By Babajide Awoyinfa
OPay, a Nigerian fintech company, has reaffirmed its continued operations in Nigeria, dismissing reports that it plans to shut down.
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, OPay, said 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.
“There is no decision by OPay to shut down its operations in Nigeria, and there is no indefinite leave,” he added.
Adekunle said the false message claimed that OPay would stop operating from Sept. 1.
He said the company remained fully 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 said it would not allow deliberate misinformation capable of causing fear, financial loss or damage to confidence in the financial system to go unanswered.
Akinfolabi Rokosu, Chief Legal Counsel, 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,” Rokosu said.
“We will pursue them and ensure that the law takes its full course. There will be no impunity,” he added.
Rokosu said the Department of State Services (DSS) and the Nigeria Police Force were investigating the matter and working to identify those responsible.
He said OPay had provided relevant evidence to support the ongoing investigations.
He stressed that the company’s action was not aimed at preventing criticism or legitimate questions about its operations.
“This is not about silencing anyone. It is about accountability, customer protection and respect for the rule of law,” he said.
Rokosu said OPay would begin legal proceedings against individuals linked to the circulation of the false information.
He added that the company would see the legal process through in accordance with the law.
The false information also raised concerns among industry stakeholders, who said misinformation about licensed financial institutions could affect the wider financial ecosystem.
Olalekan Disu, Financial Secretary, Association of Licensed Mobile Payment Operators (ALMPO), and an executive at eTranzact PLC, said trust remained fundamental to digital payments.
“Trust is the foundation of digital payments. False information about a major player can weaken confidence in the wider industry,” Disu said.
He said such misinformation could also discourage individuals and businesses from using digital payment platforms.
Disu stressed that there was a clear 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 said.
Stanley Jacobs, President, FintechNGR, and Group Chief Innovation and Technology Officer (GCITO), Meristem, also stressed the importance of trust in Nigeria’s fintech ecosystem.
“Trust is crucial to the growth of Nigeria’s fintech ecosystem,” Jacobs said.
He said misinformation about financial institutions could undermine public confidence, making accurate information and responsible communication essential.
OPay also used the Town Hall to reaffirm 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.
OPay said the initiative was designed to reduce financial barriers to education and help talented young Nigerians remain focused on their studies.
The programme has supported students at institutions including the University of Ibadan, Ahmadu Bello University, Obafemi Awolowo University and Lagos State University.
The company said it had continued to extend the programme to additional institutions through its broader OPay Scholars Programme.
The programme combines scholarships with innovation, skills development and career opportunities for beneficiaries.
At Obafemi Awolowo University (OAU), the partnership provides scholarship support to students over a 10-year period.
The institution said it had witnessed OPay’s commitment to education and youth development through the partnership.
Speaking at the Town Hall, Prof. Babajide Odu, Director, University Research Office, OAU, described the scholarship initiative as a long-term investment in Nigerian students.
“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,” Odu said.
“At OAU, we have seen firsthand how this partnership is helping students pursue their education with greater confidence,” he added.
Odu also noted that OPay’s support for the university’s recently concluded 2026 Academic and Research Excellence Awards demonstrated its commitment to academic excellence.
OPay said its continued investment in education, technology, financial inclusion and digital payments reflected its long-term commitment to Nigeria.
The company reaffirmed that customers and merchants could continue using its services normally.
It urged customers and the public to rely only on verified OPay communication channels for information about its operations.
OPay also called on the media, social media users and members of the public to verify information before sharing or acting on claims concerning financial institutions.
The company said it remained focused on providing reliable digital financial services, supporting businesses and consumers, and investing in young Nigerians.
It also reaffirmed its commitment to supporting the continued development of Nigeria’s digital economy. (NAN)
BAG/FAA
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Edited by Folasade Adeniran