OPay has denied claims that it is shutting down operations in Nigeria, describing a viral message to that effect as false and confirming that the State Security Service (SSS) and the Nigeria Police Force are investigating those behind its circulation.
Speaking at a press conference and town hall meeting on Wednesday, OPay’s Chief Operating Officer and Chief Technology Officer, Dotun Adekunle, said the fintech company remained fully operational and had not made any decision to cease business in the country or place staff on indefinite leave.
The viral post, which surfaced at the weekend, claimed OPay would shut down operations on 1 September and stop processing transactions until further notice. It also urged customers to withdraw their funds immediately to avoid inconvenience.
Adekunle dismissed the claim, noting that the very post predicting a 1 September shutdown had already been disproved by OPay’s continued operations a day later. He said the Central Bank of Nigeria (CBN) had also identified the message as fake news, and urged Nigerians to disregard it. He cautioned customers against making financial decisions based on unverified messages, warning that such messages could look official without originating from the company.
OPay had earlier debunked the claim on X on Sunday and, on Monday, formally demanded that accounts linked to its spread — including Adamu B. Garba (@adamugarba) on X and Viralgrabtvng on TikTok — take down the publication, which it described as false, malicious and defamatory.
The company’s Chief Legal Counsel, Akinfolabi Moses, said OPay had engaged the DSS, police and other law enforcement agencies, providing evidence to help identify those responsible. He confirmed that legal action was already before the court, with more cases expected to follow.
“This is not about silencing anyone,” Moses said. “It is about accountability, customer protection, and respect for the rule of law.”
Also speaking, the Financial Secretary of the Association of Licensed Mobile Payment Operators (ALMPO), Olalekan Disu, said false claims about a major payment operator could undermine confidence across Nigeria’s digital payments ecosystem, warning that unchecked misinformation could discourage digital payment adoption and hurt merchants who depend on electronic transactions. He urged the media to maintain high standards of verification on stories capable of shaking confidence in financial institutions, while stressing that this was not a call to shield companies from legitimate scrutiny.
The incident adds to a growing pattern of Nigerian brands being targeted by impersonation and misinformation campaigns on social media, including AI-generated fraudulent adverts reported by PREMIUM TIMES in July.
Founded in 2018, OPay has grown into one of Nigeria’s leading digital financial platforms, offering payments, savings and credit services, with operations extending beyond Nigeria into markets including Indonesia, Pakistan and Egypt.
READ ALSO:
- Apple Unveils First Foldable iPhone, iPhone Duo
- Dauda Lawal’s Infrastructure Agenda for Zamfara State | By Karen Ibrahim
- Kara Bridge Repairs Trigger Days-Long Gridlock on Lagos-Ibadan Expressway
- UK Awards 68 Nigerians Chevening, Commonwealth Scholarships for 2026
- Bella Shmurda Opens Up on Theft That Financed His Music Dream
