Flutterwave gets Nigeria’s highest payments license

The Central Bank of Nigeria (CBN) has granted Flutterwave, the most valuable fintech firm in Africa, a Switching and Processing License, widely regarded as the most valuable payments processing licence held by the CBN.

With the aid of this licence, Flutterwave is able to provide card processing and transaction switching services to clients. Non-bank acquiring, agency banking and payment gateway services are a few more.

The business is also capable of processing card payments, taking part in agency banking, and providing a range of payment services without the use of middlemen. Flutterwave was formerly authorised to operate under the terms of its International Money Transfer Operator (IMTO) and Payment Solution Service Provider (PSSP) licences.

Commenting, CEO and Founder, Olugbenga GB Agboola said, “This is big news for our customers, partners, investors, and other stakeholders. It is an important milestone in our growth story.”

Our objective of creating a top-notch and secure payment infrastructure for international merchants and payment service providers across the continent is aligned with the development of a robust payments ecosystem in Nigeria, the largest economy in Africa.