LemFi, the global financial platform co-founded by Nigerian entrepreneur Ridwan Olalere, has committed £100 million to the United Kingdom over the next five years, marking a significant milestone in its journey from local startup to global fintech platform.
The announcement follows the historic UK–Nigeria State Visit in March 2026, where LemFi co-founders Ridwan Olalere and Rian Cochran were recognised for their contributions to the global diaspora economy.
The investment forms part of the UK–Nigeria Enhanced Trade and Investment Partnership, as bilateral trade between both countries reaches a record £8.1 billion annually.
LemFi’s £100m commitment was made possible by the UK-Nigeria Department of Business and Trade, as part of the UK-Nigeria Enhanced Trade and Investment Partnership. LemFi will continue to innovate and develop innovative financial products and services for underserved communities globally.
Mark Smithson, Country Director for Nigeria and Regional Director for Anglo West Africa at the UK’s Department for Business and Trade (DBT), said:
“LemFi’s decision to designate London as its global headquarters, alongside a £100 million investment and job creation commitment over the next five years, is a strong vote of confidence in the UK’s fintech ecosystem and deepening of our economic partnership. It also underlines the UK’s position as a global home for high‑growth – supporting firms to scale responsibly, delivering safer and more accessible financial services for diaspora communities worldwide.”
Ridwan Olalere, Co-founder and CEO of LemFi, said: “Without the regulatory framework that helped us get started, LemFi may have continued to exist as an idea. While London gives us the capital market and global regulatory framework to help us achieve our mission, we will continue to innovate for the country and the continent at large, as with our Global Accounts product that provides Nigerians living in Nigeria with the ability to transact in the currencies of global commerce.”
Dr Bosun Tijani, Honourable Minister of Communications, Innovation & Digital Economy (FMCIDE), said: “LemFi’s continued expansion and global positioning reflect the resilience and ambition of the Nigerian spirit. We are proud to see a company with deep Nigerian roots scale internationally while addressing critical financial inclusion challenges. As a government, we remain committed to creating an enabling environment that supports innovation and empowers companies like LemFi to take bold strides on the global stage.”
This global expansion is supported by the Central Bank of Nigeria’s (CBN) robust regulatory framework, under which it operates as a licensed International Money Transfer Operator (IMTO).
By maintaining high standards of compliance with the Central Bank of Nigeria and aligning with the broader economic vision of the Nigerian Presidency, LemFi continues to prove that Nigerian-born innovation is a defining force in the global fintech industry.
