OPay has planned NGX listing as fintech targets $4bn valuation.
NewsOnline Nigeria reports that fintech giant OPay is reportedly planning to list its shares on the Nigerian Exchange, NGX, in what could become one of the most significant technology listings in Nigeria’s capital-market history.
Sources familiar with the development disclosed that the company was expected to formally announce its proposed NGX listing soon.
The move comes as OPay prepares for a potential initial public offering in the United States, targeting a reported valuation of approximately $4 billion.
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It remains unclear whether the Nigerian listing would occur simultaneously with the proposed US IPO or subsequently under a dual-listing arrangement.
Details concerning the timing, offer size, valuation and percentage of shares to be made available to investors have yet to be disclosed.
OPay’s spokesperson reportedly declined to comment when contacted about the development.
OPay has recorded rapid growth in Nigeria amid the increasing adoption of electronic transfers and digital-payment services.
According to an investment document, the company processed transactions valued at $358 billion in 2025, representing a 115 per cent increase from $166.2 billion in 2024.
Its revenue reportedly rose by 161 per cent to $536.3 million during the same period.
The fintech also recorded operating income of $107.1 million in 2025, reversing an operating loss of $35.1 million reported in the previous year.
Nigeria remains OPay’s largest market, accounting for 88.1 per cent of its revenue in 2025.
The proposed listing follows calls for major fintech companies generating substantial revenue in Nigeria to allow domestic investors to participate in their growth.
NGX Group Chief Executive Officer Temi Popoola recently urged President Bola Tinubu to support measures encouraging large technology companies operating in the country to list locally.
Popoola specifically mentioned OPay and PalmPay, which have been linked to potential overseas listings.
OPay is reportedly working with Citigroup, Deutsche Bank and JPMorgan Chase on the proposed US IPO.
Further information regarding the planned NGX listing is expected to be announced soon.
This is a developing story.
