From Drivers to Market Traders: How OPay Is Bringing Financial Services Closer to Nigerians
For a commercial driver, receiving payment on a phone can mean having enough money to buy fuel and continue working. For a market trader, a bank transfer can help pay a supplier without leaving the shop. And for a family sending money to a loved one, a digital transaction can save the time and cost of travelling.
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These everyday situations show what financial inclusion should mean: giving people practical ways to receive, send and manage money, regardless of their income or where they live.
OPay is among the companies helping bring financial services closer to Nigerians through digital payments and other financial products. However, as more people gain access to these services, the challenge is ensuring that access translates into real economic benefits.
More Nigerians are using financial services
Nigeria is making progress in expanding financial inclusion. The 2026 Access to Financial Services in Nigeria survey by Enhancing Financial Innovation and Access (EFInA) found that 79% of adults, representing about 94.2 million people, used a financial product or service.
Formal financial inclusion reached 73%, up from 64% in 2023, while financial exclusion fell from 26% to 21%. Digital financial services also recorded growth, reaching 64.4% of adults, compared with 45% in 2023.
Despite this progress, access does not automatically mean financial security. EFInA found that three in four Nigerian adults are not financially healthy. Formal credit reaches only 10% of adults, while insurance coverage stands at 5%.
These gaps show why financial inclusion must go beyond opening accounts and making transfers. People also need services that help them save, manage risks and support their livelihoods.
How OPay makes everyday transactions easier
Since beginning operations in Nigeria in 2018, OPay has provided digital financial services to individuals and businesses. Its offerings include money transfers, mobile payments, bill payments, savings, debit cards and merchant services.
Through its mobile platform, customers can complete many transactions without visiting a bank branch. This can be particularly useful for people who live far from banking facilities or cannot afford to spend hours travelling to access financial services.
Reliability is equally important. A failed transfer can delay a purchase, disrupt business or leave a customer uncertain about their money.
According to company disclosures, more than 99% of transactions initiated on OPay's app were completed successfully on the first attempt in the first half of 2026. The company has also highlighted efforts to make its technology usable on different phones, including entry-level devices, and under unstable network conditions.
Small businesses gain more ways to collect payments
For small business owners, time spent handling payments is time that could be used to serve customers, restock goods or manage other aspects of the business.
Digital payment services provide another way to collect money and keep transactions moving. They can also help businesses serve customers who prefer cashless payments.
OPay reported having more than one million merchants and businesses on its network as of June 2026. Eligible merchants who provide financial services can also earn commissions, creating an additional income opportunity.
For shops, food sellers and neighbourhood businesses, these services can simplify daily transactions and provide new ways to earn. While digital payments cannot solve every challenge facing small businesses, they can make collecting money more convenient.
Creating jobs and building customer trust
Financial inclusion also extends beyond transactions. OPay has publicly stated that 99% of its workforce in Nigeria is Nigerian. Its operations involve roles in technology, customer support, compliance, sales and other areas, while its merchant and agent network creates additional income opportunities.
However, the benefits of digital finance depend partly on customer trust. Someone with a delayed transfer needs clear information, while a trader facing a failed payment needs practical assistance.
Customers also need guidance on protecting their accounts against fraud. Clear communication, accessible support and timely complaint resolution can encourage people to use digital financial services with greater confidence.
For OPay and other providers, reliable customer service and strong security measures are essential to making financial inclusion sustainable.
Balancing digital payments with cash access
Although digital payments are expanding, cash remains important to many Nigerians, particularly in communities where internet access, electricity or digital payment facilities may be limited.
The Central Bank of Nigeria's new ATM guidelines require card issuers to deploy at least one automated teller machine for every 7,500 payment cards issued, with full compliance due by 2028.
While improving access to cash remains important, financial inclusion policies must also recognise the growing use of mobile payments and nearby merchant services. Card ownership alone may not fully reflect how people access their money.
ATMs, digital platforms and agent networks serve different needs. Supporting their effective coexistence can help customers choose the most convenient option without being excluded from essential financial services.
Turning financial access into real-life benefits
Deepening financial inclusion requires cooperation among regulators, financial institutions, technology companies and businesses. Affordable transactions, dependable services, accessible customer support and practical identity verification processes can help more Nigerians participate in the formal financial system.
At the launch of Payments System Vision 2028, the CBN outlined its ambition for a secure, inclusive and innovative payment system, with collaboration and interoperability among its guiding principles.
For OPay, the opportunity lies in turning technology into practical value through reliable payments, merchant support, accessible financial services and local employment.
Ultimately, financial inclusion should be measured by more than the number of accounts opened or transactions completed. It should also reflect whether people can use financial services to earn a living, grow their businesses, build savings and manage unexpected expenses.
When a driver receives payment without interrupting a day's work, a trader collects money and continues serving customers, or a family sends funds when they are needed, financial inclusion becomes part of everyday life.
Source: Legit.ng
Adunni Amodeni (Content Editor) Adunni Amodeni is a journalist with ten years of working experience in the media industry. She graduated from Babcock University in 2012 with a Bachelor’s Degree in Mass Communication. Adunni previously worked with Encomium Magazine (2012-2015). Email: shoyemi.adedolapo@corp.legit.ng
Victoria Nwahiri (Human Interest Editor) Victoria Nwahiri is an award-winning Reuters-certified journalist with 5+ years of experience in digital, social media, and print journalism. She has extensively covered lifestyle, entertainment, and human interest stories that have impacted and attracted top policymakers. She is currently a Human Interest Editor at Legit.ng and can be reached via victoria.nwahiri@corp.legit.ng
