Africa’s fintech unicorn, Flutterwave, is preparing for a landmark Initial Public Offering (IPO) worth $250 million a move that could become Nigeria’s most significant technology listing to date.
According to information gathered by The Nation, the company has invited the Federal Government to participate with an investment of $75 million through the Ministry of Finance Incorporated (MoFI).
This proposal forms part of Flutterwave’s strategic effort to secure sovereign endorsement, strengthen investor confidence, and promote broader Nigerian participation in its ownership.
Flutterwave’s Strategic Expansion
Flutterwave, a payment processing giant that provides seamless financial solutions for businesses of all sizes, holds the Switching and Processing License of the Central Bank of Nigeria (CBN). Founded in 2016 by three Nigerians — Iyinoluwa Aboyeji, Olugbenga Agboola, and Adeleke Adekoya — the company is headquartered in San Francisco, California, and is valued at over $1 billion, earning it the status of a unicorn.
A reliable source revealed that the Federal Government’s potential participation is under active consideration. “The Federal Government is being invited to invest up to $75 million, but no concrete agreement has been reached,” the source said.
Flutterwave has reportedly secured institutional investors, including some represented on its board, while new external investors have expressed strong interest in subscribing to the offer.
In preparation for the IPO, the Federal Government has engaged two of the world’s top four auditing firms to conduct a comprehensive review of Flutterwave’s financial statements and operational structure. The review aims to ensure transparency, proper valuation, and long-term viability before committing public funds.
Government Engagement and High-Level Talks
The development gained momentum after a strategic meeting between Flutterwave executives and President Bola Tinubu. During the session, President Tinubu reportedly encouraged the company to work closely with the Ministry of Finance and MoFI to align the initiative with Nigeria’s economic transformation agenda.
Following this directive, Flutterwave made a formal presentation to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, as well as to the MoFI leadership to advance discussions on possible collaboration.
“The goal,” according to insiders, “is to democratize ownership and ensure that Nigerians can share in Flutterwave’s growth story.” The source added that existing investors are eager to increase their stakes, while institutional investors have shown strong buying interest — suggesting that the IPO may be oversubscribed due to the firm’s vast growth potential.
Boosting Financial Inclusion and Digital Growth
Analysts believe Flutterwave’s IPO represents a defining moment for Nigeria’s capital market, particularly if the government decides to invest. They note that sovereign backing would enhance public trust and attract both local and foreign investors to Nigeria’s technology ecosystem.
The Ministry of Finance confirmed the ongoing discussions in an official statement on Friday, October 10, 2025. According to the ministry, Wale Edun met with Flutterwave Technology Solutions Limited and MoFI “to explore a potential strategic partnership.”
“Flutterwave, Africa’s foremost fintech, showcased how its cross-border payment infrastructure is powering trade, financial access, and entrepreneurship across more than 30 countries,” the statement read.
It added that the Federal Government is committed to supporting investments that expand financial inclusion, empower small businesses, and position Nigeria at the heart of Africa’s digital transformation.
The meeting concluded with an agreement to develop a clear roadmap for collaboration, signaling a strong commitment to strengthening Nigeria’s digital economy and reinforcing investor confidence in the country’s innovation landscape.
A Defining Moment for Nigeria’s Fintech Sector
If successful, Flutterwave’s IPO could set a new benchmark for Nigerian technology firms, encouraging more startups and fintechs to explore listings on the local exchange. Analysts describe it as a potential turning point that aligns the Federal Government’s “Nigeria First” strategy with private sector innovation.
The move could also help consolidate Nigeria’s reputation as Africa’s fintech hub deepening access to digital payments, promoting financial inclusion, and driving the growth of the digital economy across the continent.
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