BREAKING: OPay plans listing on Nigerian Exchange

Fintech behemoth OPay is reportedly set to list its shares on Nigeria's Nigerian Exchange (NGX), according to recent reports from Nairametrics. This potential listing could mark one of the most significant technology listings in Nigeria's capital market history. Sources close to the situation confirm that OPay is expected to formally announce its plans for the NGX listing in the near future.

The fintech company is simultaneously preparing for a potential initial public offering (IPO) in the United States, where it has targeted a valuation of approximately $4 billion. However, it remains unclear whether the proposed NGX listing will coincide with the planned US IPO or occur as part of a dual-listing structure. Specific details about the Nigerian listing, such as its timing, offer size, valuation, and the percentage of shares available to investors, have not yet been disclosed.

OPay is one of Nigeria's leading fintech companies, experiencing rapid growth in recent years, especially with the surge in digital payments and electronic transfers. The company processed a gross transaction value of $358 billion in 2025, a 115% increase from $166.2 billion the previous year. Revenue also climbed 161% to $536.3 million in 2025, while OPay reported an operating income of $107.1 million, compared to a $35.1 million operating loss in 2024.

Nigeria represents the majority of OPay's revenue, accounting for 88.1% of the company's total earnings in 2025.

The planned NGX listing aligns with recent calls from the Nigerian Exchange for major fintech companies to provide domestic investors with the opportunity to participate in their growth. In August, NGX Group CEO Temi Popoola urged President Bola Tinubu to support measures encouraging significant Nigerian companies generating substantial revenues to list their shares locally.

Popoola specifically named OPay and PalmPay among fintech companies contemplating overseas listings, emphasizing that Nigerian investors should also be able to benefit from the wealth generated by these companies. OPay is currently collaborating with Citigroup, Deutsche Bank, and JPMorgan Chase on its proposed US IPO, which is reportedly aiming for a valuation of around $4 billion.

Nairametrics notes that more information regarding OPay's proposed NGX listing is anticipated to be released soon, as this story continues to develop.