OPay Debunks Shutdown Rumour, Says Services Fully Operational in Nigeria

Leading Nigerian fintech company OPay has dismissed viral reports suggesting that it plans to shut down its operations in Nigeria, describing the claims as false and misleading.

The company made the clarification on Wednesday, September 2, 2026, during a live town hall in Lagos attended by OPay executives, fintech industry representatives, media organisations, legal experts and other stakeholders.

OPay Chief Operating Officer and Chief Technology Officer, Dotun Adekunle, said there was no plan to suspend the company’s operations or place its services on indefinite leave. He said a message circulating online had falsely claimed that OPay would stop operating from September 1.

Adekunle said OPay’s major services, including money transfers, bill payments, merchant collections and card transactions, continued to operate normally on September 2. He urged customers to rely on the company’s verified platforms and official communication channels when checking information about its operations.

He also said the Central Bank of Nigeria had acknowledged the shutdown claim as fake news, warning that misinformation about a financial institution could trigger panic and potentially cause financial losses.

OPay’s Chief Legal Counsel, Akinfolabi Rokosu, said the company had begun taking legal steps against individuals and groups allegedly responsible for creating and spreading the false claims. He said petitions had been submitted to the Department of State Services and the Nigeria Police Force, with investigations underway.

Rokosu stressed that the legal action was not intended to prevent legitimate criticism of the company. He said OPay welcomed genuine questions but would challenge what it described as deliberate misinformation capable of damaging customer confidence.

The controversy also prompted warnings from industry stakeholders. Olalekan Disu, Financial Secretary of the Association of Licensed Mobile Payment Operators and an executive at eTranzact, said false claims about major fintech companies could undermine public confidence in digital payments and reverse some of the progress made in expanding financial inclusion.

FintechNGR President and Meristem Group Chief Innovation and Technology Officer, Stanley Jacobs, similarly called for responsible communication, saying trust was critical to the continued growth of Nigeria’s fintech sector.

Beyond the shutdown controversy, OPay used the town hall to highlight its education initiatives, including a reported ₦1.2 billion, 10-year scholarship programme for students in Nigerian tertiary institutions. The programme currently covers students at several universities and includes tuition support, skills development, innovation challenges and career mentorship.

The company said it would expand the scholarship programme to additional universities and polytechnics. It also reiterated its commitment to its more than 40 million customers and over 500,000 merchants, assuring users that its services remained operational and that it continued to invest in cybersecurity, fraud detection and customer support.

OPay urged customers and members of the public to verify financial information through its official channels before acting on or sharing claims circulating on social media.