President Bola Tinubu has said that his administration would support businesses in the Financial Technology (Fintech) sector that provide payment infrastructure services for Nigerians and Africans.
Agboola said that the company seeks to be listed on the Nigerian Exchange and solicited the President’s support.
Receiving the leadership of Flutterwave and Alami Capital in Abuja on Saturday afternoon at the State House, Abuja, the President said that Nigeria is genuinely open to business, and as President, he is determined to remove all obstacles to allow companies to thrive.
Flutterwave, a leading Fintech company founded by young Nigerians and headquartered in Lagos, operates in the United States, Canada, Nigeria, Kenya, Uganda, Ghana, South Africa, and 29 other African countries. It intends to be listed on the Nigerian Exchange (NGX) and solicited the President’s support.
President Tinubu commended Flutterwave’s commitment to building capacity in the digital economy sector, especially as it is being made possible by energetic, young Nigerians. He said he is honoured to be the President of a country with such a youthful and resourceful population.
He said the leadership Flutterwave provides in the digital world is what Nigeria needs today to grow its economy and make life easier for most of its population.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun said Flutterwave has made significant progress since its establishment 10 years ago, adding that it has created jobs and helped diversify the economy by providing innovative digital platforms and payment services in Nigeria and across Africa.
The CEO of Flutterwave, Olugbenga Agboola said the company has made it easy for Nigerians to pay for some global services with Naira and provided payment platforms for Nigerians in the diaspora who are willing to send money to families and relatives in the country.
He said that Flutterwave, valued at over $3 billion, is a Nigerian export and brand employing over 1,000 Nigerians.
Agboola said that the company seeks to be listed on the NGX and requires the President’s support in that direction.
The Managing Director/ CEO of the Ministry of Finance Incorporated (MOFI), Dr. Armstrong Ume Takang said that, as Africa’s biggest economy, Nigeria must demonstrate its economic prowess by strategically positioning products and services by Nigerian companies, such as Flutterwave, in the homes of all Africans.
He said that Flutterwave spends millions of dollars monthly on hosting services, but that money goes to other countries.
He suggested supporting Galaxy Backbone’s hosting services to enable it to handle companies like Flutterwave.
Also at the meeting with Agboola were a co-founder of Flutterwave, Adeleke Adekoya; Oluwabankole Falade and Mitesh Popat, both also representing Flutterwave; and CEO of Alami Capital, Ms. Oluseun Olufemi-White.
Edun led the delegation which included Takang, and the Director General/CEO of the National Information Technology Development Agency, Dr. Inuwa Kashifu Abdullahi.
