A leading fintech company in Nigeria, Opay, has reaffirmed that it remains fully operational and has no plans to suspend or discontinue its operations in Nigeria, following a Live Town Hall held in Lagos on Wednesday to address misinformation circulating on social media about the company.

The town hall brought together OPay senior leadership, industry stakeholders, media representatives, and other key partners to provide clarity on the false claims and to reaffirm the company’s commitment to its customers, merchants, and the Nigerian economy.

Speaking at the event, the Chief Operating Officer and Chief Technology Officer, OPay, Dotun Adekunle, said, “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.”

Mr Adekunle noted that the false message claimed that OPay would stop operating from September 1. 

He pointed out that OPay remained fully operational on September 2, with its services continuing normally. 

He also urged Nigerians to verify information through OPay’s official communication channels before taking financial decisions based on messages shared online.

Mr Adekunle also confirmed that the Central Bank of Nigeria (CBN) acknowledged the information as fake news.

 OPay also made clear that it would not allow deliberate misinformation capable of causing fear, financial loss or damage to public confidence in the financial system to go unanswered.

Also, the Chief Legal Counsel, OPay, Akinfolabi Rokosu, stated, “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.”

Mr Rokosu noted that the State Security Service (SSS) and the Nigeria Police Force were investigating the matter and working to identify those responsible. OPay has provided relevant evidence to support the investigations.

He stressed that OPay’s action is not about preventing criticism or legitimate questions about the company.

“This is not about silencing anyone. It is about accountability, customer protection and respect for the rule of law,” he stated.

OPay said it would commence legal proceedings against individuals linked to the circulation of the false information and see the process through in accordance with the law.

The false information has also drawn concern from industry stakeholders, who stressed that misinformation about a licensed financial services provider could have consequences beyond the affected company.

Financial Secretary, Association of Licensed Mobile Payment Operators (ALMPO), and executive at eTranzact PLC, Olalekan Disu, said, “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.”

Mr Disu also stressed that there was a clear difference between legitimate scrutiny and deliberate misinformation.

“There is room to criticise and to ask difficult questions, but we must collectively guard against the creation and amplification of false information,” he added.

Besides, President, FintechNGR & Group Chief Innovation & Technology Officer (GCITO) at Meristem, Stanley Jacobs, said, “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.”

OPay used the town hall to reaffirm that its commitment to Nigeria goes beyond its day-to-day financial services. The company highlighted its ₦1.2 billion 10-year scholarship commitment, which supports students at tertiary institutions across Nigeria. 

The initiative is designed to reduce financial barriers to education and help talented young Nigerians remain focused on their studies.

The programme has already supported students across institutions, including the University of Ibadan, Ahmadu Bello University, Obafemi Awolowo University and the Lagos State University, among others. 

OPay has continued to extend the programme to additional institutions, with its broader OPay Scholars Programme now combining scholarships with innovation, skills development and career opportunities.

At the Obafemi Awolowo University (OAU), the partnership provides scholarship support to students over a 10-year period. The institution has firsthand experience of OPay’s commitment to education and youth development.

Speaking at the town hall, Professor Babajide Odu, Director, University Research Office, Obafemi Awolowo University, Prof. Babajide Odu, said, “OPay’s 10-year, ₦1.2 billion scholarship commitment is more than financial support; it is a long-term investment in the future of Nigerian students. At OAU, we have seen firsthand how this partnership is helping students pursue their education with greater confidence. Also, the support for our recently concluded 2026 Academic and Research Excellence Awards further reflects OPay’s commitment to academic excellence.”

The company said its continued investment in education, technology, financial inclusion and digital payments reflects its long-term commitment to Nigeria.

OPay reaffirmed that its customers and merchants could continue to use its services normally and should rely only on verified OPay communication channels for information about its operations.

The company also called on members of the public, media organisations and social media users to verify information before sharing or acting on claims concerning financial institutions.

OPay said it remains focused on providing reliable digital financial services, supporting businesses and consumers, investing in young Nigerians and playing its role in the continued development of Nigeria’s digital economy.