Moove, the Uber-backed mobility and vehicle-financing company, is set to end its operations in Nigeria, marking its exit from the market where the company was founded.

News filtered in yesterday showing that the company said eligible vehicles valued at about ₦35 billion ($26.3 million) would be transferred into the full ownership of customers currently operating them, with no further payment required to Moove for the vehicles.

The exit comes barely a month after Uber announced its withdrawal from Nigeria after 12 years of operations. A visit to the Maryland, Lagos, last week showed that the showroom has been locked since the shut down of Uber in September.

Moove, which has provided vehicle financing to drivers on ride-hailing platforms, said the ownership transfer was part of its efforts to support customers as it winds down its Nigerian operations.

The company also said it would reward all its staff members with a free car, although it did not disclose the total number of employees eligible for the benefit.

According to Moove, more than 9,000 customers have used its Drive-to-Own and rental products in Nigeria, generating approximately ₦57 billion in revenue through vehicles financed by the company.

Ladi Delano, Moove’s co-founder, co-CEO and chairman of its advisory board, said the figures reflected the livelihoods built around the company’s operations.

“More than 9,000 customers have used our Drive-to-Own and rental products in Nigeria. Their work generated approximately ₦57 billion in revenue through Moove-financed vehicles,” Delano said.

He added that the figures represented people earning incomes, supporting their families and building their futures.
Moove said it now operates about 42,000 vehicles across 29 cities globally, as it shifts its focus to other markets following its departure from Nigeria.

The company’s exit further reshapes Nigeria’s app-based mobility sector, coming shortly after Uber’s withdrawal and amid growing competition among operators such as Bolt and inDrive.

For Nigerian drivers who relied on Moove’s financing model to access vehicles for commercial operations, however, the transfer of eligible vehicles into their ownership could provide some relief as the company winds down its local business.