said, according to the company’s statement.
Why is Moove leaving Nigeria?
Moove’s October 8 announcement did not state a specific reason for ending its Nigerian operations.
The development comes about a month after Uber ended its operations in Nigeria. Moove had a long-standing relationship with Uber as a vehicle financing and fleet-management partner for drivers.
In September, it was reported that Moove was considering leaving Nigeria following Uber’s departure. The report, citing a person familiar with the plans, said Uber’s exit had made Moove’s business in Nigeria difficult to sustain.
However, Moove’s latest announcement does not identify Uber’s exit, profitability concerns or any other specific factor as the reason for its decision.
Instead, the company framed the move around the conclusion of its Nigerian operations and the transfer of eligible vehicles to customers.
What happens to the vehicles?
Moove said eligible vehicles currently operated by customers will be transferred into their full ownership without further payment to the company for the vehicles.
The vehicles are estimated by Moove to be worth approximately N35 billion.
The company did not state in its announcement how many vehicles are covered by the transfer or provide a breakdown of their individual values.
It said it would engage directly with affected customers to complete the ownership transfer as it concludes its Nigerian operations.
Moove’s exit means the Nigerian business it started with 76 vehicles in Lagos in 2020 will cease operations after six years, while the company continues its international expansion.
The company said it now operates across 29 cities globally.
Mustapha Usman is an investigative journalist with the International Centre for Investigative Reporting. You can easily reach him via: musman@icirnigeria.com. He tweets @UsmanMustapha_M