OPay plans listing on the Nigerian Exchange

Fintech company OPay is planning to list its shares on the Nigerian Exchange (NGX), a move that could represent one of the most significant technology listings in the history of Nigeria’s capital market. A formal announcement regarding the listing is expected soon, though specific details such as timing, valuation, and offer size have not been disclosed.

This local listing development coincides with OPay’s preparations for a potential initial public offering (IPO) in the United States, where the company is reportedly targeting a valuation of approximately $4 billion. It remains unclear if the company will pursue a dual-listing structure or if the NGX listing will follow the US offering.

OPay has experienced rapid growth, particularly in Nigeria, which accounts for 88.1% of its revenue. According to investment documents, the company processed a gross transaction value of $358 billion in 2025, a 115% increase from the previous year. Revenue for 2025 reached $536.3 million, while operating income rose to $107.1 million, a significant improvement from an operating loss in 2024.