₦airaland Forum

Exclusive: Why Moove is exiting Nigeria after building 42,000-vehicle global fleet – Co-founder

Moove is quitting Nigeria because the loss of Uber, the principal platform behind its Nigerian model, left the business unable

Wasiu Alli, Chinwe Michael & Juliet Onyema

October 8, 2026

Moove is quitting Nigeria because the loss of Uber, the principal platform behind its Nigerian model, left the business unable to sustain its operations in the market, Ladi Delano, the company’s co-founder and co-CEO, said

Delano described Uber as the platform that supported Moove’s Nigerian model at scale, and said its departure materially changed the operating environment in Nigeria. Moove assessed the alternatives and the economics of continuing and concluded it could not sustain its Nigerian operating model.

To manage the exit, Moove is bringing forward vehicle ownership through its Thank You Nigeria initiative. Remaining scheduled vehicle payments from October 1, 2026 are waived for eligible mobility entrepreneurs, and ownership of the vehicles transfers to them.

In this exclusive interview, Delano discusses how the company intends to achieve this initiative as BusinessDay’s Wasiu Alli, Chinwe Michael & Juliet Onyema bring excerpts.

Moove has announced that it will conclude its operations in Nigeria. What led to this decision?

This is an emotional moment for Jide and me. Nigeria gave Moove its beginning, and we will always be grateful for that.

We started with 76 vehicles in Lagos and a belief that hardworking Nigerian mobility entrepreneurs deserved access to the vehicles and finance they needed to build their businesses. Our earliest mobility entrepreneurs trusted us when we were still finding our feet. Our Nigerian colleagues helped us turn that trust into a business that could grow internationally. Thanks to this, we have now successfully scaled our business to over 42,000 cars across 29 global cities and are now one of the largest ride-hail fleets in the world, and for this we are extremely thankful.

Unfortunately, Uber’s departure materially changed the operating environment in Nigeria. We assessed the alternatives and the economics of continuing, and concluded that we could not sustain our Nigerian operating model. That was our decision, and we take responsibility for it.

What matters deeply to us now is how we manage this transition. Through Thank You Nigeria, we are bringing forward vehicle ownership for all eligible customers, subject to settling outstanding remittances up until Oct 1st 2026 and completing the transfer process. We want those vehicles to continue supporting livelihoods and families long after this chapter of Moove’s operations concludes.

How did Uber’s departure affect Moove’s operations in Nigeria?

Uber was the principal platform supporting our Nigerian model at scale, so its departure had a significant effect on the business.

However, after reviewing all available options to us, we concluded that we could not continue to operate in Nigeria. We understand the disappointment this creates, especially among our thousands of customers and colleagues who have been part of our Nigerian journey.

What does Moove’s exit mean for mobility entrepreneurs who obtained vehicles through Moove?

As we conclude our operations, we are introducing the Thank You Nigeria initiative, through which we will transfer ownership “free of charge” to all eligible customers who operate them.

This is deeply personal for Jide and me. Our customers trusted us, worked hard and helped build Moove from its earliest days in Lagos into a global business. We want to recognise that contribution by bringing forward their opportunity to own their vehicles and continue building their livelihoods at no cost.

Thank You Nigeria is our way of expressing that gratitude through something meaningful and lasting. Our hope is that these vehicles will continue supporting our mobility entrepreneurs and their families well into the future, after our market departure.

What happens to existing financing arrangements and repayment obligations?

Under the Thank You Nigeria initiative, the remaining scheduled vehicle payments to Moove from October 1st 2026 are being waived for eligible mobility entrepreneurs. Outstanding remittances accrued before that date must still be settled, and the ownership transfer documentation completed.

Our team will explain each individual arrangement and guide our customers through the process.

The intention is to bring forward ownership and recognise the contribution our customers have made to Moove. They have invested their effort, earnings and trust in this journey, and we want to say thank you in a way that continues to benefit them and their families.

How are you supporting mobility entrepreneurs and employees through the transition?

Our team will work directly with eligible customers to explain their account position, complete the necessary documentation and guide them through taking ownership of their vehicles.

The Thank You Nigeria initiative will also extend to our team members, who will be granted vehicles free of charge in appreciation of their service and contribution to Moove.

Our Nigerian colleagues helped turn an ambition that began in Lagos into a global business. They gave their time, skill and dedication to building Moove, including through some very demanding periods. Jide and I are deeply grateful for that.

Granting these vehicles is a practical expression of our thanks. We want our colleagues to know that their service is valued and that they will always have a place in the story of what we built together.

