By Epiphanus Obia
Flutterwave has denied reports that the Nigerian government approved a $75 million investment in the company, pushing back on widespread speculation that it is preparing for an imminent initial public offering (IPO).
The reports, which circulated on Monday, claimed that President Bola Ahmed Tinubu had authorised the investment through the Ministry of Finance Incorporated (MoFI) as part of plans to anchor a potential $250 million IPO. Some accounts also suggested a possible dual listing on the Nigerian Exchange and in New York.
The speculation appears to have been triggered by a now-deleted social media post from a presidential aide, which was picked up by local media and quickly went viral.
In a statement issued on Monday, Flutterwave described the claims as inaccurate, stating that it is “not in any way close to an IPO” and has made no announcements regarding a public listing or fundraising tied to one.
The company added that while it maintains ongoing engagement with government stakeholders on issues related to digital infrastructure and financial inclusion, there is no approved investment of the kind described in the reports.
The denial comes against the backdrop of months of visible interaction between Flutterwave and Nigerian government officials. In October 2025, senior executives from the company held meetings with Finance Minister Wale Edun to discuss potential strategic partnerships, though no formal investment agreements were disclosed.
Despite dismissing the latest claims, Flutterwave remains one of the most closely watched candidates for a major African tech listing. The Lagos-founded company, valued at over $3 billion following its 2022 funding round, has long been seen as a potential “lighthouse” IPO for Nigeria’s technology ecosystem.
Chief Executive Officer Olugbenga Agboola has previously indicated that Flutterwave’s priority is to become “IPO-ready” by strengthening corporate governance and operational systems, rather than committing to a specific timeline.
For now, however, Flutterwave’s response suggests that any plans to go public remain longer-term, with the company focused on execution and regulatory alignment rather than near-term fundraising.
As of Monday evening, MoFI had not issued a formal statement addressing the reports or the deleted post that sparked them.