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Nigeria FCCPC investigates OPAY

Modupeoluwa Olalere by Modupeoluwa Olalere
October 7, 2023
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The Federal Competition and Consumer Protection Commission will ask OPay about Nigerians’ claims of unauthorised accounts.

The company’s Executive Vice Chairman and Chief Executive Officer, Babatunde Irukera, said this in response to Nigerians’ claims on Twitter that OPay was starting unapproved accounts for them.

In response to these worries, Irukera tweeted, “OPAY is on its way to @fccpcnigeria to address and explain this and other strange things that customers have noticed in the last few days.” A new report will be out soon.”

Earlier, in response to another tweet, the FCCPC CEO said, “OPay has been asked to come in and explain why there have been some strange things going on for the past few days.”

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Read also: OPay, Kuda among top fintech firms in 2023

OPay offers licenced mobile money

OPay is a licenced mobile money service that uses customers’ phone numbers as account names. During Nigeria’s recent cash shortage, the fintech’s services were more reliable than those of traditional banks, which were failing.

We could not reach Irukera to find out if OPay had answered the commission’s summons.

Kunle Adeyemi, who is the Head of Marketing for OPay, said that some of the people who were impacted may have worked with OPay in the past. These claims were made in reports that were confirmed.

He said, “We saw these tweets yesterday, and we’re looking into what happened right now to ensure that everyone with a wallet is properly registered.” Some people may have used the platform at some point. Before we react, I must get feedback from inside the company based on what we find out.”

Nigerian Fintechs Expand Workforces and Upskill Talent to Sustain Growth

In a tweet, @hackSultan said, “I just checked, and everyone in my family and I have an OPay account. We’ve never set up an OPay account. How can this even be allowed?” Many other Internet users agreed with this, saying they have OPay accounts even though they’ve never used them.

Many people on the Internet have now raised the alarm about this, even though they say they’ve never used the fintech’s services.

“This is ridiculous,” @Cohannnnn wrote on Twitter. There is an OPay account for everyone.”

@Busayo Otebata said, “I don’t have an OPay account, I’ve never opened one, and I’ve never done anything with OPay, but I can see my name on their banking app.”

Tags: FCCPCOpay
Modupeoluwa Olalere

Modupeoluwa Olalere

Modupe is a tech content writer with 3+ years of experience turning complex ideas into clear, engaging stories. She covers innovation, digital trends, and emerging technologies. When she’s not writing, she’s exploring new tools or tracking trends shaping Africa’s tech ecosystem.

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