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Nigerian fintech company OPay has asked the Department of State Services (DSS) and the Nigeria Police to investigate a viral social media claim alleging that the company is preparing to shut down its operations in Nigeria.
The company said the information is false and potentially capable of triggering unnecessary panic among customers and causing wider disruption to the financial system.
OPay’s Chief Legal Counsel, Akinfolabi Rokosu, disclosed the development at a press conference in Lagos on Wednesday, September 2, 2026, where he confirmed that the fintech remains fully operational in Nigeria.
OPay Denies Shutdown Claim
Rokosu said OPay decided to involve security agencies because of the potential consequences of the rumour, particularly its ability to cause financial losses and undermine confidence in the financial system.
He stressed that OPay is not shutting down and continues to operate normally in the Nigerian market.
According to him, the company is cooperating with the ongoing investigation and has submitted evidence that could help law enforcement authorities identify individuals responsible for creating and distributing the information.
The legal counsel said the company would pursue appropriate action against those responsible.
Company Warns Against False Information
OPay described the circulation of the shutdown claim as harmful and said it would seek full enforcement of the law against individuals found to have deliberately created or spread the information.
The company also warned that people who engage in similar conduct could face legal consequences.
Rokosu maintained that the move was not intended to suppress legitimate criticism or public discussion, but to address what the company considers deliberately false information capable of causing harm.
He also stressed that OPay would not allow itself to be intimidated by the situation.
DSS, Police Investigations Underway
According to OPay, both the DSS and Nigeria Police are already investigating the matter.
The fintech said it is providing the relevant evidence and cooperating with the agencies as they work to establish the source and spread of the shutdown claim.
The involvement of the security agencies underscores the seriousness with which OPay views the potential impact of misinformation involving a major financial-services platform.
With millions of Nigerians relying on digital financial platforms for payments and other transactions, unverified claims about the collapse or closure of a major fintech can quickly generate anxiety among users.
Another Challenge for Nigeria’s Fintech Sector
The incident comes at a significant moment for OPay, which has been expanding its Nigerian operations and preparing for a potential listing on the Nigerian Exchange.
Recent reports have highlighted the company’s improving financial performance, including a return to profitability and substantial transaction volumes.
The shutdown rumour therefore arrives as OPay continues to position itself as one of Nigeria’s major digital financial-services companies.
For customers, the company’s latest message is straightforward: OPay says it remains operational and has no plans to shut down its Nigerian business.
The company is now leaving the investigation into the source and circulation of the rumour to law enforcement authorities, while warning that those found responsible could face legal action.
