PRESIDENT TINUBU PLEDGES SUPPORT FOR FINTECH COMPANIES AS FLUTTERWAVE SEEKS LISTING ON THE NIGERIAN EXCHANGE
President Tinubu said his administration will support businesses in the financial technology sector that provide payment infrastructure services for Nigerians and Africans.
He said this when he received the leadership of Flutterwave and Alami Capital in Abuja on Saturday afternoon.
Flutterwave, a leading 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.
Olugbenga Agboola, the CEO; Adeleke Adekoya, a co-founder; Oluwabankole Falade and Mitesh Popat, represented Flutterwave at the meeting. Ms Oluseun Olufemi-White represented Alami Capital as its CEO.
Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun led the delegation to meet President Tinubu. Dr. Armstrong Ume Takang, the Managing Director and Chief Executive of the Ministry of Finance Incorporated (MOFI), and Dr. Inuwa Kashifu Abdullahi, the Director General/ Chief Executive Officer of the National Information Technology Development Agency (NITDA), also attended.
President Tinubu said Nigeria is genuinely open to business, and as President, he is determined to remove all obstacles to allow companies to thrive.
He commended Flutterwave's commitment to building capacity in the digital economy sector, especially as it is being made possible by energetic, young Nigerians. He said he is honoured to be the President of a country with such a youthful and resourceful population.
He said the leadership Flutterwave provides in the digital world is what Nigeria needs today to grow its economy and make life easier for most of its population.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said Flutterwave has made significant progress since its establishment 10 years ago. It has created jobs and helped diversify the economy by providing innovative digital platforms and payment services in Nigeria and across Africa.
The CEO of Flutterwave, Agboola, said the company has made it easy for Nigerians to pay for some global services with Naira and provided payment platforms for Nigerians in the diaspora who are willing to send money to families and relatives in the country.
He said Flutterwave, valued at over $3 billion, is a Nigerian export and brand employing over 1,000 Nigerians.
He said the company seeks to be listed on the Nigerian Exchange and solicited the President's support.
The Managing Director and Chief Executive of MOFI, Dr. Armstrong Ume Takang, said that as Africa's biggest economy, Nigeria must demonstrate its economic prowess by strategically positioning products and services by Nigerian companies, such as Flutterwave, in the homes of all Africans.
He said Flutterwave spends millions of dollars monthly on hosting services, but that money goes to other countries.
He suggested supporting Galaxy Backbone's hosting services to enable it to handle companies like Flutterwave.
Bayo Onanuga Special Adviser to the President (Information & Strategy) February 22, 2025
The ongoing exercise has so far led to the discovery of illicit drugs worth billions of naira. The market, comprising multiple buildings and shops, operates as a hub for repackaging and revalidating expired medicines under false claims, before selling to unsuspecting consumers.
Since the enforcement operation began over a week ago, NAFDAC has removed at least 10 fully loaded 40-foot trucks of fake, substandard, and adulterated drugs from the market, some falsely claiming NAFDAC approval.
This man is the chairman of the building materials section of the market.
They asked him what he saw and he said that some people are using the place as wharehouse for drugs.
They asked him if he was aware of it and he said that he was not aware.
They asked him what he's going to do about it and he said that he has called for a meeting of officials of the market.
They asked him about the time that traders attacked NAFDAC officials at the market, but he said that he was not the chairman at that time. He said he heard about it, but he did not witness it.
Traders in the market have accused NAFDAC of targeting non-drug sections during the operation. However, intelligence led the agency to search these areas, revealing large quantities of illicit pharmaceuticals.
Heightened security measures were necessary due to a past incident...
In a startling discovery, NAFDAC uncovered prohibited drugs hidden inside PLUMBING MATERIALS SHOPS at the Onitsha Bridgehead Drug Market.
Officials seized two trailer loads of unregistered narcotics, banned tramadol, and counterfeit drugs concealed within these shops. pic.twitter.com/jJZy9oxSeN
Politics › Flutterwave And Alami Executives Visit President Tinubu by naptu2(op): 5:46am On Feb 23, 2025
