OPay Denies Shutdown Rumours, Says Nigerian Operations Fully Active

OPay has dismissed reports claiming that it is shutting down or suspending operations in Nigeria, assuring customers, merchants and employees that its services remain fully operational.

The fintech company addressed the rumours during a town hall meeting in Lagos on Wednesday, following days of social media posts urging customers to withdraw their funds from the platform.

OPay’s Chief Operating Officer and Chief Technology Officer, Dotun Adekunle, described the claims as false and said the message did not originate from the company.

He assured customers that they could continue using OPay for money transfers, bill payments and other services, while merchants could continue receiving payments without disruption.

Adekunle added that the Central Bank of Nigeria had also identified the circulating information as inaccurate.

Rather than scaling down its operations, he said OPay had continued to expand its presence across the country. According to him, the company currently has more than 7,000 employees in Nigeria and has opened over 26 new customer-support offices across various states this year.

He also disclosed that more than one million merchants and millions of customers currently use OPay’s services.

Adekunle said the company’s technology and operations teams closely monitored its systems on September 1 because of the shutdown rumours, but operations continued normally.

“We are here to stay. We are here to play,” he said.

OPay’s Chief Legal Counsel, Akinfolabi Moses Rokosu, said the company was working with regulators and law enforcement agencies to address the spread of the false information.

He disclosed that the Nigeria Police Force and other relevant agencies were investigating the matter, while OPay was cooperating with the authorities.

Rokosu also said the fintech had begun legal proceedings against individuals allegedly responsible for spreading the shutdown claims.

The company urged customers to rely only on official communication from OPay and warned them against sharing sensitive information, including PINs, passwords and one-time passwords (OTPs), with anyone claiming to represent the company.

The town hall followed reports that OPay had issued legal notices to three social media users over posts alleging that the fintech would shut down and advising customers to withdraw their funds.

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