What has your experience taught you about financing mobility entrepreneurs in a platform-dependent market?

It has reinforced our belief in the ability and determination of Nigerian mobility entrepreneurs.

Since launching, we have served more than 9,000 mobility entrepreneurs across our Drive-to-Own and rental products. Moove-financed vehicles have helped them generate approximately ₦57 billion in revenue. That revenue reflects their work on the road, their commitment and the businesses they have built around those vehicles.

We also learned that access to finance is one part of the equation. Demand, fares, fuel, maintenance and repayments all affect what a mobility entrepreneur takes home.

The model must work for the mobility entrepreneur and remain sustainable for the businesses supporting them. Our experience in Nigeria has made us more attentive to that balance.

How does Nigeria’s mobility ecosystem need to evolve to create more sustainable opportunities?

We should begin with the ambitions of the mobility entrepreneur: earning a decent living, building a business and creating greater security for their family.

Nigeria has enormous entrepreneurial energy. We saw it every day through our customers and colleagues who built Moove with us. The opportunity is to make it easier for that effort to translate into lasting progress.

Affordable finance, dependable maintenance and platform economics that support sustainable earnings all matter. So does choice: access to several platforms gives mobility entrepreneurs more ways to reach customers and adapt when circumstances change.

Our experience has taught us to listen closely to mobility entrepreneurs. They understand the daily realities of this industry, and their experience should help shape the solutions.

What has Moove learned from Nigeria, and how will those lessons inform its approach elsewhere?

Nigeria taught us how to build Moove.

We learned to recognise the earning potential of mobility entrepreneurs who struggled to access conventional finance. We learned how to maintain vehicles, manage fleets and respond to the practical challenges of operating every day.

Our Nigerian team brought ingenuity and determination to that work. The capabilities developed here helped us grow from 76 vehicles in Lagos into a business operating approximately 42,000 vehicles across 29 cities.

As Moove develops its role in autonomous mobility, those lessons remain valuable. Vehicles still need to be financed, maintained and operated reliably notwithstanding the absence of a human driver.

When we speak about Moove’s global progress, our Nigerian mobility entrepreneurs and colleagues deserve their place in that story. They helped build its foundations.

Where do you see the biggest opportunities for vehicle financing and mobility entrepreneurship across emerging markets?

There is still a substantial opportunity to help capable mobility entrepreneurs access productive vehicles and build sustainable businesses.

The financing needs to reflect what a mobility entrepreneur can realistically earn after operating expenses. There are also opportunities in maintenance, fleet management and the infrastructure that keeps vehicles productive.

Technology will develop differently across markets. Our responsibility as business builders is to understand those differences and invest in models that can work over time.

Nigeria has given us experience that we carry into those decisions. It has also strengthened our belief that, with access to the right tools and opportunities, mobility entrepreneurs can build businesses of lasting value.

What does Moove’s next chapter look like, and what does this decision mean for your commitment to Nigeria?

Moove’s next chapter includes expanding our role in autonomous mobility on a global scale, whilst continuing to grow our drive to own business in our current markets.

We are proud of how far the business has come. We are equally thankful to all our customers, colleagues and partners whose work made that progress possible.

For Jide and me, our commitment to Nigeria continues. Our other businesses remain committed to contributing to Nigeria’s economy and building businesses that create value here.

Our immediate responsibility at Moove is to complete this transition carefully and fulfil the commitments we are making to affected mobility entrepreneurs and colleagues.

To our customers, thank you for trusting us and building alongside us. To our Nigerian team, thank you for your dedication. To our partners and the wider community, thank you for giving a young business from Lagos the opportunity to grow into a global leader.

Nigeria helped make Moove possible. Wherever we go next, we will carry that gratitude with us. Thank you Nigeria.

https://businessday.ng/interview/article/exclusive-why-moove-is-exiting-nigeria-after-building-42000-vehicle-global-fleet-co-founder/?amp

What's the latest update on your findings and build?
God bless 🇳🇬

grandstar:
I am thinking of going into farming.

How much would it cost to build a mud fence for a 10,000 sqm of land which is a hectare of farm land

I am trying to cut costs. I will use cement to plaster the walls eventually. Using cement bricks for fencing would be too expensive.

the battery is likely drained and dead. You should always put your battery on trickle charge if you won't use it for long.
Find out if it's wet or dry cell; then if wet, check how to restore it (not recharging o!).
But that's hit or miss for most modern batteries,
God bless 🇳🇬

Edit:
Just saw it's lifepo4.
Try a trickle charger, it might revive it.
Or get a technician to open it up and check the various cells; one might be dead or there might be a short.
Stay blessed.

lovediehatelive:
Yes, it brings on light.

