Abuja: President Tinubu has announced his administration’s commitment to supporting businesses in the financial technology sector that provide payment infrastructure services for Nigerians and Africans. The president made this statement during a meeting with leaders from Flutterwave and Alami Capital in Abuja, as reported by his spokesman, Mr Bayo Onanuga.
According to News Agency of Nigeria, Flutterwave, a Fintech company founded by young Nigerians and headquartered in Lagos, operates in the U.S., Canada, Nigeria, Kenya, Uganda, Ghana, South Africa, and 29 other African countries. The company was represented at the meeting by CEO Mr Olugbenga Agboola, co-founder Mr Adeleke Adekoya, as well as Oluwabankole Falade and Mitesh Popat. Alami Capital was represented by its CEO, Ms Oluseun Olufemi-White.
The meeting was led by Mr Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, with attendees including Dr Armstrong Takang, the Managing Director of Ministry of Finance Incorporated (MOFI), and Dr Inuwa Abdullahi, the Director General of the National Information Technology Development Agency. President Tinubu emphasized that Nigeria is open for business and committed to removing obstacles to allow companies to thrive.
President Tinubu praised Flutterwave’s efforts to build capacity in the digital economy sector, acknowledging the significant role of energetic, young Nigerians. He expressed pride in leading a country with such a youthful and resourceful population and highlighted the leadership Flutterwave is providing in the digital world as essential for economic growth.
Mr Edun noted that Flutterwave has made significant strides since its inception a decade ago, creating jobs and diversifying the economy with innovative digital platforms and payment services across Africa. CEO Mr Agboola mentioned that the company has facilitated payments for global services in Naira and provided platforms for Nigerians in the Diaspora to send money back home. Flutterwave, valued at over $3 billion, employs over 1,000 Nigerians and is considering listing on the Nigerian Stock Exchange, seeking the president’s support.
Dr Armstrong Takang emphasized that as Africa’s largest economy, Nigeria should showcase its economic capabilities by promoting products and services from Nigerian companies like Flutterwave across the continent. He pointed out that Flutterwave spends millions monthly on hosting services, funds that currently benefit other countries.