OPay gets nod for NGX secondary listing after NYSE debut

OPay has secured board and shareholder approval to pursue a secondary listing on the Nigerian Exchange Limited (NGX) following the completion of its planned primary listing on the New York Stock Exchange (NYSE).

The company disclosed this in its Form F-1 registration statement filed with the United States Securities and Exchange Commission (SEC) on October 9, 2026.

“We have obtained the approval of our board and shareholders to pursue a secondary listing on the Nigerian Exchange Limited (‘NGX’) following the completion of our primary listing on the NYSE,” the company stated in the filing.

The disclosure confirms an earlier exclusive report by Nairametrics that OPay was planning to list its shares on the Nigerian bourse, potentially providing local investors with an additional avenue to gain exposure to the digital payments company.

However, the proposed NGX listing remains subject to market conditions and compliance with applicable Nigerian laws and regulatory requirements.

According to the filing, the proposed secondary listing will be subject to applicable Nigerian legal and regulatory provisions, including the Investments and Securities Act, 2025, the Securities and Exchange Commission’s Rules and Regulations, 2013, as amended, and the NGX Rulebook.

The company’s disclosure indicates that approval from its board and shareholders represents a step towards the planned listing, rather than confirmation that trading on the NGX will commence immediately.

OPay did not indicate in the cited disclosure a specific date for the proposed secondary listing.

The company also cautioned that shares traded on the NGX may not be interchangeable with its American Depositary Shares (ADSs) traded on the NYSE unless appropriate arrangements are established to facilitate transfers between the two markets.

“Unless and until appropriate cross-market arrangements are established, securities traded on the NGX may not be fungible with or exchangeable into our ADSs traded on the NYSE, which could limit investors’ ability to transfer holdings between markets, fragment liquidity and result in price differences or increased volatility,” OPay stated in the filing.