President Bola Tinubu has reaffirmed his administration’s commitment to supporting financial technology businesses that provide payment infrastructure for Nigerians and Africans.
He made this pledge during a meeting with the leadership of Flutterwave and Alami Capital in Abuja on Saturday. The delegation was led by Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and included Dr. Armstrong Ume Takang, Managing Director of the Ministry of Finance Incorporated (MOFI), and Dr. Inuwa Kashifu Abdullahi, Director General of the National Information Technology Development Agency (NITDA).
Flutterwave, a Lagos-headquartered fintech company founded by young Nigerians, operates in the U.S., Canada, Nigeria, Kenya, Uganda, Ghana, South Africa, and 29 other African countries. Representing the company at the meeting were CEO Olugbenga Agboola, co-founder Adeleke Adekoya, Oluwabankole Falade, and Mitesh Popat, while Alami Capital was represented by CEO Oluseun Olufemi-White.
President Tinubu emphasized that Nigeria is open for business and assured fintech companies of his commitment to eliminating obstacles hindering their growth. He praised Flutterwave’s role in advancing the digital economy and commended the innovative contributions of young Nigerians driving the sector.
“The leadership Flutterwave provides in the digital space is exactly what Nigeria needs to grow its economy and improve lives,” Tinubu stated.
Minister Wale Edun highlighted Flutterwave’s significant progress over the past decade, noting its impact on job creation and economic diversification through digital payment solutions.
Flutterwave CEO Agboola explained how the company facilitates Naira payments for global services and provides remittance solutions for Nigerians in the diaspora. Valued at over $3 billion, Flutterwave employs more than 1,000 Nigerians and aims to be listed on the Nigerian Exchange. Agboola sought the President’s support for the company’s growth plans.
Dr. Armstrong Ume Takang of MOFI stressed the importance of positioning Nigerian companies like Flutterwave at the forefront of Africa’s digital economy. He noted that Flutterwave spends millions of dollars monthly on foreign hosting services and suggested leveraging Galaxy Backbone’s infrastructure to retain such funds within Nigeria.
