Nigerian fintech company Moniepoint is winding down its UK-to-Nigeria remittance service, MonieWorld, less than two years after launching the platform.
MonieWorld was launched in April 2025 as Moniepoint’s first major expansion outside Africa, allowing customers in the United Kingdom to send money directly to Nigerian bank accounts.
The decision to phase out the service comes as Moniepoint redirects its resources towards its core markets in Africa. Reports say the UK remittance market proved highly competitive, with MonieWorld competing against established players offering fast transfers and competitive rates.
There are also reports that MonieWorld’s assets could be put up for sale, although this has not been publicly confirmed by Moniepoint.
MonieWorld’s shutdown marks a relatively quick retreat from a market Moniepoint had previously identified as an important part of its international expansion strategy.
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