Moove, the [global mobility fintech founded in Lagos](https://en.wikipedia.org/wiki/Lagos), announced that it will end its Nigerian business and transfer full ownership of eligible vehicles – estimated at roughly N35 billion – to its customers at no cost, with the handover to begin on 1 October 2026.
**What is the scope of the transfer?**
The company clarified that all qualifying customers will receive the vehicles they have been using under its financing model without any further payments required after the October 2026 deadline. "The transfer of the vehicles means eligible customers will receive assets collectively valued at about N35 billion without making additional payments to the company," Moove said in its statement.
**When will the ownership change take effect?**
The handover is scheduled to start on 1 October 2026, giving customers a clear timeline to assume full title to their cars.
**Who founded Moove and what does it do?**
Moove was established six years ago by entrepreneurs Ladi Delano and Jide Odunsi. The firm built its reputation by offering vehicle financing and mobility solutions, especially to drivers operating on [ride‑hailing platforms](https://en.wikipedia.org/wiki/Ride_hailing). Over the years, it expanded its footprint across several markets, providing similar services beyond Nigeria.
**Why is Moove exiting now?**
The company indicated that the move is part of a broader plan to conclude its operations in the country while ensuring that customers retain the assets they have been financing. This decision follows the recent departure of another global mobility player, Uber, from the Nigerian market.
The exit marks a significant shift in the country's mobility financing landscape, affecting thousands of drivers who relied on Moove’s credit facilities to acquire their vehicles.