Fintech giant OPay has enlisted Nigeria’s top security agencies to track down those behind a viral rumor claiming the company was shutting down, a hoax designed to mimic an official statement and threaten confidence in the digital finance sector.
Speaking at a press conference in Lagos on Wednesday, OPay’s Chief Legal Counsel, Akinfolabi Rokosu, confirmed that the Department of State Services (DSS) and the Nigeria Police Force, alongside other unnamed law enforcement bodies, are now actively looking into the matter, with OPay fully cooperating by supplying evidence to help identify those behind the claims.
Rokosu was flanked at the briefing by OPay’s Chief Operating Officer and Chief Technology Officer, Dotun Adekunle.
The controversy traces back to a notice that began circulating on X (formerly Twitter) and other platforms on Sunday, falsely warning that OPay would suspend operations from September 1, 2026, and urging customers to withdraw their funds.
The message was crafted to resemble an official OPay communication, which Rokosu said made it especially dangerous, given its capacity to create fear, trigger financial losses, and erode confidence in a regulated financial institution.
Rokosu disclosed that the Central Bank of Nigeria and other regulatory authorities have already acknowledged the claim as false, and that OPay has commenced legal action against some of those allegedly responsible, a step that, according to other outlets covering the briefing, has already seen the company threaten legal action against at least three social media users identified in connection with the false posts.
For his part, Adekunle was unequivocal in dismissing the shutdown claims, declaring, “OPay is here, OPay is operating, and OPay is going nowhere.” He pointed out the irony embedded in the hoax itself, noting that the fake notice claimed a shutdown effective September 1, even as the company continued running normally into September 2.
He added that the company’s technology and operations teams functioned normally throughout, with staff closely monitoring systems on September 1 specifically because of the rumours, and that the company retains a workforce of over 7,000 staff in Nigeria.
Adekunle also cautioned the public against reacting impulsively to unverified alerts, urging customers not to act on social media or messaging-platform notices without confirming them through official channels, since even convincingly designed messages can be entirely fabricated.
Rokosu closed the briefing on a defiant note, warning that the company would pursue anyone found to have manufactured or spread the false narrative “to the fullest extent of the law,” and framing the crackdown not as an attempt to muzzle criticism but as a defence against deliberate economic sabotage: this, he stressed, “is not about silencing anyone.” OPay, in his words, “is not going to be silenced.”
WHAT YOU SHOULD KNOW
OPay is not shutting down. The viral shutdown notice was a fabricated hoax, and the company has enlisted the DSS and Nigeria Police to track down and prosecute those responsible.
Customers’ funds are safe, operations remain fully active, and the key takeaway for the public is simple: verify claims through OPay’s official channels before acting on unverified social media posts.
