OPay Breaks Silence as Nigerians Identify Alleged Sources of Viral Shutdown Rumour
- OPay has finally addressed the alleged shutdown rumours spreading on social media, calling the report false and incorrect
- The company disclosed that it is not going anywhere and that customers' funds are intact, saying that users should verify information via its official channels
- Meanwhile, Nigerians have pointed accusing fingers at traditional banks for the rumour, although there is no evidence showing that the banks are responsible for the negative report
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Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
OPay has moved to reassure millions of Nigerian customers after a viral social media publication claimed the fintech company would suspend operations from September 1, 2026.
The claim, which circulated widely across social media and messaging platforms, reportedly urged customers to withdraw or transfer their funds before an alleged prolonged shutdown.
However, OPay has firmly rejected the report, describing it as false, malicious and misleading. The company said it remains fully operational and has no plans to shut down.
Source: UGC
OPay: ‘We’re going nowhere’
In a statement shared through its verified social media platforms, OPay urged customers and members of the public to disregard the viral publication.
The fintech said: “OPay is not going on break by September. We’re here, and we’re going nowhere!”
The company also encouraged users to scrutinise the viral message for inconsistencies and red flags, stressing that genuine announcements should be obtained through its verified communication channels.
OPay’s Vice President, Public and Government Affairs, Maxwell Loko, separately described the publication as false, malicious and misleading.
He cautioned customers against withdrawing or transferring their funds based on the fabricated claim and urged Nigerians to rely on authenticated OPay platforms for information concerning the company.
Nigerians question who started the rumour
The latest controversy has triggered a wider debate online, with some Nigerians speculating about who could be behind the publication.
Some social media users have accused traditional financial institutions and competitors of attempting to undermine the growing influence of fintech companies such as OPay, PalmPay and Moniepoint.
One TikTok user, Ola of Aba, argued that traditional banks should focus on improving their services instead of allegedly targeting fintech platforms that have attracted millions of customers.
He claimed that poor customer experiences with some conventional banks had pushed Nigerians towards digital payment platforms.
However, there is currently no publicly established evidence identifying the source of the viral OPay publication or proving that Nigerian banks or any particular financial institution was responsible. Such allegations therefore remain speculation.
Not the first OPay shutdown scare
The latest incident is not the first time OPay has been forced to confront damaging shutdown claims.
In November 2025, the fintech dismissed social media reports alleging that customer accounts had been wiped, deposits lost and its operations suspended.
OPay described those claims as “false, malicious, and misleading”, assuring customers that their accounts and deposits remained safe, intact and accessible.
The company again finds itself battling misinformation as the latest September shutdown claim spreads across Nigeria.
Source: Twitter
Customers urged to verify before acting
The renewed rumour highlights the risks of unverified financial information spreading rapidly online.
A false shutdown claim involving a major payment platform can trigger unnecessary panic, encourage customers to make hurried financial decisions and potentially undermine confidence in digital financial services.
For now, OPay says its operations remain active, and customers can continue using its services.
The fintech has urged Nigerians to verify financial and operational claims through its official communication channels rather than relying on viral posts, forwarded messages or unverified social media accounts.
Africa’s biggest bank to acquire stakes in Opay
Legit.ng earlier reported that Standard Bank Group, Africa’s biggest banking group by assets, is considering acquiring a stake in Nigerian fintech company OPay as the digital payments giant prepares for a potential listing in the United States.
The proposed investment would give the South African banking group exposure to one of Nigeria’s leading digital financial services platforms ahead of its expected entry into the public markets.
Source: Legit.ng
