OPay gets board, shareholder approval for NGX listing
OPay Limited, the Nigerian-focused fintech preparing for a proposed $4 billion initial public offering (IPO) in the United States, has secured board and shareholder approval to pursue a secondary listing on the Nigerian Exchange Limited (NGX), potentially opening its ownership to more domestic investors.
The approval, disclosed in the company’s registration statement filed with the United States Securities and Exchange Commission (SEC) on October 9, 2026, provides a formal pathway for the fintech to access Nigeria’s capital market after its planned primary listing on the New York Stock Exchange (NYSE).
The company said the proposed Nigerian listing would depend on market conditions, regulatory approvals and compliance with applicable Nigerian securities laws and NGX requirements.
“We have obtained the approval of our board and shareholders to pursue a secondary listing on the NGX following the completion of our primary listing on the NYSE,” OPay stated in the filing.
However, the approval does not mean the Nigerian listing has been completed or that trading will begin immediately. OPay’s proposed US offering also remains subject to regulatory and exchange approvals, with the preliminary prospectus yet to specify the offer price, number of securities to be sold and expected proceeds.
The development marks a significant step towards giving Nigerian investors an opportunity to participate directly in the growth of a fintech whose operations are heavily concentrated in the country, even as it seeks access to international capital through the US market.
OPay’s proposed NGX listing comes amid growing interest in bringing major Nigerian-focused technology companies to the domestic stock market, particularly as some prepare to raise capital internationally.
In August, the Nigerian Exchange’s chief executive, Temi Popoola, urged the government to encourage major businesses generating substantial revenues in Nigeria to list locally, citing fintech companies including OPay and PalmPay.
