Federal government has approved a $75 million investment in fintech company Flutterwave as part of moves to support its planned public listing.
Gatekeepers News reports that the President Bola Ahmed Tinubu gave the approval for the capital injection as the company moves closer to launching its initial public offering (IPO).
The investment is expected to form part of Flutterwave’s broader plan to raise about $250 million through the IPO, aimed at strengthening its operations and expanding its market presence.
At the current exchange rate, the $75 million investment amounts to over N100 billion and represents a small fraction of the 2026 national budget.
Flutterwave, one of Africa’s leading payment technology firms, previously raised $250 million in Series D funding in 2022, which valued the company at more than $3 billion.
The new funding is expected to support the company’s growth strategy, including expanding its customer base, exploring mergers and acquisitions, and developing new financial products.
The federal government has also reiterated its commitment to supporting fintech companies that provide digital payment infrastructure across Nigeria and the continent, describing the sector as key to economic growth and financial inclusion.
Flutterwave has indicated interest in listing on the Nigerian Exchange, a move that could boost investor confidence and further position Nigeria as a hub for digital innovation in Africa.
