Flutterwave Denies Government Investment, IPO

Flutterwave, Africa's largest fintech company, has firmly denied media reports claiming the Nigerian federal government approved a $75 million investment in the company and that it was preparing for a $250 million Initial Public Offering (IPO). The reports, which were amplified by a now-deleted social media post from a special assistant to President Bola Tinubu, suggested that the Nigeria===Ministry of Finance Incorporated (MoFI) would inject the funds. Flutterwave described these claims as inaccurate, stating it is not close to an IPO and has made no announcements regarding a listing or fundraising tied to one. CEO Olugbenga Agboola has consistently prioritized operational maturity, strong corporate governance, and compliance over near-term public market ambitions. This denial adds a layer of uncertainty around one of Africa's most closely watched potential tech listings, as Flutterwave, valued at over $3 billion, has long been considered a leading candidate for a major tech IPO. The company hinted at prioritizing a domestic listing in Nigeria before international exchanges when it eventually goes public.