Flutterwave announces banking license, to rival Nigerian banks

Flutterwave has announced that it has received a banking licence from the Central Bank of Nigeria, CBN, to run arsenic a full-fledged fiscal institution.

This was disclosed successful a connection connected Thursday by Flutterwave’s Chief Executive Officer and Co-Founder, Olugbenga Agboola.

He described the feat was a defining infinitesimal successful the firm’s 10-year journey.

He noted that with the development, businesses tin present tally their full fiscal operations seamlessly.

“Today, @theflutterwave announces a Nigerian banking license. It is simply a defining measurement successful our 10-year travel to physique the fiscal infrastructure powering Africa’s future,” helium wrote connected X.

The Central Bank of Nigeria had selected Flutterwave, Paystack and different firms arsenic the archetypal signifier of the aviator supervision programme for virtual plus work providers (VASPs).

Recall that earlier this year, Flutterwave acquired Nigerian unfastened banking startup Mono successful an all-stock transaction worthy up to $40 million.

Flutterwave announces banking license, to rival Nigerian banks