Vehicle financing company Moove has announced it will shut down its operations in Nigeria, six years after being founded in Lagos, and will hand full ownership of vehicles worth more than ₦35 billion to the drivers currently operating them, free of charge.

The company framed the exit as a farewell built on gratitude, saying the shutdown comes with deep appreciation for the customers, team members, partners and communities that gave it its start.

Ladi Delano, Co-Founder, Co-CEO and Advisory Board Chairman of Moove, described the shutdown notice as, in effect, a thank-you note to 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.

Under the wind-down, drivers receiving vehicles will own their cars outright, with no further payment Moove required from October 1, 2026. The transfer moves those drivers from operating Moove-financed vehicles to holding outright title — the ownership endpoint of the Drive-to-Own pathway the company built its model around. The company will also reward all staff members with a free car in appreciation of their service.

Exit follows Uber's departure

Moove's withdrawal comes a little more than a month after Uber, its major investor and operational partner, announced its own exit from the Nigerian market. With Moove's Nigerian operations concluding, the Drive-to-Own and rental products it offered in the country will no longer be available to local mobility entrepreneurs.

Moove 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 launched 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 was built in Lagos became the foundation for a business that today operates 42,000 vehicles across 29 cities globally. Since its inception, Moove has served more than 9,000 customers through its Drive-to-Own and rental products, helping them generate approximately ₦57 billion in revenue and supporting livelihoods, families and businesses across Nigeria.

'Thank You Nigeria'

The vehicle transfer forms part of Moove's "Thank You Nigeria" initiative, which the company describes as a way of recognising the customers, employees and wider community whose trust, skill and support shaped the business from its earliest days. Eligible vehicles with an estimated total value of approximately ₦35 billion will pass into the full ownership of the customers who currently operate them, with no payment to Moove required for the vehicles themselves.

The company noted that more than 9,000 customers have used its Drive-to-Own and rental products in Nigeria, generating approximately ₦57 billion in revenue through Moove-financed vehicles. Those numbers matter, it said, 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.

Moove also thanked its Nigerian team, noting that their commitment, resourcefulness and belief in the mission carried the company through its earliest and most important years, turning an idea that began in Lagos into a business now operating across 29 cities globally. It extended separate thanks to its customers for partnering with the company and realising their collective ambitions, as well as to its partners, regulators and the wider community for supporting a young Nigerian company as it grew 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. Ownership of the transferred vehicles takes effect from October 1, 2026, while the company's international operations continue across 29 cities.