In a renewed push to enhance global trade cooperation, the recently concluded London trade mission to Nigeria, organized by London & Partners — the UK capital’s official growth agency — has reaffirmed its commitment to improving cross-border payments between Nigerian and UK businesses, despite existing country-specific regulatory challenges.

Led by the Mayor of London, Sadiq Khan, the mission was designed to strengthen economic, technological, and cultural ties between Lagos and London. A key focus of the mission was addressing persistent obstacles in the cross-border payment ecosystem that have hindered business operations and expansion efforts for Nigerian enterprises.

Cross-border transactions have historically been fraught with regulatory compliance hurdles, making seamless payment operations difficult for Nigerian businesses. However, the London delegation emphasized its readiness to partner with Nigerian startups and SMEs, particularly those in fintech and digital trade, to support growth, enable financial crime prevention, and boost job creation through improved regulatory technology solutions.

Speaking during the visit, Howard Dawber, Deputy Mayor of London for Business and Growth, noted:

“The trade mission is a vital opportunity to drive cross-ecosystem innovation and investment. We’re here to help London-based companies expand into Nigeria, and we’re equally committed to helping Nigerian businesses access the UK market — particularly by easing the regulatory bottlenecks in cross-border payments.”

He acknowledged that compliance management remains a major concern for startups across Africa. “There are clear regulatory frameworks that sometimes become rigid due to overzealous implementation. But these challenges also create opportunities. If we can solve these issues collaboratively, we’ll unlock enormous growth potential for both economies,” Dawber said.

He also stressed the need for regulatory change management, stating that while the UK’s regulatory institutions are known for their strict adherence to global standards, there is room to adjust practices to better support innovation without compromising governance, risk, and compliance (GRC).

At a panel session during the mission, Austin Okpagu, Nigeria Director at Verto, a global cross-border paymentsinfrastructure company, showcased how Verto is enabling global trade in fragmented markets like Nigeria.

“Our system supports over 50 currencies and facilitates payouts to 170+ countries. We provide local rails for seamless regulatory reporting, and our platform is designed to integrate with businesses seeking to scale internationally,” he explained.

Also speaking at the session, Mayokun Owolabi, VP of Global Expansion and Payment Partnerships at Flutterwave, emphasized the company’s regulatory-first approach to cross-border payment solutions.

“Flutterwave is one of the most licensed non-bank entities in Africa. Our growth has always been built on compliance with country-specific regulations. We aim to simplify payments while remaining compliant, ensuring that Africa can pay the world — and the world can pay Africa,” she said.

Owolabi also highlighted the broader mission beyond payments:

“We’re not just processing transactions; we’re solving structural problems that limit financial inclusion and efficient regulatory enforcement.”

The London trade mission concluded its Lagos visit and has moved on to Accra, Johannesburg, and Cape Town, bringing along a delegation of 26 high-growth companies focused on enterprise, fintech, and sustainability. The initiative signals London’s growing interest in fostering regulatory intelligence and trade cooperation with African economies, with a view to creating borderless, compliant financial ecosystems.

By addressing challenges related to regulatory requirements, compliance software integration, and data privacy, the London-Lagos collaboration is poised to set the foundation for smarter, faster, and more secure international payments infrastructure.