President Bola Tinubu has reportedly approved a $75 million investment in Flutterwave as the Nigerian fintech giant advances preparations for a potential Initial Public Offering. The disclosure came from the President’s Special Assistant, Dada Olusegun, who said the deal was nearing completion, although no details were provided on the structure or timeline of the proposed investment.
Flutterwave, however, has distanced itself from the announcement, stating it is unaware of the reported transaction. The statement comes shortly after the company secured approval to offer banking services in Nigeria, a move expected to significantly broaden its operations beyond payments and digital transfers.
If confirmed, the investment would likely be channelled through the Ministry of Finance Incorporated and could strengthen investor confidence ahead of any future listing. Analysts view the move as a sign of growing government support for high-growth technology firms and a vote of confidence in Nigeria’s expanding fintech ecosystem.
