Opay

By Uzair Adam Imam

Opay, a prominent financial services provider in Nigeria, has moved to reassure its customers about the safety of their funds amidst the recent directive from the Central Bank of Nigeria (CBN) to suspend the creation of new accounts.

It was reported that Kuda Bank, Moniepoint, Palmpay, and Opay were halting new account openings in response to the CBN’s directive.

This suspension follows closely on the heels of the Economic and Financial Crimes Commission (EFCC) taking action against 1,146 bank accounts involved in unauthorized forex dealings.

In a statement released on its X account on Tuesday, Opay affirmed its commitment to combatting illegal financial activities in the country.

The statement reads, “Opay remains committed to collaborating closely with the Central Bank of Nigeria (CBN) and other regulatory bodies in the fight against money laundering, fraud, terrorism financing, and other illicit financial activities.”

“As a regulatory-compliant institution, Opay adheres to the rules set by the CBN and other regulators to uphold the integrity of the financial system.

“In line with this commitment, we have closed non-compliant accounts, implemented stringent security measures, and educated customers to help combat fraud.

“To support government efforts in cleansing the financial industry, Opay and other fintech companies have temporarily paused onboarding new customers and creating new wallets. This action underscores our dedication to fostering a secure financial environment and combating illicit activities.

“It’s important to 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 measure is temporary.

“Customer satisfaction remains our top priority, and we are committed to promoting financial inclusion and contributing to economic growth as key players in Nigeria’s financial ecosystem.”