OPay debunks viral September closure claim, urges users to verify information

OPay has refuted a viral claim on social media that it plans to shut down operations in September. The company dismissed the message, describing it as false and misleading. The information, which went viral on multiple platforms, falsely warned users to withdraw their funds before the alleged shutdown, which was said to begin on September 1.

This misinformation caused concerns among some users, leading to precautionary withdrawals. OPay, in response to the speculation, issued a statement on its verified social media platforms, confirming that its services are fully operational and there are no plans to discontinue business activities. The company urged customers to verify information through its official channels before believing unverified claims.

OPay identified several inconsistencies in the viral publication, which suggested it was fabricated. These inconsistencies included the incorrect use of the company's logo, spelling errors, an unfamiliar communication template, and inaccurate information. The clarification comes as there is speculation about OPay's future growth plans, including potential listings on the Nigerian Exchange (NGX) and a US IPO.

It remains unclear if these potential listings would occur simultaneously or as part of a subsequent dual-listing strategy. In 2025, OPay achieved a strong financial turnaround, posting a net profit of $72.47 million, up from a $50.98 million loss in 2024. Revenue also surged by 161% to $536.25 million from $205.73 million the previous year, driven by increased transaction volumes, user growth, and the expansion of its lending business.

These impressive figures, as reported by Nairametrics, highlight OPay's rapid growth as it prepares for a potential public listing and broader expansion plans.