OPay is preparing to list its shares on the Nigerian Exchange (NGX), potentially giving local investors direct access to one of Nigeria’s largest fintech companies.
People familiar with the matter said the fintech could announce the plan soon. OPay has not confirmed the proposed listing, while its spokesperson declined to comment.
The move comes as OPay pursues a potential US initial public offering (IPO) targeting a valuation of about $4 billion. Citigroup, Deutsche Bank and JPMorgan Chase are advising on the proposed offering.
It remains unclear whether the NGX listing would coincide with the US IPO or follow under a dual-listing arrangement. Details including timing, valuation, offer size and the number of shares to be sold locally remain undisclosed.
The reported plan follows renewed calls for major fintechs to give Nigerian investors access to their growth.
On August 8, 2026, NGX Group Chief Executive Officer Temi Popoola urged President Bola Ahmed Tinubu to support measures encouraging major companies to list locally. He specifically cited OPay and PalmPay among fintechs considering overseas listings.
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OPay’s reported listing plans follow a sharp improvement in its financial performance. The company processed $358 billion in gross transaction value in 2025, up 115 per cent from $166.2 billion in 2024.
Revenue jumped 161 per cent to $536.25 million, while operating income swung from a $35.1 million loss to $107.1 million.
OPay also posted a $72.47 million net profit, reversing a $50.98 million loss in 2024.
Nigeria accounted for 88.1 per cent of its 2025 revenue, underscoring the market’s importance to the business.
If completed, an NGX listing would give Nigerian investors an ownership route into OPay while complementing its push for international capital.
For now, the proposal remains unconfirmed, with no formal listing timetable or terms announced.