Fake shutdown claim: OPay vows to track down those behind report

OPay has said it will work with security agencies to find and prosecute those behind a false report claiming that the fintech company planned to shut down its operations in Nigeria.

Speaking in Lagos on Wednesday, OPay’s Chief Operating Officer and Chief Technology Officer, Dotun Adekunle, said the company had contacted regulators, security agencies and law enforcement authorities over the fake report.

Adekunle said the false information had caused concern among OPay customers and could damage trust in Nigeria’s digital financial services sector.

He said the report did not come from OPay and that the company had no plans to stop its operations in Nigeria.

“OPay is here. OPay is operating, and OPay is going nowhere. The message that is circulating online is false. It did not come from OPay,” Adekunle said.

He urged Nigerians not to make financial decisions based on unverified information shared on social media and messaging platforms.

Adekunle said OPay would do everything possible to identify those responsible for spreading the false information and ensure they face the law.

Also speaking, OPay’s Chief Legal Counsel, Akinfolabi Rokosu, said the company had formally reported the matter to relevant regulatory, security and law enforcement agencies.

Rokosu said the fake message was particularly serious because it was presented as an official communication from OPay. He said such information could create fear, cause financial losses and weaken public confidence in regulated financial institutions.

He disclosed that the Central Bank of Nigeria and other relevant regulators had confirmed that the information was false, while the Department of State Services and the Nigerian Police were investigating the matter.

According to him, OPay had provided evidence to assist investigators in identifying those behind the false report.

Rokosu also said the company had started legal proceedings against some of those allegedly involved in creating and spreading the information.

“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,” he said.

He explained that OPay’s action was not intended to stop criticism or prevent journalists and members of the public from asking questions about the company.

Instead, he said, the move was aimed at protecting customers, ensuring accountability and preventing the spread of information capable of causing harm.

Meanwhile, Olalekan Disu, an executive at eTranzact and Financial Secretary of the Association of Licensed Payment Operators of Nigeria, said false information about a major payment company could affect the entire digital payments industry.

Disu said trust was very important to digital payments because Nigerians depend on payment platforms to send and receive money, receive salaries, make purchases and save money.

He warned that false reports about one major company could make people lose confidence in the wider digital payment system.

He called on customers, businesses, journalists and social media influencers to verify financial information before sharing or acting on it.

Disu also urged media organisations to maintain high standards when reporting issues that could affect public confidence in financial institutions.

He said there was nothing wrong with criticising financial institutions or asking difficult questions, but warned against creating or spreading false information.

The association, he added, would continue working with the CBN, regulators, payment companies, the media and other stakeholders to strengthen trust and confidence in Nigeria’s digital payment system.