Fintech giant OPay has asked the Department of State Services and the Nigeria Police to investigate a viral message claiming the company is shutting down.
Speaking at a press conference in Lagos on Wednesday, September 2, 2026, OPay’s Chief Legal Counsel, Akinfolabi Rokosu, said the company involved security agencies because the false claim could disrupt Nigeria’s financial system and cause losses for customers.
The rumour spread on Sunday across WhatsApp and other platforms, urging users to withdraw their money ahead of a supposed shutdown starting September 1.
Rokosu said OPay is not closing and remains active in Nigeria. He confirmed the company has submitted evidence to investigators and will pursue legal action against those behind the message.
“OPay is not going to be silenced. Anyone who deliberately spreads this kind of harmful information should expect the full weight of the law,” he said.
OPay’s COO and CTO, Dotun Adekunle, also warned Nigerians against acting on unverified social media posts.
“A message can look official and still be completely false. A logo can be copied. Even if it is shared 200,000 times, falsehood does not become truth,” he said.
He added that the Central Bank of Nigeria has also debunked the rumour, and OPay’s services have continued without interruption.
The shutdown scare comes as OPay prepares for major growth. The company is reportedly planning a US IPO targeting a $4 billion valuation, with Citigroup, Deutsche Bank, and JPMorgan handling the deal. It is also considering a listing on the Nigerian Exchange.
According to OPay’s 2025 financials, Nigeria accounts for 88.1% of its revenue. The company processed $358 billion in gross transaction value last year, up from $166.2 billion in 2024.
OPay currently operates in Nigeria, Indonesia, Egypt, and Pakistan, with Nigeria as its biggest market.
