OPay Plans NGX Listing for Local Investor Access

OPay, one of Nigeria's largest fintech companies, is considering a share listing on the Nigerian Exchange (NGX), which would enable domestic investors to access its business directly for the first time. This planned listing is expected to be formally announced soon and may coincide with a potential initial public offering (IPO) in the US, where OPay aims for a valuation of approximately $4 billion.

The company has not disclosed details regarding the size of the share sale or pricing. OPay processed $358 billion in gross transaction value in 2025, significantly up from $166.2 billion in 2024, and reported a revenue increase of 161% to $536.3 million.

The majority of OPay's revenue, 88.1%, was generated in Nigeria, making a domestic listing strategically important. Citigroup, Deutsche Bank, and JPMorgan Chase are advising OPay on the US offering.

Temi Popoola, CEO of NGX Group, has urged for policies to encourage large companies to list locally, citing OPay as an example.