OPay, a leading fintech company in Nigeria, has reaffirmed that it remains fully operational and has no plans to suspend or discontinue its operations in the country.
The company made this clarification during a Live Town Hall held in Lagos on Wednesday, September 2, 2026, to address misinformation circulating on social media about its operations.
The Town Hall brought together OPay’s senior leadership, industry stakeholders, media representatives and other key partners to clarify the false claims and reaffirm the company’s commitment to its customers, merchants and the Nigerian economy.
Speaking at the event, Dotun Adekunle, Chief Operating Officer and Chief Technology Officer of OPay, said:
“OPay is here, OPay is operating, and OPay is going nowhere. The message circulating online is false. There is no decision by OPay to shut down its operations in Nigeria, and there is no indefinite leave.”
Adekunle explained that the false message had claimed OPay would stop operating from September 1. However, he noted that the company remained fully operational on September 2, with its services continuing normally.
He also urged Nigerians to verify information through OPay’s official communication channels before making financial decisions based on messages shared online.
Adekunle further confirmed that the Central Bank of Nigeria (CBN) had acknowledged the information as fake news.
OPay also stated that it would not allow deliberate misinformation capable of causing fear, financial loss or damage to public confidence in the financial system to go unanswered.
OPay Takes Legal Action Over False Information
Akinfolabi Rokosu, Chief Legal Counsel at OPay, said the company was taking legal action against those responsible for creating and circulating the false information.
“OPay is taking legal action against those responsible for deliberately creating and circulating this false information. We will pursue them and ensure that the law takes its full course. There will be no impunity,” Rokosu said.
He confirmed that the Department of State Services (DSS) and the Nigeria Police Force are investigating the matter and working to identify those responsible. OPay has provided relevant evidence to support the investigations.
Rokosu stressed that the company’s actions were not intended to prevent criticism or legitimate questions about OPay.
“This is not about silencing anyone. It is about accountability, customer protection and respect for the rule of law,” he continued.
OPay said it would commence legal proceedings against individuals linked to the circulation of the false information and would pursue the process in accordance with the law.
Industry Stakeholders Warn About Impact of Misinformation
The false information has also raised concerns among industry stakeholders, who stressed that misinformation involving a licensed financial services provider can have consequences beyond the affected company.
Olalekan Disu, Financial Secretary of the Association of Licensed Mobile Payment Operators (ALMPO) and an Executive at eTranzact PLC, said trust remains fundamental to the digital payments industry.
“Trust is the foundation of digital payments. False information about a major player can weaken confidence in the wider industry and discourage people and businesses from using digital payments,” Disu said.
He also highlighted the distinction between legitimate scrutiny and deliberate misinformation.
“There is room to criticise and to ask difficult questions, but we must collectively guard against the creation and amplification of false information,” he continued.
Stanley Jacobs, President of FintechNGR and Group Chief Innovation & Technology Officer (GCITO) at Meristem, also stressed the importance of trust within Nigeria’s fintech ecosystem.
“Trust is crucial to the growth of Nigeria’s fintech ecosystem. Misinformation about financial institutions can undermine that trust, making accurate information and responsible communication essential,” Jacobs said.
OPay Highlights Commitment to Education and Financial Inclusion
Beyond addressing the misinformation, OPay used the Town Hall to reaffirm that its commitment to Nigeria extends beyond its day-to-day financial services.
The company highlighted its ₦1.2 billion, 10-year scholarship commitment, which supports students at tertiary institutions across Nigeria. The initiative is aimed at reducing financial barriers to education and helping talented young Nigerians remain focused on their studies.
The programme has already supported students at institutions including the University of Ibadan, Ahmadu Bello University, Obafemi Awolowo University and Lagos State University, among others.
OPay has continued to extend the programme to additional institutions, with its broader OPay Scholars Programme now combining scholarships with innovation, skills development and career opportunities.
At Obafemi Awolowo University (OAU), the partnership provides scholarship support to students over a 10-year period. The institution has firsthand experience of OPay’s commitment to education and youth development.
Speaking at the Town Hall, Professor Babajide Odu, Director of the University Research Office at Obafemi Awolowo University, said:
“OPay’s 10-year, ₦1.2 billion scholarship commitment is more than financial support; it is a long-term investment in the future of Nigerian students. At OAU, we have seen firsthand how this partnership is helping students pursue their education with greater confidence. Also, the support for our recently concluded 2026 Academic and Research Excellence Awards further reflects OPay’s commitment to academic excellence.”
The company said its continued investment in education, technology, financial inclusion and digital payments reflects its long-term commitment to Nigeria.
OPay reaffirmed that its customers and merchants can continue to use its services normally and advised them to rely only on verified OPay communication channels for information about the company’s operations.
The fintech company also called on members of the public, media organisations and social media users to verify information before sharing or acting on claims concerning financial institutions.
OPay said it remains focused on providing reliable digital financial services, supporting businesses and consumers, investing in young Nigerians and contributing to the continued development of Nigeria’s digital economy.
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