Flutterwave Denies $75m Tinubu Government Investment Claim, Dismisses IPO Rumours

Flutterwave, one of Africa’s most prominent fintech companies, has firmly denied reports claiming it received a $75 million investment from the Nigerian government under President Bola Tinubu. The company also rejected suggestions that it is preparing for an initial public offering (IPO), calling the circulating reports inaccurate and misleading.

The controversy began after multiple local media reports, amplified by a now-deleted social media post from a presidential aide, suggested that the Federal Government approved the investment through the Ministry of Finance Incorporated (MoFI). The same reports also speculated that Flutterwave was gearing up to raise as much as $250 million via an IPO.

Responding to the claims, Flutterwave clarified in a statement that no such investment exists and that it has not announced any plans for a public listing. The company stressed that the figures and IPO speculation being circulated are false and do not reflect its current position.

Despite long-standing market expectations, Flutterwave’s IPO timeline remains uncertain. CEO Olugbenga Agboola has previously said the company is focused on becoming “IPO-ready” by strengthening governance and internal operations rather than rushing into public markets.

Valued at over $3 billion in its last funding round, Flutterwave continues to be seen as a leading candidate for a major African tech IPO. However, shifting global market conditions, regulatory pressures, and internal priorities have slowed expectations. For now, the company maintains that there are no immediate plans for government-backed investment or a public listing.

source: sahara