Tinubu clears $75m investment in Flutterwave ahead of IPO

President Bola Ahmed Tinubu has given the green light for a $75 million investment in Flutterwave as the fintech firm progresses toward its planned Initial Public Offering (IPO).

The update was shared by the President’s Special Assistant, Dada Olusegun, via a social media post, noting that the deal is nearing completion, though further details on its structure and timeline were not disclosed.

The approval comes on the heels of Flutterwave’s recent authorisation to operate banking services in Nigeria, a development that significantly expands its operational scope and strengthens its presence in the financial sector.

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Officials say the move underscores increasing confidence in the company’s growth trajectory and long-term viability. It also follows reports that the government commissioned international audit and accounting firms to review the company’s financial and operational records as part of due diligence.

The investment forms part of Flutterwave’s wider capital-raising plans ahead of its proposed IPO, with the company aiming to raise about $250 million. While a listing date has yet to be announced, preparations are ongoing, with profitability remaining a key requirement before entering the public market.

Chief Executive Officer Olugbenga Agboola has reiterated the firm’s focus on building sustainable growth and long-term value ahead of any public listing.

The Federal Government’s participation is expected to be channelled through the Ministry of Finance Incorporated, signalling a more deliberate push to support fast-growing technology companies.

Analysts believe the development could strengthen Flutterwave’s valuation and improve investor sentiment ahead of the IPO, while also widening participation in one of Africa’s most prominent fintech firms. It reflects a broader trend of increased government interest in nurturing innovation-led enterprises within Nigeria’s digital economy.

With fresh capital backing and expanded regulatory approval, Flutterwave is seen as well-positioned to scale its operations, broaden its service offerings, and reinforce its standing as it edges closer to a potential public listing.