Flutterwave has issued clarifications following recent reports that the Federal Government of Nigeria invested $75 million in the fintech company.
According to the company, no such transaction has been officially announced, but discussions with stakeholders remain ongoing.”
Flutterwave stated this in a statement released on Tuesday in response to the reports.
The company said some of the media coverage may have stemmed from evolving discussions or interpretations of broader engagements, but did not reflect any completed or officially disclosed investment.
What Flutterwave is saying
In the statement, Flutterwave did not outrightly dismiss the reports but insisted that there has not been any official announcement of such investment.
- “At this time, Flutterwave has not announced any investment of this nature. Some of the recent reports may reflect evolving discussions or interpretations of broader engagement, but they do not correspond to any formally executed or disclosed transaction by the company,” it stated.
The fintech firm also addressed speculation linking the reported investment to a potential initial public offering, noting that earlier discussions referenced possible private capital participation rather than a public listing.
According to Flutterwave, the conversations relate to options such as a Series E funding round or similar pre-IPO positioning, which are common steps for scaling growth-stage companies.
It added that any future IPO would depend on several factors, including market conditions, regulatory readiness and long-term value creation.
More insights
Flutterwave said it continues to engage with a broad range of institutional and sovereign stakeholders as part of its expansion strategy.
The company explained that such engagements may include exploratory conversations around strategic participation aligned with long term economic and ecosystem development goals, but do not necessarily indicate that any deal has been finalised.
Flutterwave urged stakeholders to rely on confirmed corporate disclosures, noting that ongoing market discussions can sometimes be interpreted differently before formal announcements are made.
- The company also highlighted its operational scale across Africa and global markets, stating that it has processed more than $50 billion through over one billion cross border transactions.
- Flutterwave added that it currently holds more than 50 licences, has technology reach in 34 countries, and serves customers including Uber, Air Peace and PiggyVest.
- The company further pointed to recent strategic developments in Nigeria, including the acquisition of open banking platform Mono and the securing of a microfinance banking licence.
According to Flutterwave, these moves are expected to strengthen its ability to scale operations in Nigeria, support financial inclusion and enhance participation in national clearing and settlement systems.
It added that any future capital event, whether private or public, would be approached with a focus on long term value, strong governance and alignment with global best practices.
Backstory
On Monday, Special Assistant to President Tinubu on Social Media, Dada Olusegun, posted on X, formerly Twitter, that the President had approved a $75 million investment in Flutterwave.
However, hours after this was reported by the media, a Flutterwave spokesperson denied knowledge of such an investment.
The President’s Special Assistant would later delete the post.
What you should know
Flutterwave recently secured a licence to operate banking services in Nigeria, marking a major milestone in its growth trajectory.
The licence enables the company to expand beyond its previous role as a Virtual Asset Service Provider.
It allows Flutterwave to offer a broader range of financial services through its existing platforms. The move strengthens its position within Nigeria’s financial services industry.
The combination of regulatory approval and fresh investment support underscores Flutterwave’s ambition to scale operations and solidify its standing ahead of a potential public listing.
