Security Agencies Investigate False Shutdown Claim Against OPay

The State Security Services (SSS) and the Nigeria Police Force are looking into a false message that claims OPay will shut down its operations in Nigeria. The company shared this information during a press conference and town hall meeting on Wednesday, in response to the viral message, which said OPay would stop operations in September.

Earlier, a post circulated widely on social media. This post claimed that OPay would shut down on 1 September and would not process transactions until further notice. It also urged OPay customers to withdraw their money quickly to avoid any problems.

OPay quickly rejected the claim in a post on X on Sunday. The company called the message false and confirmed that it would continue its operations.

On Monday, OPay reached out to accounts that shared the viral post. This included Adamu B. Garba (@adamugarba) on X and Viralgrabtvng (@viralgrabtvng) on TikTok. OPay asked them to remove the post, describing it as “false, malicious, libellous and defamatory.”

OPay is Not Shutting Down

During the press conference, OPay’s Chief Operating Officer and Chief Technology Officer, Dotun Adekunle, stated that the company is fully operational in Nigeria. He called the viral shutdown message false.

He mentioned that the message caused worry among customers, merchants, and others involved because OPay deals with financial inclusion. Many of its users are first-time users of digital financial services.

“OPay is going nowhere. The message that is circulating online is false. It did not come from OPay. There is no decision from OPay or by OPay to shut down its operations in Nigeria, and there is no indefinite leave.

“In fact, according to the false information itself, OPay was supposed to have shut down yesterday, 1 September. It is September 2, and we are still here. Our services continue to operate normally,” Mr Adekunle said.

He also stated that the Central Bank of Nigeria (CBN) has identified the viral message as fake news. He urged Nigerians to treat it seriously. The CBN is responsible for supervising Nigeria’s financial system.

Mr Adekunle advised customers not to make financial decisions based on unverified messages on social media. He warned that a message may look official but might not be from the company.

False information about a financial institution can create fear and disrupt businesses. It can also lower confidence in the larger financial system. OPay plans to work with the authorities to find and punish those responsible.

“Therefore, we will do everything in our power to make sure that we bring those who are responsible for this to book. We will chase them to wherever we can chase them to.

“OPay will continue to work with appropriate authorities and pursue the necessary steps to address deliberate attempts to spread false information and cause public concern.”

Investigations by Security Agencies

OPay’s Chief Legal Counsel, Akinfolabi Moses, said OPay has officially contacted the relevant regulatory, security, and law enforcement agencies about this issue. He added that the company is cooperating with the ongoing investigations.

He stated that the DSS, police, and other relevant agencies are looking into the source and spread of the message for necessary legal actions.

“OPay has therefore taken this matter beyond social media. We have formally engaged the relevant regulatory, security, and law enforcement authorities.

“The DSS and the Nigerian Police, among the relevant law enforcement agencies, are currently intensifying their investigation into this matter.

“We are fully cooperating with the ongoing investigations being conducted, and have provided the necessary evidence to identify those responsible for it,” OPay said.

Legal Action Against Those Responsible

The company also mentioned that it has begun legal action against those behind the false information. It plans to pursue those responsible and ensure that the law is followed.

“Let me be clear. OPay is taking legal action against those responsible for deliberately creating and circulating this callous information. We will pursue them, and we will ensure that the law takes its full course. There will be no impunity,” said OPay Legal Counsel Mr Moses.

He revealed that at least one case is already in court, adding that the company will share more details as the matter progresses.

Mr Moses emphasized that this issue is not about stopping criticism of the company. It is about ensuring accountability when false information is used to cause harm.

“This is not about silencing anymore. OPay is not going to be silent. It is about accountability, customer protection, and respect for the rule of law. We are ready, and we will ensure that the law takes its course,” he added.

Impact on the Digital Payment Ecosystem

The Financial Secretary of the Association of Licensed Mobile Payment Operators (ALMPO) also spoke about the situation. He said this issue goes beyond OPay because false information about a major payment operator can damage confidence in Nigeria’s digital payments.

He pointed out that trust is key to digital payments. Customers rely on financial institutions to protect their money and process transactions reliably.

“This is why the recent false information circulated online about OPay goes beyond one company. False information about a leading licensed payment operator can create unnecessary fear among customers and merchants if left unchallenged.

“It can weaken confidence in the wider digital payment ecosystem when people question the stability of a major player in the industry,” Mr Disu said.

He added that such misinformation could discourage people from using digital payments and affect businesses that rely on electronic transactions.

Mr Disu also urged customers to depend on official communication and information from regulators before acting on their funds. The association also called on the media to verify information before reporting on issues that could affect confidence in financial institutions.

The ALMPO representative, however, clarified that the industry’s stance should not be seen as opposition to scrutiny or criticism of financial institutions.