OPay takes legal action over shutdown claims

OPay, a Nigerian financial technology firm, has taken legal action against those who spread false rumors claiming the company planned to shut down operations. This comes as a surge in misinformation targets fintech platforms and mobile payment systems in Nigeria, fueled by regulatory crackdowns and heightened concerns over digital security.

At a press conference in Lagos, OPay's Chief Legal Counsel, Akinfolabi Rokosu, vowed to hold accountable those who knowingly disseminated the damaging information. The company has enlisted the help of the Department of State Services and the Nigeria Police Force to track down the culprits, with an ongoing court case already in progress.

OPay's Chief Operating Officer and CTO, Dotun Adekunle, emphasized that the platform remains fully operational, countering the false claim of a shutdown slated for September 1. He urged the public to disregard unverified social media posts, emphasizing that even seemingly official-looking content can be false. OPay, which serves over 30 million users and merchants, plays a crucial role in Nigeria's fintech landscape, processing vast volumes of transactions and reinforcing the importance of trust in the digital payment ecosystem.