Tinubu Supports Fintech Growth as Flutterwave Eyes NGX Listing

President Tinubu reaffirms support for fintech innovation as Flutterwave moves towards listing on the Nigerian Stock Exchange (NGX).

President Bola Tinubu stated that his administration will support businesses in the financial technology sector that offer payment infrastructure services for Nigerians and Africans.

Presidential spokesman Bayo Onanuga reported that he made this statement upon receiving the leadership of Flutterwave and Alami Capital in Abuja on Saturday afternoon.

At the meeting, Flutterwave was represented by its CEO Olugbenga Agboola along with key stakeholders Adeleke Adekoya, Oluwabankole Falade, and Mitesh Popat. Alami Capital’s representation came from its chief executive officer, Oluseun Olufemi-White.

The delegation to meet President Tinubu was led by Wale Edun, the Minister of Finance and Coordinating Minister of the Economy. Other attendees included Dr. Armstrong Ume Takang, Managing Director and Chief Executive of the Ministry of Finance Incorporated (MOFI), along with Dr. Inuwa Kashifu Abdullahi, Director General and Chief Executive Officer of the National Information Technology Development Agency (NITDA).

President Tinubu expressed that Nigeria is truly open for business, and as President, he is committed to eliminating all barriers to enable companies to flourish.

He praised Flutterwave’s dedication to enhancing capacity in the digital economy, highlighting the vital role played by dynamic young Nigerians. He expressed his honor at being the President of a nation blessed with such a youthful and resourceful population.

He stated that the leadership Flutterwave demonstrates in the digital realm is precisely what Nigeria requires today to boost its economy and improve life for a large portion of its population.

Edun mentioned that since its inception a decade ago, Flutterwave has achieved remarkable progress. It has generated employment opportunities and contributed to economic diversification by offering cutting-edge digital platforms and payment services throughout Nigeria and across Africa.

Agboola stated that the company has simplified the process for Nigerians to pay for various international services using Naira. Additionally, they offer payment platforms designed for Nigerians living abroad who wish to send money back home to their families and relatives.

He stated that Flutterwave, with a valuation exceeding $3 billion, is an export and brand from Nigeria, providing employment to over 1,000 Nigerians.

He stated that the company aims to become a publicly listed entity on the Nigerian Exchange and sought the President’s support for this endeavor.