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BREAKING NEWS: OPay Sends Message To Customers Concerning Funds In Their Account Following CBN’s Directive

A leading financial services provider, Opay has sent its customers a message concerning the safety of their funds....Continue The Full Reading.

Recall that earlier reports had indicated that the Central Bank of Nigeria (CBN) had barred some online microfinance banks from opening new accounts and accepting new customers.

Naija News reports that the microfinance banks include Moniepoint, PalmPay, Opay, PiggyVest, and Kuda, among others.

However, Opay has reassured its customers that their funds are safe.
Speaking via a statement on its X account on Tuesday, April 30, 2024, the bank said it is committed to fighting illegal financial activities in the country.
The statement reads, “Opay remains committed to working closely with the Central Bank of Nigeria (CBN) and other regulatory bodies to fight money laundering, fraud, terrorism financing, and other illegal financial activities.

“As a regulatory-compliant institution, OPay follows the rules set by the CBN and other regulators to ensure the financial system’s integrity. To achieve this, we have closed non-compliant accounts, implemented strict security measures, and educated customers to help combat fraud.

“To support government efforts to clean up the financial industry, Opay and other Fintechs companies have temporarily paused onboarding new customers and creating new wallets. This action reflects our commitment to a secure financial environment and fighting against illicit activities.

“Please note that existing accounts and wallets remain unaffected by the CBN’s directive. We want to assure our customers that their funds are secure, their data is protected, and this is a temporary measure.

“Customer satisfaction is our top priority, and we are committed to promoting financial inclusion and economic growth as key players in Nigeria’s financial ecosystem.”...Continue Full Reading.>’.

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