Flutterwave Secures Nigerian Banking License

Flutterwave, a leading African payments technology company, has secured a Nigerian banking license, allowing it to directly hold funds and deposits. This strategic move strengthens Flutterwave's financial infrastructure in Nigeria, its largest market, and enables more efficient financial services and settlement flows for consumers, businesses, and enterprises. Historically, payment companies operated via a 'sponsorship' model with commercial banks, which limited innovation. With this license, Flutterwave gains greater control over its financial value chain, improving operational efficiency and supporting faster product development. The Nigeria===Central Bank of Nigeria also invited Flutterwave to participate in a pilot program for supervising virtual-asset activities, indicating a broader regulatory push in the digital finance sector. Olugbenga Agboola, Flutterwave's CEO, emphasized that this milestone will streamline money movement, accelerate merchant settlements, and foster sustainable long-term growth. This development follows Flutterwave's earlier acquisition of Mono, further enhancing its financial connectivity infrastructure.