Dike Onwuamaeze
In line with Nigerian Exchange Group Plc’s (NGX Group) advocacy for leading Nigerian businesses to list domestically, OPay has secured board and shareholders approval to pursue a secondary listing on Nigerian Exchange Limited (NGX).
This followed the completion of its planned primary listing on the New York Stock Exchange (NYSE).
A statement titled, “NGX Group’s Push for Local Tech Listings Gains Attention Amid OPay IPO Plans,” which was issued by the NGX said that the decision was disclosed in OPay’s Form F-1 registration statement filed with the United States Securities and Exchange Commission (SEC) on October 9, 2026.”
The development comes barely two months after the board and management of NGX Group, led by its Chairman, Dr. Umaru Kwairanga, and Group Managing Director/Chief Executive Officer NGX, Temi Popoola, met with President Bola Ahmed Tinubu, where they advocated a deliberate national strategy to encourage leading Nigerian businesses, particularly technology companies, to list domestically or pursue dual listings.
During the August 6 engagement, Popoola specifically identified OPay among the major fintech companies whose participation in the domestic capital market could broaden investment opportunities for Nigerians. His proposition was anchored on a broader ambition: ensuring that companies generating significant economic value from Nigeria also provide opportunities for domestic investors to participate in their growth and long-term wealth creation.”
Popoola has consistently advocated moving Nigerians beyond their roles as consumers, employees and users of services to become shareholders in the businesses driving economic growth.
The state said, “For a company such as OPay, whose growth is supported by a substantial Nigerian customer base, a domestic listing could provide an opportunity for its users to participate in its ownership and share in the value it creates.”
The statement said that OPay’s formal disclosure gives greater substance to this proposition as its proposed IPO in the United States of America would provide access to international capital, and the planned secondary listing on NGX could establish an additional pathway for Nigerian investors to participate in the company’s growth, bringing domestic ownership into a business with a significant presence in Nigeria’s digital financial services sector.
It said: “The company is pursuing an initial public offering (IPO) of American Depositary Shares (ADSs) and has applied to list on the NYSE under the proposed ticker symbol “OPAY”.
“The planned Nigerian listing remains subject to market conditions and applicable regulatory approvals.”
For NGX Group, the development reinforced the relevance of its ongoing engagement with policymakers, regulators and corporate leaders to position the capital market as a central platform for long-term capital formation.
Although OPay has secured the necessary corporate approvals to pursue a Nigerian listing, the transaction remains contingent on the completion of its NYSE listing and compliance with applicable Nigerian regulatory and market requirements.