Hundreds of new jobs are set to be created across the UK as a wave of Nigerian banks, fintech companies and creative industry businesses expand their operations in Britain, bringing millions of pounds of new investment into the economy.

The announcements come ahead of a historic state visit by Bola Ahmed Tinubu and First Lady Oluremi Tinubu (pictured), which is expected to further strengthen economic ties between the two countries. The investments underline the growing importance of the UK as a hub for African business while highlighting Nigeria’s expanding role as a source of innovation, entrepreneurship and capital.

Several Nigerian financial institutions are significantly expanding their UK presence, with the banking sector expected to be a major driver of new employment. Zenith Bank has opened a new branch in Manchester, creating up to 30 direct jobs and providing a boost to the North West economy. The bank is also exploring a potential listing on the London Stock Exchange in 2027 as it seeks to deepen its presence in British financial markets and strengthen investment flows between the UK and Africa.

Other Nigerian financial institutions are also increasing their footprint in Britain. Fidelity Bank plans to double its UK workforce from 62 employees during 2026 while expanding its capital base. The broader Fidelity Group is also positioning London as its global operational hub. Meanwhile First City Monument Bank has chosen the UK as the first international launch market for its new digital cross-border payments platform, designed to streamline trade and financial transfers between Africa and global markets.

In total, seven Nigerian banks now operate in the UK, collectively supporting around 1,000 jobs while strengthening financial links between the two economies.

Alongside traditional banking, Nigeria’s rapidly growing fintech sector is investing heavily in the UK as a base for global expansion. LemFi has announced plans to invest £100 million over the next five years after designating London as its global headquarters. The investment will support product development, technology infrastructure and the expansion of its international workforce.

Digital banking platform Moniepoint is also expanding its London operations, with plans to grow its UK-based team to around 100 employees in 2026 as it builds infrastructure supporting millions of users across Africa. Similarly, Kuda Bank is strengthening its UK headquarters as the centre of its international expansion strategy and expects to significantly increase its staff numbers in Britain over the coming year.

Government ministers say the wave of investment reflects the strength of the UK–Nigeria economic partnership and Britain’s continued attractiveness as a destination for global businesses. Peter Kyle said the growing links between the two countries demonstrated the power of collaboration between their business communities.

“The UK and Nigeria share a belief in the power of enterprise, innovation and education to transform lives,” he said. “Today’s commitments show exactly that. With Nigerian firms creating jobs across the UK and British businesses expanding into one of the world’s fastest-growing markets, our partnership is strengthening both economies.”

David Lammy added that the partnership between the two countries was delivering new opportunities for businesses and innovators on both sides of the relationship.

“The UK and Nigeria’s strategic partnership is bringing momentum and opportunity to innovators in both our countries,” he said. “We are reducing barriers, creating jobs and opening new pathways for growth.”

The investments are being supported through the UK–Nigeria Enhanced Trade and Investment Partnership, which focuses on expanding cooperation across financial services, technology, infrastructure and education.

The creative industries are also playing a growing role in the strengthening relationship between the two countries. EbonyLife will launch EbonyLife Place London, a new cultural and entertainment venue expected to create around 40 jobs and showcase African creative talent in the UK.

The partnership between the countries’ creative sectors is expected to deepen further through initiatives such as a UK–Nigeria advertising summit and talent exchange programme, as well as a planned UK/Nigeria Season of Culture in 2028 organised in collaboration with the British Council.

British companies are also expanding into Nigeria as part of the strengthening economic relationship. Twinings Ovaltine has opened a £24 million manufacturing facility in Lagos, its first production site in Africa, which will create more than 100 jobs and expand exports across West Africa.

Meanwhile the fintech company Wise is expected to receive regulatory approval for its first licence in Nigeria, allowing it to expand into the country’s fast-growing remittance market.

Educational partnerships are also increasing, with leading UK universities deepening collaboration with Nigerian institutions. The University of Birmingham and the University of Lagos have signed an agreement to develop programmes in applied artificial intelligence, digital communications and global surgery. The London School of Economics has launched a new data science partnership with Nile University of Nigeria, while the University of the West of England has opened a dedicated office in Lagos.

Further collaboration in education will come with the opening of Wellington College International in Lagos in 2027, which will provide places for around 1,500 students and become one of West Africa’s flagship British curriculum schools.

Officials say the breadth of the investments, spanning finance, technology, creative industries and education, highlights the deepening commercial relationship between the UK and Nigeria. As global economic uncertainty grows, policymakers hope that strengthening partnerships with fast-growing markets such as Nigeria will help drive long-term investment, innovation and job creation across the British economy.

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

The disappearance of Nancy Guthrie, the 84-year-old mother of NBC’s “Today” show co-anchor Savannah Guthrie, has captivated national attention since she vanished from her home in the affluent Catalina Foothills neighborhood near Tucson, Arizona, in early February 2026.

Nancy Guthrie (née Long) was last seen on the evening of Saturday, Jan. 31, 2026. Family members reported she arrived at her daughter Annie’s home around 5:32 p.m. for dinner and games, then was dropped off at her own residence at approximately 9:48 p.m. She was reported missing the following day, Sunday, Feb. 1, after failing to attend church—a regular routine for the devout woman.

Authorities with the Pima County Sheriff’s Department quickly classified the case as an abduction. Evidence at the scene indicated she was taken against her will. Blood identified as hers was found on the porch, and her pacemaker’s connection to her phone disconnected around 2:28 a.m. on Feb. 1. At 1:47 a.m., a doorbell camera at her home was tampered with and removed.

