How Hackers Hit my OPay, Moniepoint Accounts, Oshiomhole Recounts Ordeal as Opay Responds
- The erstwhile governor Edo State, Adams Oshiomhole, has recounted his ordeal with hackers who accessed his two accounts
- The Edo Senator disclosed that his OPay and Moniepoint accounts were breached by hackers who siphoned his funds
- He called for a tougher fintech regulations, as OPay debunked viral reports that it has shut down operations in Nigeria
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Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The former governor of Edo State, Adams Oshiomhole, has shared how hackers gained access to his mobile money accounts, raising fresh concerns about the safety of digital financial platforms.
Speaking during a Senate debate on amendments to the Banks and Other Financial Institutions Act, the Edo North lawmaker urged the National Assembly to strengthen oversight of fintech companies that operate outside the traditional banking framework.
Source: Twitter
How hackers accessed my OPay, moniepoint accounts
Oshiomhole said the upper chamber must not only support new regulations but scrutinize them closely to close loopholes exploited by criminals using digital financial tools.
The senator explained that his personal brush with cyber fraud exposed major weaknesses in Nigeria’s fast-growing fintech sector.
According to him, scammers routed their operations entirely through mobile money platforms.
“When they hacked into my account, I found that all the institutions used were OPay and Moniepoint.
None of the registered banks were used,” he told lawmakers. He added that these operators often lack physical branches, do not employ large local staff, and seldom participate in social responsibility initiatives.
Calls for stricter fintech regulation in Nigeria
Oshiomhole argued that the proposed amendments will help ensure that tech-driven financial institutions meet basic operational and regulatory standards.
He pointed out that while the leadership of major commercial banks is known and traceable, the same transparency does not exist across some fintech companies.
“For example, I know all the directors of First Bank, Access Bank, Zenith Bank. I don’t know the directors of OPay or Moniepoint,” he said.
He warned that if any of these major fintech players suddenly collapsed, the federal government would ultimately bear the burden of compensating affected Nigerians.
The senator insisted that the government has a duty to protect citizens and that Acts of the National Assembly carry more enforceable weight than Central Bank regulations.
According to a report by TheCable, after the debate, the bill sponsored by Senator Tokunbo Abiru passed its second reading.
OPay responds to viral shutdown rumours
Meanwhile, OPay has released an official statement dismissing claims that the company had shut down or lost customer funds.
The fintech firm described the circulating reports as false, malicious and without evidence.
In a post on its verified X account, OPay said its operations remain stable, its systems are secure, and customer funds are intact.
The company urged users to ignore misleading content designed to create panic.
Customer funds safe, OPay assures Nigerians
OPay explained that there has been no system failure or financial incident capable of wiping account balances.
It acknowledged that some users experienced a brief downtime earlier in the week, but the issue was resolved within minutes. The company stressed that such temporary disruptions are normal for digital platforms and do not indicate a collapse.
OPay highlights regulatory oversight and deposit protection
The fintech platform reminded users that it is fully licensed by the Central Bank of Nigeria and that customer deposits are insured by the Nigeria Deposit Insurance Corporation.
These regulatory structures, the company said, offer additional assurance that users’ funds remain safe.
Source: UGC
OPay reiterated that it continues to comply with strict financial rules governing licensed operators and remains financially solid. It also restated its commitment to providing secure digital payment services to millions of Nigerians.
FG begins N50 EMTL charges on Opay
Legit.ng earlier reported that the Nigerian government has begun deducting the N50 electronic transfer levy (EMTL) from transactions of N10,000 and above made by fintech firm users.
The fintech firms include Opay, Moniepoint, Palmpay, Kuda Bank, and other digital payment platforms.
The Nigerian government introduced the EMTL under the 2020 Finance Act. It imposed a single, one-off levy of N50 or above on electronic transfer transactions made by banks and other financial institutions.
Source: Legit.ng
