Fintech giant OPay is planning to list its shares on the Nigerian Exchange (NGX), a move that could rank among the biggest technology listings in Nigeria’s capital market.
Sources familiar with the matter revealed that OPay is expected to formally announce the proposed listing soon.
The planned NGX listing comes as the fintech prepares for a potential initial public offering (IPO) in the United States, where it is reportedly targeting a valuation of about $4 billion.
It remains unclear whether the Nigerian listing would take place alongside the US IPO or later as part of a dual-listing arrangement.
Details including the timing of the NGX listing, proposed offer size, valuation and the percentage of shares that could be offered to Nigerian investors have yet to be disclosed.
OPay’s spokesperson declined to comment when contacted.
OPay has emerged as one of Nigeria’s largest fintech companies, benefiting from the rapid growth of digital payments and electronic transactions across the country.
An investment document previously seen by Nairametrics showed that OPay processed a gross transaction value (GTV) of $358 billion in 2025, representing a 115 per cent increase from $166.2 billion in 2024.
The company’s revenue also rose sharply, increasing 161 per cent to $536.3 million in 2025.
OPay recorded an operating income of $107.1 million, compared with an operating loss of $35.1 million the previous year.
Nigeria remains the company’s dominant market, accounting for 88.1 per cent of its revenue in 2025.
The proposed listing comes amid growing calls for Nigeria’s biggest fintech companies to give local investors an opportunity to participate in their growth.
Earlier in August, Temi Popoola, NGX Group Chief Executive Officer, urged President Bola Tinubu to support policies that would encourage major companies generating significant revenues in Nigeria to list locally.
Popoola specifically cited OPay and PalmPay among fintech companies reportedly considering overseas listings.
He argued that Nigerian investors should have an opportunity to benefit from the wealth being created by some of the country’s fastest-growing technology companies.
