Fintech company OPay is reportedly planning to list its shares on the Nigerian Exchange (NGX), a move that could become one of the most significant technology listings in Nigeria’s capital market.
Sources familiar with the development told Nairametrics that OPay is expected to formally announce plans for the Nigerian listing soon. However, the company has not yet disclosed the proposed listing date, offer size, valuation or percentage of shares that may be made available to investors.
The proposed NGX listing comes as OPay is also preparing for a potential initial public offering in the United States, where the company has reportedly been targeting a valuation of about $4 billion.
It remains unclear whether the Nigerian listing would take place alongside the proposed US IPO or at a later date as part of a possible dual-listing arrangement.
OPay’s potential entry into the NGX could represent a major development for Nigeria’s capital market, particularly given the rapid expansion of the country’s technology and fintech sectors.
The company has grown significantly in Nigeria as digital payments, electronic transfers and mobile financial services have become increasingly important to consumers and businesses.
According to an investment document previously seen by Nairametrics, OPay processed a gross transaction value of approximately $358 billion in 2025, representing a 115 per cent increase from $166.2 billion recorded in the previous year.
The company’s revenue also reportedly increased by 161 per cent to $536.3 million in 2025, while operating income rose to $107.1 million compared with an operating loss of $35.1 million in 2024.
Nigeria remains OPay’s largest market, accounting for approximately 88.1 per cent of its revenue in 2025, according to the investment document.
The potential listing could provide Nigerian investors with an opportunity to participate directly in the growth of one of the country’s major fintech companies.
It could also strengthen the technology sector’s presence on the Nigerian Exchange, which has traditionally been dominated by companies in banking, telecommunications, manufacturing, consumer goods and other established industries.
For the NGX, attracting a major fintech listing could further deepen the exchange and increase investor interest in technology-driven businesses.
However, several details concerning the proposed transaction remain outstanding. These include the timing of the listing, the valuation at which OPay would offer its shares, the number of shares to be sold and whether existing shareholders would also sell part of their holdings.
Nairametrics reported that its enquiries to an OPay spokesperson did not result in an official comment on the proposed Nigerian listing.
Consequently, the reported plan remains subject to formal confirmation and regulatory processes.
If completed, OPay’s NGX listing would mark an important milestone for Nigeria’s fintech industry and could encourage other fast-growing technology companies to consider the local capital market as a source of funding and expansion.