The FBI joined the investigation early, releasing footage from a Nest doorbell camera showing a masked individual at her doorstep on the night of her disappearance. Investigators later recovered additional images and are analyzing them for clues. The suspect appears to have visited the home prior to the abduction night, according to sources.

Pima County Sheriff Chris Nanos has described the case as targeted, stating investigators have a theory on the motive but are not 100% certain. He warned the public that the suspect “could absolutely” strike again, urging vigilance. Officials have not ruled out multiple perpetrators.

The Guthrie family, including Savannah, Annie, and brother Camron, has been publicly cleared as suspects. Early speculation and false accusations, including regarding a brother-in-law, angered the family, with Savannah reportedly “livid” over the claims.

The family has offered a reward of up to $1 million for information leading to Nancy’s recovery, aligned with FBI criteria. Savannah Guthrie posted emotional appeals on social media, saying, “Someone knows how to find our mom and bring her home,” and urging tips to 1-800-CALL-FBI anonymously. She described her mother as being “taken in the dark of night from her bed.”

Early reports mentioned possible ransom demands, including a $6 million note with threats, but no confirmed payments or resolutions have surfaced. Investigators examined such notes but have released limited details.

As of mid-March 2026, marking over 44 days since her disappearance, no suspect has been publicly named or arrested. The FBI recovered more camera images recently, which are under review. Use of cadaver dogs has been paused, and searches continue, though no major breakthroughs have been announced.

The case stands out due to Nancy Guthrie’s age—abductions of people in their 80s are rare—and the high-profile nature of her daughter, drawing international coverage. Experts note parallels to other missing persons cases involving uncertainty and prolonged grief, but highlight unique elements like the celebrity connection and forensic challenges, including mixed foreign DNA samples.

Investigators have explored genetic genealogy and other advanced techniques. A neighbor reported seeing a suspicious person near the area around mid-February, and theories involving signal jammers or prior surveillance have circulated, though unconfirmed.

The family continues pleading for tips, emphasizing Nancy’s health vulnerabilities—she required medications—and the emotional toll. Savannah Guthrie has shared family videos and messages, underscoring hope amid heartbreak.

Law enforcement urges anyone with information to contact the Pima County Sheriff’s Department at 520-351-4900 or the FBI. As the seventh week begins, the search persists for the grandmother of three, with her whereabouts and condition still unknown.

Earnings Growth and Market Multiples

“Very difficult to take a call on the longevity of this uncertainty. The Iran situation may settle in 15–20 days, but a quarter of impact will already be reflected in earnings,” Kant said in an interview to ET Now. He noted that earlier expectations of 12–13% earnings growth for FY27 have now been revised down to 9–10%, reflecting the market’s adjustment to global events.

Despite this, Kant believes the Nifty index, currently trading around a 19x FY27 multiple, presents a “comfortable zone to start investing.” He emphasized a staggered buying strategy, suggesting investors allocate no more than 20–25% of their cash into carefully chosen sectors.

Selective Stock Picks
Kant highlighted several sectors and companies that appear attractive in the current environment. “Defence stocks have corrected, so HAL and BEL remain top picks,” he said. Midcap companies are also drawing attention, with Power Mech Projects Limited now available at around 12x one-year forward earnings, supported by a strong order book exceeding ₹39,000 crore.

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Other picks include Welspun Corporation, operating in pipes both in India and the U.S., which has corrected to 11–12x one-year forward earnings. In the automobile space, Mahindra & Mahindra has fallen below 20x one-year forward PE, despite growth above 20%, making it a potential bargain.
Kant summarized, “This year will be a stock-picker’s market, focused on defence, metals, and automobiles. Banking and NBFCs, however, remain areas of caution due to potential asset quality stress and rising cost of funds.”
Strategy for Investors
Experts recommend maintaining a well-researched shopping list and adopting a staggered investment approach. “Even if the market moves over the next three to six months, selective investing is key,” Kant advised. With multiple triggers—including elections, monsoon uncertainty, and geopolitical developments—investors are encouraged to focus on quality stocks rather than sectoral trends alone.
While valuations have corrected, caution remains paramount. A selective, patient, and bottom-up strategy may help investors navigate the volatility while identifying long-term opportunities.

The eSafety commissioner has warned Elon Musk’s X about the availability and accessibility of child abuse material on the platform.

It can be recalled the X’s Grok came under fire earlier this year for generating illegal deepfake images that have sexually depicted women and children.

eSafety Says Child Abuse Material is ‘Particularly Systemic’ on X

The revelations were made in a letter that Guardian Australia was able to obtain under freedom of information laws.

In the letter, eSafety’s general manager of regulatory operations, Heidi Snell, said that “the availability of CSEM [child sexual exploitation material] continues to appear particularly systemic on X”.

“eSafety has not identified CSEM to be as readily accessible on any other mainstream service,” Snell added.

While the letter acknowledges X’s efforts to reduce the number of such material on the platform, Snell said that they were still rather prevalent as seen in hashtags advertising CSEM.

“We are concerned that apparently innocuous hashtags appear to be coopted to advertise CSEM, particularly when used together,” Snell said.

The Guardian notes in its report that it was unable to retrieve X’s response to eSafety’s letter.

Grok’s Deepfake Scandal

It can be recalled that X was embroiled in a scandal back in January when Grok began to generate sexualised content.

At that time, eSafety released a statement, saying that it “remains concerned about the use of the generative AI system Grok on X to generate content that may sexualise or exploit people, particularly children.”

While eSafety acknowledged that it was only getting a small number of reports on the issue, it already wrote to X regarding the matter.

“Additional mandatory codes will commence on 9 March 2026, which create new obligations for AI services, among others, to limit children’s access to sexually explicit content, as well as violent material and themes related to self-harm and suicide,” eSafety added in its statement.

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