OPay is considering a listing on the Nigerian Exchange (NGX), even as the fintech reportedly prepares for a potential initial public offering (IPO) in the United States at a valuation of about $4 billion.
A source familiar with the matter stated that OPay has not made any official announcement but is weighing the possibility of listing its shares on the NGX.
Details of the proposed Nigerian listing, including its timing, valuation, offer size and percentage of shares to be offered, remain undisclosed. It is also unclear whether the NGX listing would take place alongside the US IPO or form part of a dual-listing arrangement.
OPay is one of Nigeria’s largest fintech companies and has expanded rapidly alongside the growth of digital payments in the country.
According to an investment document, OPay processed $358 billion in gross transaction value (GTV) in 2025, representing a 115 per cent increase from $166.2 billion recorded in 2024.
The company’s revenue also rose by 161 per cent to $536.3 million in 2025, while operating income reached $107.1 million, compared with an operating loss of $35.1 million in the previous year. Nigeria accounted for 88.1 per cent of OPay’s revenue during the period.
The reported move comes amid growing calls for major Nigerian fintech companies to list locally and give domestic investors an opportunity to participate in their growth.
In August, NGX Group Chief Executive Officer, Temi Popoola, urged President Bola Tinubu to support measures that would encourage major companies to list on the Nigerian bourse.
Popoola specifically mentioned OPay and PalmPay as fintechs reportedly considering overseas listings, arguing that Nigerian investors should also benefit from the wealth created by these companies.
Market analysts said an OPay listing could become one of the most significant technology listings in Nigeria’s capital market.
The fintech is reportedly working with Citigroup, Deutsche Bank and JPMorgan Chase on its proposed US IPO.
Meanwhile, the fintech firm has debunked a viral post that it is shutting down in September, reiterating that it has come to stay.
“@opay.ng has dismissed a message circulating on social media claiming that the fintech company is going on an indefinite break from September 1, 2026.
“The message is FALSE. OPay is not going anywhere, and customers should disregard the misleading information. Before sharing messages online, always verify the source and check @opay.ng’s official social media pages for authentic updates,” a message from the firm read.
