Flutterwave Secures Banking Licence in Nigeria, Expands Into Full-Service Financial Infrastructure

Flutterwave has secured banking licence in Nigeria and expanded into full-service financial infrastructure.

NewsOnline Nigeria reports that Flutterwave has announced that it has obtained a banking licence in Nigeria, marking a major shift in its evolution from a payments processor to a full-service financial infrastructure provider.

The fintech company disclosed the development in a post on its official X platform, noting that the licence allows it to move deeper into core banking operations and gain greater control over how financial transactions are processed, settled, and managed.

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With the new licence, Flutterwave said it can now offer a broader suite of services, including accounts, payments, payouts, and capital solutions all within a unified system.

The company explained that the move will significantly improve settlement speed, enhance reliability, and deliver a more seamless user experience for businesses operating on its platform.

The milestone represents a transition from relying on third-party infrastructure to building and managing its own end-to-end financial ecosystem, giving the company more control over product design and service delivery.

The development comes at a time of heightened regulatory scrutiny of fintech firms in Nigeria, particularly those operating as Virtual Asset Service Providers (VASPs).

The Central Bank of Nigeria recently launched a pilot regulatory programme targeting VASPs, including Flutterwave and Paystack, with a focus on Anti-Money Laundering (AML), Counter-Financing of Terrorism (CFT), and Counter-Proliferation Financing (CPF) compliance.

The initiative aligns with existing frameworks such as the Money Laundering Act 2022 and the Banks and Other Financial Institutions Act (BOFIA) 2020, and is aimed at strengthening oversight and improving the integrity of Nigeria’s financial system.

Flutterwave’s banking licence also builds on its recent expansion strategy. In January 2026, the company acquired Mono in an all-stock deal valued between $25 million and $40 million, further strengthening its capabilities in data, identity, and open banking.

Mono will continue to operate independently, but the acquisition reinforces Flutterwave’s ambition to build an integrated financial ecosystem that supports businesses across Africa.

The latest move positions Flutterwave as a more comprehensive player in Nigeria’s fintech landscape, bridging payments, banking, and financial services under a single platform.