Flutterwave has announced that it has obtained a banking licence in Nigeria, a move that significantly expands its role within the country’s financial ecosystem.
The development was disclosed on Thursday, April 2, by the company’s founder and chief executive officer, Olugbenga Agboola, via a post.
With the new licence, Flutterwave is now authorised to directly hold customer funds and deposits, a shift that marks a major step in its evolution into a full-scale financial infrastructure provider.
The company said this transition will allow it to operate more efficiently and enhance the speed and reliability of its payment services.
“By operating with direct infrastructure, we can streamline our operations and accelerate payment flows for everyone,” the statement reads.
“Businesses can soon hold balances within Flutterwave, access improved treasury, and data-driven lending.”
Agboola noted that the approval strengthens the company’s ability to optimise its systems and deliver faster, more dependable financial solutions.
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He added that direct participation in the financial system would enable Flutterwave to simplify transfers, quicken merchant settlements, and introduce products that support long-term growth.
Describing the licence as a defining moment in the company’s decade-long journey, Agboola said Flutterwave remains committed to building the infrastructure that will shape Africa’s financial future.
“A decade ago, we started with a simple belief: better infrastructure changes everything. Payments failed too often, settlement was slow, and expanding meant rebuilding from scratch. So we focused on connecting what was fragmented,” he said.
“With the acquisition of @mono_hq earlier this year, we deepened that connectivity.
“Now we are going further by building a unified platform where businesses can open accounts, accept and send payments, manage payouts, run payroll, and operate across currencies in one place, with access to lending and working capital powered by real transaction data.”
He further explained that the company’s expanded capabilities will allow businesses to seamlessly manage their financial operations, while developers can build and scale financial products directly on its platform.
Agboola added that controlling more of the payment value chain in Nigeria positions Flutterwave to innovate more rapidly and respond to customer needs with greater efficiency.