However the main way I check is through charge controller.

It doesn't bring light at all on the charge controller when immediately removed from NEPA light.

Still open.

DZTech:
- Note: This is NOT a job agency advert.

Accommodation provided.

PREFERRED CANDIDATE
Local resident preferred.
Note: It's essential you live in the BALI axis (Badore, Ado, Langbasa, Ilaje area).
MINIMUM 22 years of age.
MINIMUM SSCE (school leaver).
MINIMUM 1 year sales experience preferred.

BUSINESS DETAILS
A wholesale and retail foodstuff outlet, dealing in raw and frozen foodstuff, drinks and provisions sales.
Location- Remlek, Badore Ajah.

INTERVIEW
To apply, call the owner for an interview on –
090 7466 9033
• Interviews will be held immediately.
God bless 🇳🇬

Still open.

DZTech:
- Note: This is NOT a job agency advert.

Accommodation provided.

PREFERRED CANDIDATE
Local resident preferred.
Note: It's essential you live in the BALI axis (Badore, Ado, Langbasa, Ilaje area).
MINIMUM 22 years of age.
MINIMUM SSCE (school leaver).
MINIMUM 1 year sales experience preferred.

BUSINESS DETAILS
A wholesale and retail foodstuff outlet, dealing in raw and frozen foodstuff, drinks and provisions sales.
Location- Remlek, Badore Ajah.

INTERVIEW
To apply, call the owner for an interview on –
090 7466 9033
• Interviews will be held immediately.
God bless 🇳🇬

Still open.

DZTech:
- Note: This is NOT a job agency advert.

Accommodation provided.

PREFERRED CANDIDATE
Local resident preferred.
Note: It's essential you live in the BALI axis (Badore, Ado, Langbasa, Ilaje area).
MINIMUM 22 years of age.
MINIMUM SSCE (school leaver).
MINIMUM 1 year sales experience preferred.

BUSINESS DETAILS
A wholesale and retail foodstuff outlet, dealing in raw and frozen foodstuff, drinks and provisions sales.
Location- Remlek, Badore Ajah.

INTERVIEW
To apply, call the owner for an interview on –
090 7466 9033
• Interviews will be held immediately.
God bless 🇳🇬

If you know anyone who's interested, kindly send them the number to call.
Stay blessed.

I posted this advert on someone's behalf. If you've reached out, kindly give feedback of your discussion with the owner.
Stay blessed.

Vacancy still open.

Basic book-keeping and iCT training provided.

Vacancy still open.

Basic book-keeper training provided.

Vacancy still open.

ICT training provided.

- Note: This is NOT a job agency advert.

Accommodation provided.

PREFERRED CANDIDATE
Local resident preferred.
Note: It's essential you live in the BALI axis (Badore, Ado, Langbasa, Ilaje area).
MINIMUM 22 years of age.
MINIMUM SSCE (school leaver).
MINIMUM 1 year sales experience preferred.

BUSINESS DETAILS
A wholesale and retail foodstuff outlet, dealing in raw and frozen foodstuff, drinks and provisions sales.
Location- Remlek, Badore Ajah.

INTERVIEW
To apply, call the owner for an interview on –
090 7466 9033
• Interviews will be held immediately.
God bless 🇳🇬

Let's hope the victims can find solace in this news. 🙏🏾
But ALWAYS do your due diligence, before investing in any scheme. 🤌🏾
God bless 🇳🇬

As compiled by Google AI.

Fintoch, also known as DFintoch, was a cryptocurrency Ponzi scheme that executed an "exit scam" in May 2023, disappearing with over $31 million in investor funds. The company, which falsely claimed affiliation with Morgan Stanley and featured a fake CEO, promised unrealistic daily returns of 1% to attract investors.

Deceptive tactics
The creators of Fintoch used several deceptive methods to attract victims:
Fabricated leadership: The supposed CEO, "Bobby Lambert," was actually a paid actor named Mike Provenzano.
Fake partnership: Fintoch promoted a partnership with the reputable financial institution Morgan Stanley, a claim that Morgan Stanley publicly denied.
Inflated promises: The platform promised users a guaranteed daily return of 1% on their crypto deposits.
False technology: The company claimed to use an advanced and secure "HyBriid" technology to protect investments.

Collapse of the scheme
The Fintoch operation unraveled quickly in May 2023:
Regulatory warnings: The Monetary Authority of Singapore (MAS) and Morgan Stanley both issued warnings about Fintoch.

