We’re not going anywhere, OPay refutes September shutdown rumour

Orisemeke Benjamin

Financial technology firm OPay has officially debunked viral reports alleging plans to suspend its operations from September 1, describing the claims as entirely false, misleading, and fabricated.

The rumour gained traction across social media platforms over the weekend after a fake notice urged users to withdraw their funds ahead of a supposed service shutdown. The message sparked anxiety among a section of customers, prompting precautionary withdrawals over fears of lost access to their accounts.

Reacting swiftly to the speculation, OPay issued a statement via its verified social media channels to reassure the public of its uninterrupted service delivery.

“This is FALSE. OPay is not going on break by September. We’re here, and we’re going nowhere!” the company declared.

Addressing the origins of the rumour, OPay pointed out distinct discrepancies in the viral post, noting that it featured an altered logo, spelling errors, and an uncharacteristic layout that flagged it as fraudulent.

“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 firm added, urging customers to rely solely on authenticated channels and avoid spreading unverified claims.

The clarification has brought relief to users who were initially alarmed by the direct instruction to clear their account balances. Industry analysts and customers alike noted that the incident underlines the growing need for rapid corporate response in the digital age to prevent unnecessary panic within the financial ecosystem.

Contrary to claims of an operational exit, OPay’s financial trajectory signals aggressive expansion. The company’s audited consolidated financial statements reveal a turnaround performance, recording a net profit of $72.47 million in 2025 compared to a $50.98 million loss in 2024. Revenue surged by 161 percent within the same period, climbing from $205.73 million to $536.25 million.

The fintech leader is reportedly weighing high-profile capital market moves, including a potential dual listing on the Nigerian Exchange (NGX) and an initial public offering (IPO) in the United States, targeting a valuation near $4 billion.