Flutterwave, an African fintech company with U.S. headquarters, has been granted a full banking license by the Central Bank of Nigeria (CBN). This marks a major milestone in the company’s ten-year journey to build a strong and reliable financial infrastructure for the country.
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The license enables Flutterwave to hold funds and manage deposits directly. This provides greater control over transactions on its platform, enabling faster, more efficient financial services for consumers and businesses in Nigeria.
Flutterwave Gains Full Banking License in Nigeria
Flutterwave’s banking license allows the company to hold deposits directly and manage how money moves across its platform. This added control makes its financial system stronger and helps it manage key parts of its payment process efficiently.
Speaking on the achievement, Flutterwave founder and CEO Olugbenga Agboola said, “This milestone allows us to make our infrastructure more efficient and deliver faster, more reliable financial services.”
With the license, Flutterwave can process transactions effectively, deliver better services to consumers and merchants, and develop new financial products faster.
Flutterwave Expands Services and Strengthens Financial Ecosystem
Earlier in 2026, Flutterwave acquired Mono, Nigeria’s leading open banking startup. This move improved account connections, strengthened its data systems, and made bank-linked payments smoother. Today, Flutterwave supports over 1 million SendApp users and more than 2 million businesses, significantly expanding the company.
The new license will allow the company to offer new services, including personal and business accounts, instant transfers, multi-currency tools, and lending and treasury solutions. To date, Flutterwave has processed over $40 billion in payments, completed more than 1 billion transactions, and currently, it operates in over 35 countries with more than 50 licenses.
Is Flutterwave Publicly Traded?
Flutterwave remains a private company, so it is not listed on any stock exchange. The fintech’s recent banking license and growth initiatives position it for long-term expansion across Africa’s financial ecosystem. Looking ahead, Flutterwave is exploring stablecoin-enabled settlements to improve payment efficiency and increase financial inclusion. Investors can track Flutterwave’s performance, company updates, and ratings on TipRanks Private Company Center.
