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Tag: OPAY

OPay to charge N50 on transfers from N10,000 above
News

OPay to charge N50 on transfers from N10,000 above

OPay has announced a new fee on electronic transfers to personal and business accounts, in line with Federal Inland Revenue Service regulations. Effective September 9, 2024, a one-time charge of N50 will be applied to transfers of N10,000 or more. In a notice issued on Saturday, OPay informed its customers: “Starting September 9, 2024, a […]

News

Opay meets NDIC N5m depositors fund insurance requirement

OPay, one of Nigeria’s major financial technology businesses, has guaranteed its customers that their deposits are now insured up to N5 million, the industry benchmark set by the Nigeria Deposit Insurance Corporation. This was disclosed in a statement by Opay on Sunday. This not only demonstrated its commitment to financial security but also matched it […]

Opay warns users against crypto trading on platform
featured News

Opay warns users against crypto trading on platform

One of Nigeria’s prominent fintech companies, OPay, has issued a stern caution to its users regarding cryptocurrency or any virtual currency trading within its app. “In compliance with the CBN directive, please note that OPay prohibits any cryptocurrency and all virtual currency trading. Any account engaging in such activities will be closed, and customer information […]

News

Opay reassures customers of funds security

Opay, a leading fintech bank in Nigeria has urged their customers to remain calm reassuring them that their funds are safe and sound. This was disclosed by Opay via their official X handle on Tuesday. This follows the Central Bank of Nigeria’s directive of stopping at least four fintech banks from new account openings for […]

OPay launches security features to secure clients' funds
Business

OPay launches security features to secure clients’ funds

Nigerian financial technology company, OPay, has introduced a number of security measures to combat financial fraud. The PUNCH reported that according to the corporation, the program aimed to improve platform security and protect clients from fraudulent actions. OPay stated that it was recently recognized by the World Economic Forum and given the customer choice award by […]

Opay, Kuda, others to be taken down from fund transfer channels - Report
featured

Opay, Kuda, others to be taken down from fund transfer channels – Report

          Banks in Nigeria have received instructions from the Nigeria Interbank Settlement System Plc to remove all non-deposit-taking financial institutions from their NIP fund transfer channels. Non-deposit-taking financial institutions encompass switching companies, payment solution service providers, and super agents. The NIP fund transfer channels comprise USSD, mobile banking apps, POS, ATMs, […]

OPay launches security features to secure clients' funds
News

OPay denounces viral video alleging fraudulent activities

Mobile money platform, OPay, has described the video making the rounds on social media regarding alleged fradulent activities on some OPay agent accounts as fake. According to the statement released by the company, relevant actions were taken along with the stakeholders when the incident occured two years ago, precisely on the 23rd of August, 2021. […]

Opay president Olu Akanmu steps down after two years
News Tech

Opay president Olu Akanmu steps down after two years

Olu Akanmu has stepped down as the president and co-CEO of OPay Nigeria, according to a statement he posted on his Twitter profile on Monday. “My gratitude to all my colleagues at Opay for the good work we did together in deepening financial inclusion in Nigeria, ensuring that less and less number of our people […]

OPay celebrates five-year anniversary, unveils new logo
Business

OPay celebrates five-year anniversary, unveils new logo

OPay Nigeria, a well-known financial services provider, has formally rebranded and released a new logo to commemorate its fifth year in the Nigerian market. This transformation not only signifies the company’s considerable development and influence over the years, but also its commitment to enter a new era with improved services, technological developments, and the desire […]

Lagos startup ecosystem biggest in sub-Saharan Africa - Report
Business

Lagos startup ecosystem biggest in sub-Saharan Africa – Report

A new analysis by policy and advisory research firm Startup Genome has revealed that Lagos is the regional leader in the Sub-Saharan startup ecosystem in terms of ecosystem value and capital raised. The report claims that the Lagos startup ecosystem was valued at $8.4 billion between the second quarter of 2020 and 2022 utilizing the value of […]

CBN denies rumors on suspension of OPAY, PALMPAY
Banking

CBN denies rumors on suspension of OPAY, PALMPAY

The rumors that the Central Bank of Nigeria has suspended accounts of Fintech businesses like OPAY and PALMPAY have been labeled as false by the bank. The viral rumor is “just fake,” CBN’s Acting Director of Corporate Communications, Isa AbdulMumin, told the News Agency of Nigeria in Abuja on Friday. According to the widely circulated […]