OPay has dismissed reports circulating across social media claiming that the fintech company plans to suspend its operations from September 1, describing the information as false and misleading.
The rumour, which gained traction across several social media platforms on Sunday, advised customers to withdraw their funds ahead of an alleged shutdown of OPay’s services beginning September.
The development triggered concern among some customers, with some reportedly making precautionary withdrawals amid uncertainty over the authenticity of the message.
However, OPay moved to allay the concerns through a statement published on its verified social media platforms, assuring customers that its services remain fully operational.
The fintech company said it has no plans to suspend its business activities in September.
“This is FALSE. OPay is not going on break by September. We’re here, and we’re going nowhere!”
OPay identifies signs of fake publication
The company urged customers to disregard the viral message and rely exclusively on its official communication channels for information concerning its services.
OPay said the publication contained several inconsistencies that demonstrated that it was not issued by the company.
According to the fintech firm, customers familiar with its official communications would easily identify several warning signs in the circulating message.
“True OPay users know how to identify our official communications. Take a closer look at the viral post and you’ll spot the red flags,” the company said.
It advised customers to verify information before sharing it, adding, “Filter the noise! Follow our official pages for authentic OPay updates.”
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OPay specifically pointed to the use of an incorrect logo, spelling mistakes, an unfamiliar communication template and inaccurate information as indications that the publication was fabricated.
Rumour emerges amid expansion plans
The clarification comes at a time when OPay is reportedly pursuing ambitious growth plans, including possible entry into Nigeria’s capital market.
Reports indicate that the fintech company is considering a listing on the Nigerian Exchange (NGX), a move that could potentially become one of the most significant technology-sector listings in the country’s capital market.
Sources familiar with the matter have indicated that OPay could formally unveil plans for a potential NGX listing as part of its broader expansion strategy.
The company is also reportedly exploring an initial public offering (IPO) in the United States, with a potential valuation of about $4 billion under consideration.
However, it remains uncertain whether an NGX listing would take place alongside a US IPO or form part of a subsequent dual-listing strategy.
Strong financial turnaround
OPay’s reported expansion plans come against the backdrop of a significant improvement in its financial performance.
The company recorded a net profit of $72.47 million in 2025, reversing a $50.98 million loss reported in 2024.
Its revenue also increased by 161 per cent, rising from $205.73 million in 2024 to $536.25 million in 2025.
The growth was attributed to increased transaction volumes, expansion of its customer base and growth in its lending business.
The figures were contained in the company’s audited consolidated financial statements, highlighting the scale of OPay’s financial turnaround as it continues to position itself for further expansion and possible public-market activity.