Neobanks in Nigeria
These 14 are headquartered in Nigeria — parsed from the registered base of each company, so the count is complete. Availability is a different and much harder question: it is verified for 13 products in Nigeria so far, out of 368 tracked, so a neobank missing from the second table below has not been ruled out — it has not been checked. Corrections are welcome on GitHub.
The 14 based in Nigeria
| neobank | type | hq | custody | licence / structure | reported users |
|---|---|---|---|---|---|
| OPay | traditional | Lagos, NG | Custodial | Payment licences (NG) | 60M users (2024) |
| PalmPay | traditional | Lagos, NG | Custodial | Mobile money licence (NG) | 35M users (2025) |
| ALAT by Wema | traditional | Lagos, NG | Custodial | Bank (Wema Bank) | — |
| Bitnob | hybrid | Lagos, NG | Custodial | VASP applicant under Nigeria SEC's ARIP (approval-in-principle track); licensed partners for rails | — |
| Carbon | traditional | Lagos, NG | Custodial | Microfinance bank (NG) | — |
| Cleva | traditional | Lagos, NG | Custodial | MSB registration (FinCEN); USD accounts via licensed FDIC-insured US partner banks | — |
| FairMoney | traditional | Lagos, NG | Custodial | Microfinance bank (NG) | — |
| Grey | traditional | Lagos, NG | Custodial | MSB registrations (FinCEN US, FINTRAC Canada); accounts via licensed banking partners | — |
| Kuda | traditional | Lagos, NG | Custodial | Microfinance bank (NG) | — |
| Moniepoint | traditional | Lagos, NG | Custodial | MFB + switching licences (NG) | — |
| Nyla | traditional | Lagos, NG | Custodial | Partner banks — tech company, not a bank; launching in Ghana via a licensed commercial bank (Islamic window) | — |
| Onboard | web3-native | Lagos, NG | Self-custodial | Self-custodial software | — |
| Sparkle | traditional | Lagos, NG | Custodial | Microfinance bank (NG) | — |
| Yellow Card | hybrid | Lagos, NG | Custodial | Licensed/registered in 20+ African markets | — |
Also verified as available in Nigeria
6 more products are verified as available to customers in Nigeria without being based there. This list is as complete as the availability field, which is to say partial.
| neobank | type | hq | custody | licence / structure | reported users |
|---|---|---|---|---|---|
| Strike | hybrid | Chicago, US | Custodial | Money transmitter licences + NY BitLicense (NYDFS, 2026); Zap Solutions, Inc. | — |
| RedotPay | hybrid | Hong Kong, HK | Custodial | Hong Kong MSO, money lender + TCSP licences; VASP (RedotX UAB, Lithuania FCIS); MSB registrations (US/Canada) | — |
| Chipper Cash | hybrid | San Francisco, US | Custodial | Licensed e-money/payments across Africa (CBN, BoG, BoU, BNR); 40+ US money-transmitter licences; FCA EMI (UK) | — |
| Deel | hybrid | San Francisco, US | Custodial | MSB + US state money-transmitter licences (DPayments); US wallet via Alviere/CFSB; DLUSD via Bridge | — |
| MiniPay | web3-native | Oslo, NO | Self-custodial | Self-custodial software | 10M wallets (2025) |
| Sling Money | web3-native | London, UK | Self-custodial | Self-custodial software | — |
Common questions
Neobanks in Nigeria: how many are there?
14 of the 368 neobanks tracked here are headquartered in Nigeria. Every entry is verified active and listed on this page with its custody model, licence detail and the regions it serves.
Which neobanks in Nigeria are the largest?
Not answerable from public data: only 2 of these 14 disclose a user figure at all. The list below is therefore not a ranking, and anyone presenting one for this category is guessing.
How is this list of neobanks in Nigeria built?
These 14 are headquartered in Nigeria — parsed from the registered base of each company, so the count is complete. Availability is a different and much harder question: it is verified for 13 products in Nigeria so far, out of 368 tracked, so a neobank missing from the second table below has not been ruled out — it has not been checked. Corrections are welcome on GitHub.
Related
Neobanks in United States (63) · Neobanks in United Kingdom (29) · Neobanks in Germany (8) · Neobanks in France (11) · Neobanks in Brazil (10) · Neobanks in Argentina (9) · Neobanks in Mexico (11) · Neobanks in Colombia (7)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.