By Ayomide Otitoju
OPay has dismissed reports that it plans to suspend or discontinue its operations in Nigeria, saying the fintech remains fully operational.
The company made the clarification during a town hall in Lagos on Wednesday, convened to address misinformation circulating on social media about its operations.
The event brought together OPay’s senior management, industry stakeholders, media representatives and partners to counter the claims and reaffirm the company’s commitment to its customers, merchants and the Nigerian economy.
Speaking at the event, OPay’s Chief Operating Officer and Chief Technology Officer, Dotun Adekunle, said the reports were false.
“OPay is here, OPay is operating, and OPay is going nowhere,” Adekunle said. “There is no decision by OPay to shut down its operations in Nigeria, and there is no indefinite leave.”
Adekunle said social media posts had falsely claimed that the company would cease operations from September 1.
He said OPay remained fully operational on September 2, with all its services running normally, and urged customers to rely on the company’s official communication channels when seeking information.
He added that the Central Bank of Nigeria had also described the reports as fake news.
OPay said it would not ignore deliberate misinformation capable of causing panic, financial losses or undermining public confidence in Nigeria’s financial system.
The company’s Chief Legal Counsel, Akinfolabi Rokosu, said OPay had begun legal action against those allegedly responsible for creating and circulating the false information.
“We will pursue them and ensure that the law takes its full course. There will be no impunity,” Rokosu said.
He disclosed that the Department of State Services and the Nigeria Police Force were investigating the matter and working to identify those behind the reports. According to him, OPay had provided relevant evidence to support the investigations.
Rokosu stressed that the company’s legal action was not intended to suppress criticism.
“This is not about silencing anyone. It is about accountability, customer protection, and respect for the rule of law,” he said.
OPay said it would pursue legal proceedings against individuals linked to the misinformation and see the process through in accordance with the law.
Industry stakeholders at the town hall also warned that false claims about licensed financial institutions could undermine confidence in Nigeria’s broader digital payments ecosystem.
Olalekan Disu, Financial Secretary of the Association of Licensed Mobile Payment Operators and an executive at eTranzact Plc, said trust remained fundamental to digital payments.
He said misinformation about a major industry player could weaken confidence in the wider sector and discourage individuals and businesses from using digital payment services.
Disu said legitimate criticism and malicious rumours should be distinguished, noting that stakeholders should remain open to scrutiny while working collectively to prevent the spread of false information.
Similarly, the President of FintechNGR and Group Chief Innovation and Technology Officer at Meristem, Stanley Jacobs, said trust was critical to the growth of Nigeria’s fintech industry.
Jacobs stressed the importance of accurate information and responsible communication to protect confidence in financial institutions.
Beyond its financial services, OPay used the town hall to highlight its investments in education, technology and financial inclusion.
The company said it had committed ₦1.2 billion to a 10-year scholarship programme for tertiary students across Nigeria.
The initiative has benefited students at institutions including the University of Ibadan, Ahmadu Bello University, Obafemi Awolowo University and Lagos State University.
OPay said its expanded Scholars Programme combines financial assistance with innovation training, skills development and career opportunities.
At Obafemi Awolowo University, the company’s 10-year scholarship partnership has been credited with helping students continue their education.
The university’s Director of Research Office, Prof. Babajide Odu, described the initiative as a long-term investment in Nigerian students and said OPay’s support for the institution’s 2026 Academic and Research Excellence Awards further demonstrated its commitment to academic excellence.
OPay said its investments in education, technology, financial inclusion and digital payments reflected its long-term commitment to Nigeria.
Established in 2018, OPay is a Nigerian fintech company focused on expanding financial inclusion through technology.
The company said it is licensed by the Central Bank of Nigeria and insured by the Nigeria Deposit Insurance Corporation, with commercial bank-level coverage.
