OPay: Committed to Nigeria, advancing inclusive finance through technology

OPay, a leading fintech company in Nigeria, has reaffirmed its commitment to the Nigerian market and continued provision of financial services, despite false claims circulating on social media. The misinformation claimed that OPay would stop operating from September 1, but the company's Chief Operating Officer and Chief Technology Officer, Dotun Adekunle, clarified at a Live Town Hall in Lagos on September 2 that OPay is fully operational and will not discontinue its services.

The Central Bank of Nigeria (CBN) has also acknowledged the false information as fake news. OPay has taken legal action against those responsible for spreading the misleading information, warning of no impunity. The company emphasized that it will not tolerate deliberate misinformation that can cause fear, financial loss, or damage public confidence in the financial system.

OPay's actions aim to uphold accountability, protect customers, and respect the rule of law. The false information also raised concerns from industry stakeholders about the consequences of misinformation on the fintech ecosystem, stressing the importance of responsible communication and accurate information. OPay's commitment to Nigeria includes a ₦1.2 billion 10-year scholarship programme, which has already supported students at various institutions across the country, with the goal of reducing financial barriers to education and nurturing young talent.