US EditionFlutterwave Secures Nigerian Banking License to Accelerate Payment Efficiency
The licence lets Flutterwave hold deposits directly and expand consumer, business and treasury services across its platform, after processing over $40 billion in payments.
- On April 2, 2026, Flutterwave Inc. announced it secured a Nigerian banking license, enabling the company to hold deposits and manage financial flows directly within its ecosystem.
- Historically, global payment companies operated via a "sponsorship" model, partnering with commercial banks to access clearing systems, which often limited a fintech's innovation pace and required sharing transaction value.
- Over 1 million SendApp Users now access enhanced financial services, while over 2 million businesses can open accounts, manage payouts, and access multi-currency capabilities within the platform.
- "By operating directly within the financial system, we can streamline money movement," said Olugbenga Agboola, Founder and CEO of Flutterwave, as the company introduces merchant lending and working capital services.
- As Flutterwave marks its tenth year in 2026, the company remains committed to building financial infrastructure for Africa's digital economy while exploring stablecoin-enabled settlement to improve global payment efficiency.
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CBN Clears Flutterwave For Banking Licence
Flutterwave has secured regulatory approval from the Central Bank of Nigeria (CBN) to operate banking services in Nigeria, a development that comes as the fintech company says it has processed more than $40 billion in payments across its platform just within 10 years of its establishment and operations. The approval marks a significant milestone for the Lagos-based payments company, enabling it to expand beyond its core payment infrastructure se…
Flutterwave gains Nigerian banking licence to run microfinance services
The permit opens the door for Flutterwave to access the national market directly clearing and settlement systems and streamline transaction processing without having to rely on commercial banks to do so, as was the case before.
PR Newswire
Flutterwave Secures Nigerian Banking License to Accelerate Payment Efficiency
/PRNewswire/ -- Flutterwave Inc., Africa's leading payments technology company, today announced it has secured a Nigerian banking license. This license enables...
Flutterwave secures Nigerian banking licence after 10 years
Flutterwave, Africa's most valuable payments technology company, has secured a microfinance banking licence from the Central Bank of Nigeria, enabling it to hold customer deposits, offer bank accounts and extend loans directly for the first time in its ten-year history, ending its dependence on partner commercial banks to underpin its core financial infrastructure.The announcement was made on Thursday, April 2, by Flutterwave founder and CEO Olu…
Flutterwave Inc., obtained a local banking license, allowing it to hold deposits and directly manage financial flows in its main market. The aim is to speed up regulations and make financial services more efficient for consumers, businesses and traders. Until now, Nigerian fintech operated through partnerships with commercial banks, a model that limited its ability to innovate and involved sharing some of the transactional revenues. Read more»
Flutterwave Secures Approval to Operate Banking Services in Nigeria
Flutterwave has announced that it has secured a licence to operate banking services in Nigeria, marking a significant expansion of its financial services offerings. The fintech company disclosed this in a post shared on its official X handle on Thursday. The development signals Flutterwave’s growth from operating as a Virtual Asset Service Provider (VASP) to a company with core banking capabilities. What the company is saying Flutterwave said t…
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