OPay, a leading African fintech company, has secured board and shareholder approval to pursue a secondary listing on the Nigerian Exchange (NGX) following its planned initial public offering (IPO) on the New York Stock Exchange (NYSE).
The proposed Nigerian listing aligns with the Nigerian Exchange Group’s (NGX Group) push to encourage major Nigerian businesses, particularly technology companies, to list locally and give domestic investors opportunities to own stakes in their growth.
OPay disclosed the plan in a Form F-1 registration statement filed with the United States Securities and Exchange Commission on October 9, 2026. The company is seeking to list American Depositary Shares on the NYSE under the proposed ticker symbol “OPAY”.
The proposed NGX listing remains subject to market conditions, completion of the planned US listing and applicable regulatory approvals.
The development follows an August 6 meeting between NGX Group’s Board and Management, led by Chairman Alhaji (Dr.) Umaru Kwairanga and Group Managing Director/Chief Executive Officer Temi Popoola, and President Bola Ahmed Tinubu at the Presidential Villa, Abuja.
During the meeting, the Exchange’s leadership advocated a national strategy to encourage leading Nigerian businesses to list domestically or pursue dual listings.
Popoola specifically identified OPay among the major fintech companies whose participation in the domestic capital market could expand investment opportunities for Nigerians.
He argued that businesses generating substantial value from Nigeria should also provide opportunities for local investors to participate in their growth and wealth creation.
For OPay, a secondary listing on NGX could enable Nigerian investors to acquire shares in a company with a significant presence in the country’s digital financial services sector, subject to the terms of the eventual offering.
Kwairanga has also emphasised the capital market’s role in mobilising long-term funding, supporting enterprise growth and promoting inclusive economic development.
Beyond OPay, the proposed listing could strengthen efforts to attract more technology-driven businesses to the Nigerian capital market, broaden sectoral representation and deepen domestic investor participation in the digital economy.
NGX Group has continued to engage policymakers, regulators and corporate leaders on positioning the capital market as a platform for capital formation, business expansion and wider public participation in economic growth.
Although the proposed listing is yet to be completed, OPay’s disclosure has renewed attention to the potential of dual listings to connect Nigerian investors with companies operating in the country while enabling those businesses to access international capital.
The move also highlights a broader challenge for Nigeria’s capital market: ensuring that as homegrown and Nigeria-focused businesses expand globally, domestic investors have greater opportunities to share in their long-term growth.
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