Nigeria’s House of Representatives has called on the Federal Government to intervene regarding the reported suspension of OPay’s planned listing on the New York Stock Exchange.
The legislative body urged the executive branch to take action in response to what it described as the alleged halting of the fintech company’s initial public offering in the United States.
While the specific reasons for the reported halt were not detailed in the statement, the move signals a significant point of contention between the Nigerian legislature and the regulatory or diplomatic processes surrounding the company’s international expansion.
OPay, a major player in Nigeria’s digital payments sector, had previously indicated its intention to list on the New York Stock Exchange, a move that would have marked a significant milestone for African fintech firms in global capital markets.
The intervention sought by the House of Representatives highlights the growing scrutiny of Nigerian tech companies as they navigate complex international regulatory environments and foreign exchange controls.
<small>Source: Punch Nigeria — read the original story there.</small>