Withdrawals halted: On May 23, 2023, the platform suddenly halted withdrawals, telling investors a fraudulent story about migrating to a new blockchain.
Funds stolen: On-chain analyst ZachXBT exposed that the $31.6 million in user funds from the Binance Smart Chain had been moved to the Tron and Ethereum networks, indicating an exit scam.

Recent Developments
More than two years after the initial collapse, investigations have continued, leading to recent arrests.
On October 29, 2025, Thai authorities arrested one of Fintoch's Chinese co-founders, referred to as "Liang," in Bangkok on charges of illegal firearm possession and unlawful entry.
The arrest was part of an ongoing investigation by Chinese authorities, who allege that Liang and four accomplices ran the Fintoch fraud.
Authorities are now coordinating extradition proceedings to return the fugitive to China.

https://www.khaosodenglish.com/news/2025/10/29/chinese-crypto-fraud-fugitive-arrested-in-bangkok-luxury-home/#:~:text=The%20Alleged%20Scheme,Chinese%20counterparts%20for%20extradition%20proceedings.

Angelfrost:
If it was cheaper to do that, wouldn't the prices of eggs be lesser?!!

Maybe you should look up the current costs of

Poultry feeds
Supplements
Vaccines
Etc...


That's like saying one should start baking bread to mitigate the cost of fresh bread. Lol.

Same issues.

baking your bread is much cheaper than buying.
Just as eating in is much cheaper than eating out.
Same goes for poultry.
God bless 🇳🇬

khayce:
I have no much to say here . Kindly dm me on whatsapp and thank me later .no trading , no ponzi, no real estate, no agro investment, infact I won't ask you for ur money. Please drag me back here immediately should my suggestion be unrealistic or suspicious. I beg u ni pls do. Here is my whatsapp no. 0806 395 1701

why not share so other investors can join in?

ahamonyeka:
Go into microfinance there is a whole lot of money there.i can teach you how to go about it without losing.

how?

Still open.

Na so. Help me join your guy, make una fight govt for all suffering workers. Till then?
Still open.

TKVick:
Mhen I just tire, see suffering on top 50,000 wey no reach person use for one month

Juzec:
9am to 9pm?
Monday to Saturdays?
Omo you're literally taking their entire existence for 50k. This is wickedness

na so. 😏
Nigerians will complain about high prices and ALSO complain about low wages. 🤦🏾
Abeg help me drag TPain to improve the economy. I dey your back. 👍🏾
Concobility. 😄

JOB VACANCIES
- Note: This is NOT a job agency advert.

I need 2 Sales Girls or Boys.

APPLICANT CRITERIA
Note: You must live in the BALI axis (Badore, Ado, Langbasa, Ilaje area).
MINIMUM 25 years of age.
MINIMUM SSCE (school leaver).
MINIMUM 1 year sales experience preferred.

JOB DETAILS
Business- foodstuff, drinks, provisions sales.
Work hours- 9am-9pm, Mondays to Saturdays.
Wage- ₦50k monthly
Benefits- Full ICT training.
Location- Royal Palmwill Estate,
Badore, Ajah Lagos.

INTERVIEWS
Immediate and online, via WhatsApp.
Involves maths and English tests.

TO APPLY
DM your CV and Whatsapp number.
You will need TWO Guarantors.
God bless 🇳🇬

MurphyInc:
Send picture and price they are going for

for repairs?

StPete:
This is absolute rubbish. She did the right thing at the time. How do you propose to a lady when you just finished secondary school and had not found your feet? You were even still looking for admission and you thought your small business could cater for family needs at the time? U were not even mentally mature and even now it shows. u were infatuated with her and u mistook it for love and by now u would've also dumped her if she had tarried

Maybe you should find be out what age range our ancestors married at.
Or what the ideal age is today.
Most CEOs in developed nations married young, which is why they're captains of industry by 35-40 years.

Na d condition wey we dey for Africa is today, nahim make us tink sey we no suppose marry b4 30.
God bless 🇳🇬

Igemburg:
You can use uber Dispatch to ikeja

I'll have to find time to come down, cos dispatch is quite costly.
I go hala u when time reach 👍🏾

Samps:
Call 09047734606. He's at Ajah market. Fixed my Dell recently

ah, d guy no serious for with at all.
Maybe he only takes systems to the actual repair guys.

Positions still open. ✍🏾
Apply for an immediate online interview.
No fees involved.

Positions still open. ✍🏾
Apply for an immediate online interview.
No fees involved.