Flutterwave has received regulatory approval to offer banking services in Nigeria. The fintech company confirmed it has been issued a licence by the Central Bank of Nigeria, allowing it to operate as a payment service bank. This development enables Flutterwave to provide deposit-taking services, facilitate transfers, and expand its financial offerings to individuals and businesses across the country. The firm, founded by Olugbenga Agboola, has grown rapidly since its 2016 launch and now processes billions of dollars in transactions annually across Africa. Agboola described the licence as a milestone for the company and a step forward for financial inclusion in Nigeria. The approval positions Flutterwave to compete more directly with traditional banks and other licensed financial institutions. It also reflects the central bank's increasing openness to digital-first players in the financial sector.