RismadarVoice Reporters, May 4, 2026
A Nigerian investment commentator and TikTok creator, Mr Abdul, has ignited widespread debate online following claims that fintech giant OPay is preparing for a United States stock market listing at a valuation of $4bn.
In a viral video circulating across social media platforms, Mr Abdul expressed astonishment at the scale of the reported valuation, noting that it surpasses the market worth of several long-established Nigerian banks, including Zenith Bank, Guaranty Trust Bank, Stanbic IBTC and Union Bank of Nigeria.
“One app built in Lagos, worth more than some of Nigeria’s oldest financial institutions combined,” he said, adding that many Nigerians remain unaware of the development.
According to him, the fintech firm is considering an initial public offering (IPO) on either the New York Stock Exchange or NASDAQ, with global financial heavyweights — Citigroup, Deutsche Bank and JPMorgan Chase — reportedly engaged as underwriters.
Founded in 2018, OPay has grown rapidly within Nigeria’s digital payments ecosystem, reportedly amassing over 50 million registered users and millions of daily active users. Mr Abdul said the platform processes tens of millions of transactions daily, with monthly transaction volumes running into billions of dollars.
He traced the company’s valuation trajectory from a $2bn valuation following a 2021 funding round led by SoftBank to its current $4bn target, attributing the rise to consistent growth in users, transactions and revenue.
However, the TikToker’s remarks took a critical turn over the company’s reported preference for a US listing, rather than the domestic market. He argued that Nigerian users whose transactions and adoption have driven the platform’s growth may be excluded from directly benefiting from the company’s public offering.
“Every trader using an OPay POS, every market woman sending money, every young Nigerian choosing the app that is what built this valuation,” he said. “Yet, when the company goes public, those same Nigerians may not have access to invest.”
Mr Abdul further described the situation as part of a broader pattern among Nigerian fintech firms, citing Flutterwave, Moniepoint and Interswitch as examples of companies that scale locally but pursue international listings.
Despite his concerns, he acknowledged the structural limitations of Nigeria’s capital market, noting that exchanges such as the Nigerian Exchange Group lack the liquidity, global visibility and valuation multiples offered by US markets.
The commentary has since triggered mixed reactions among analysts and the public, with some defending the business rationale behind offshore listings, while others echo concerns about limited participation for Nigerian retail investors.
Mr Abdul described the potential listing as both a milestone and a moment for reflection. “It is extraordinary that a Nigerian-used app could reach this valuation,” he said. “But the question remains extraordinary for whom?”
As of the time of reporting, OPay has not issued an official statement confirming plans for a US IPO.
