OPay is considering a listing on the Nigerian Exchange (NGX), amid growing calls for major fintechs to give Nigerian investors access to their growth.
A sources familiar with the matter, told Nairametics that the company has not made any official announcement, but is reportedly weighing an NGX listing.
Details on the timing, offer size, valuation and percentage of shares to be offered remain undisclosed.
The reported consideration comes as OPay is also said to be preparing for a potential initial public offering in the United States, where it has been targeting a valuation of about $4 billion.
It is not clear whether a potential NGX listing would happen simultaneously with the US IPO or as part of a dual-listing structure.
OPay remains one of Nigeria’s largest fintechs and has grown rapidly amid the boom in digital payments.
According to an investment document, OPay processed a gross transaction value of $358 billion in 2025, a 115 per cent increase from $166.2 billion in 2024.
Revenue surged 161 per cent to $536.3 million in 2025, while operating income stood at $107.1 million compared to a $35.1 million operating loss a year earlier. Nigeria accounted for 88.1 per cent of the company’s revenue in 2025.
The reported move follows recent calls by the Nigerian Exchange for large fintechs generating significant revenue in Nigeria to list locally.
In August, Group, Temi Popoola, chief executive officer, NGX, urged President Bola Tinubu to support measures encouraging major companies to list their shares on the NGX.
Popoola specifically cited OPay and PalmPay among fintechs considering overseas listings, arguing that Nigerian investors should also participate in the wealth being created.
Market analysts said a potential OPay listing would be one of the most significant technology listings in the history of the Nigerian capital market.
OPay is currently reported to be working with Citigroup, Deutsche Bank and JPMorgan Chase on its proposed US IPO.
