The Department of State Services (DSS) and the Nigeria Police Force have launched investigations into the circulation of a false message claiming that OPay would shut down its operations in Nigeria.
OPay made this known on Wednesday during a press conference and town hall meeting organised to address concerns generated by the viral message.
The message, which circulated widely on social media, claimed that OPay would stop operating from September 1 and suspend transaction services indefinitely. It also urged customers to withdraw their funds from the platform.
OPay has dismissed the claim as false, assuring customers, merchants and other stakeholders that its operations remain fully active.
The company’s Chief Operating Officer and Chief Technology Officer, Dotun Adekunle, said there was no plan by the fintech company to leave the Nigerian market.
“OPay is going nowhere. The message circulating online is false. It did not come from OPay. There is no decision by OPay to shut down its operations in Nigeria, and there is no indefinite leave,” Adekunle said.
He pointed out that the claim had stated that the company would shut down on September 1, but OPay continued to provide its services normally on September 2.
Adekunle said the false report had created unnecessary anxiety among customers and merchants, particularly because many Nigerians depend on OPay for everyday financial transactions.
He also disclosed that the Central Bank of Nigeria had identified the message as fake news, urging Nigerians to rely on verified information from OPay and authorised regulatory channels before making financial decisions.
According to him, misinformation about a financial institution could cause panic, disrupt businesses and weaken confidence in the country’s financial system.
DSS, Police Begin Investigation
OPay’s Chief Legal Counsel, Akinfolabi Moses, said the company had reported the matter to relevant regulatory, security and law enforcement agencies.
He confirmed that the DSS and Nigeria Police were investigating the source and distribution of the message, with OPay providing evidence to assist in identifying those responsible.
Moses said the company had also begun legal proceedings against individuals allegedly involved in creating and circulating the false information.
He disclosed that at least one case had already reached the court, adding that OPay would continue to pursue the matter through lawful channels.
“This is not about silencing criticism. It is about accountability, customer protection and respect for the rule of law,” Moses said.
He warned that deliberate attempts to spread false information about financial institutions would not be treated lightly.
OPay Demands Action Against Those Behind False Claim
OPay had earlier contacted some social media accounts linked to the circulation of the message and demanded that the publications be removed.
The company described the material as false, malicious, libellous and defamatory.
Adekunle said OPay would continue to work with the relevant authorities to ensure that those responsible were identified and prosecuted.
Industry Group Warns of Impact on Digital Payments
The Financial Secretary of the Association of Licensed Mobile Payment Operators (ALMPO), Olalekan Disu, said the incident was not only an OPay issue but also a threat to confidence in Nigeria’s digital payment ecosystem.
Disu explained that customers must have confidence that licensed payment platforms are stable and capable of protecting their funds and processing transactions.
He warned that false reports about major financial technology companies could cause panic among customers and merchants, discourage digital payment adoption and affect businesses that rely heavily on electronic transactions.
He urged Nigerians to verify sensitive financial information through official company channels and regulatory authorities before taking action.
The association also called on media organisations to properly verify information before publishing reports capable of affecting public confidence in financial institutions.
However, Disu stressed that the industry remained open to legitimate criticism and scrutiny, saying the concern was with deliberate misinformation and the amplification of unverified claims.
OPay, established in 2018, has become one of Nigeria’s major digital financial services providers, offering payment, savings, credit and other financial services.
The company has maintained that its Nigerian operations remain active and that customers should disregard the viral shutdown message.
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