Lagos: OPay, a Nigerian fintech company, has reaffirmed its continued operations in Nigeria, dismissing reports that it plans to shut down.
According to News Agency of Nigeria, the company gave the assurance at a Town Hall held in Lagos on Wednesday to address false information circulating on social media. The Town Hall brought together OPay senior executives, industry stakeholders, media representatives, and other partners to clarify the reports and reaffirm the firm’s commitment to Nigeria.
Dotun Adekunle, Chief Operating Officer and Chief Technology Officer of OPay, stated that the company remained fully operational and had no plans to leave Nigeria. “OPay is here, OPay is operating, and OPay is going nowhere. The message circulating online is false,” Adekunle said. He emphasized that there was no decision by OPay to shut down its operations in Nigeria, nor was there any indefinite leave.
Adekunle explained that the false message claimed OPay would stop operating from Sept. 1, yet the company remained f
ully operational on Sept. 2, with its services continuing normally across the country. He urged Nigerians to verify information through OPay’s official communication channels before making financial decisions based on messages circulated online. Adekunle also confirmed that the Central Bank of Nigeria (CBN) had acknowledged the information as fake news.
OPay expressed its intent to combat deliberate misinformation capable of causing fear, financial loss, or damage to confidence in the financial system. Akinfolabi Rokosu, Chief Legal Counsel of OPay, announced that the company was pursuing legal action against those responsible for creating and circulating the false information. Rokosu emphasized the company’s commitment to ensuring that the law takes its full course, with investigations being carried out by the Department of State Services (DSS) and the Nigeria Police Force.
Rokosu highlighted that the company’s actions were not aimed at preventing criticism or legitimate questions about its operations. “Th
is is not about silencing anyone. It is about accountability, customer protection, and respect for the rule of law,” he stated. OPay plans to initiate legal proceedings against individuals linked to the circulation of the false information, ensuring that the legal process aligns with the law.
The spread of false information raised concerns among industry stakeholders regarding the impact on the wider financial ecosystem. Olalekan Disu, Financial Secretary of the Association of Licensed Mobile Payment Operators (ALMPO) and an executive at eTranzact PLC, stressed the importance of trust in digital payments, warning that misinformation could discourage individuals and businesses from using digital payment platforms.
Stanley Jacobs, President of FintechNGR and Group Chief Innovation and Technology Officer (GCITO) at Meristem, also underscored the necessity of trust in Nigeria’s fintech ecosystem. He noted that misinformation about financial institutions could undermine public confidence, making accurate informa
tion and responsible communication essential.
During the Town Hall, OPay also reaffirmed its long-term commitment to Nigeria through investments in education, technology, and financial inclusion. The company highlighted its ?1.2 billion, 10-year scholarship commitment supporting students at tertiary institutions across Nigeria, aiming to reduce financial barriers to education.
OPay called on media, social media users, and the public to verify information before sharing or acting on claims concerning financial institutions. The company remained focused on providing reliable digital financial services, supporting businesses and consumers, and investing in young Nigerians, reaffirming its dedication to the continued development of Nigeria’s digital economy.