Monzo enters Nigeria remittance corridor via Wise partnership
UK digital bank Monzo has launched remittance transfers to Nigeria through a partnership with Wise, entering one of Africa's highest-volume diaspora corridors. The move increases competitive pressure on existing operators including earlier entrants such as SendOva in the UK-Nigeria remittance market.
Monzo, a larger and more prominent UK incumbent than SendOva, has now entered the same UK-Nigeria remittance corridor, materially intensifying competitive pressure.
Story timeline · 3 days
- Jul 1, 20267Muva Networks secures Nigerian IMTO remittance licence after $200M processed
A new regulated remittance entrant, Muva Networks, has secured an IMTO licence, increasing competitive pressure in the Nigeria corridor alongside Monzo and others.
- Jun 24, 20267· this storyMonzo enters Nigeria remittance corridor via Wise partnership
Monzo, a larger and more prominent UK incumbent than SendOva, has now entered the same UK-Nigeria remittance corridor, materially intensifying competitive pressure.
- Jun 18, 20264SendOva targets UK-Nigeria remittance corridor with fee-free transfers
Sources · 1
- Popular UK bank, Monzo launches remittance to Nigeriathecondia.com · T2