OPay has dismissed reports that it plans to suspend or discontinue its operations in Nigeria, describing the claims circulating on social media as false and assuring customers and merchants that its services remain fully operational.
The fintech company gave the assurance at a town hall held in Lagos on Wednesday attended by our correspondent, where its senior executives, industry stakeholders, media representatives and other partners addressed the misinformation surrounding its operations.
Chief Operating Officer and Chief Technology Officer, OPay, Dotun Adekunle, said there was no plan by the company to shut down its Nigerian operations or proceed on an indefinite leave.
“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 said.
The false message had claimed that OPay would cease operations from September 1. However, the company said its services continued normally on September 2.
Adekunle urged Nigerians to verify information through OPay’s official communication channels before acting on claims that could affect their finances.
He added that the Central Bank of Nigeria had acknowledged the circulating information as fake news.
The company also disclosed that it was taking legal steps against those allegedly responsible for creating and circulating the false information.
OPay’s Chief Legal Counsel, Akinfolabi Rokosu, said the company would pursue those responsible and ensure that the law took its course.
“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 disclosed that the Department of State Services and the Nigeria Police Force were investigating the matter and working to identify those behind the messages.
According to him, OPay had supplied relevant evidence to aid the investigations and would commence legal proceedings against individuals linked to the circulation of the claims.
Rokosu, however, stressed that the action was not aimed at preventing criticism or legitimate scrutiny of the company.
“This is not about silencing anyone. It is about accountability, customer protection and respect for the rule of law,” he said.
Industry stakeholders at the event also warned about the wider implications of misinformation involving financial institutions.
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Financial Secretary, Association of Licensed Mobile Payment Operators, Olalekan Disu, who is also an executive at eTranzact Plc, said false information could undermine confidence in the digital payments ecosystem.
“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 said while stakeholders and members of the public had the right to criticise companies and ask difficult questions, deliberate misinformation should not be created or amplified.
Similarly, the President of FintechNGR and Group Chief Innovation and Technology Officer at Meristem, Stanley Jacobs, said maintaining trust was critical to the growth of Nigeria’s fintech sector.
“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.
Beyond addressing the shutdown rumours, OPay used the town hall to highlight its continued investment in Nigeria, particularly in education, technology and financial inclusion.
The company said it had committed N1.2bn to a 10-year scholarship programme supporting students in tertiary institutions across the country.
It said beneficiaries had been drawn from institutions including the University of Ibadan, Ahmadu Bello University, Obafemi Awolowo University and Lagos State University, among others.
The initiative has also expanded under the OPay Scholars Programme to incorporate innovation, skills development and career opportunities, according to the company.
Speaking on the partnership with OAU, the institution’s Director, University Research Office, Prof Babajide Odu, said OPay’s scholarship commitment represented a long-term investment in Nigerian youths.
“OPay’s 10-year, N1.2bn scholarship commitment is more than financial support; it is a long-term investment in the future of Nigerian students,” Odu said.
He added that the company’s support for OAU students and its recently concluded 2026 Academic and Research Excellence Awards 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.
The fintech firm urged customers, merchants, media organisations and social media users to rely on verified communication channels and confirm claims before sharing or acting on information concerning financial institutions.
It reiterated that its customers and merchants could continue to use its services normally.
