Flutterwave has obtained a banking licence from the CBN, allowing it to expand from payments into full financial services across Africa.
Flutterwave has secured a banking licence from the Central Bank of Nigeria, enabling the fintech firm to expand beyond payments into full-scale financial services. The approval allows businesses to access banking tools, manage funds, and scale operations on a unified platform.
Chief Executive Officer Olugbenga Agboola described the development as a major milestone in the company’s decade-long journey, noting that the licence strengthens its ambition to build integrated financial infrastructure across Africa. He added that the firm can now innovate faster and control its payments value chain within Nigeria.
Founded in 2016, Flutterwave has processed over $40 billion in transactions and expanded across multiple African markets. The new licence, alongside recent strategic moves such as acquisitions, signals a broader shift as fintech firms increasingly converge with traditional banking to deliver end-to-end digital financial services.