The company made the clarification on Wednesday during an OPay Live TownHall organised to address concerns generated by the message, which circulated widely on social media and purportedly claimed that OPay would cease operations and proceed on an indefinite leave.

Speaking during the engagement, OPay’s Chief Technology Officer, Dotun Daniel Adekunle, said the impact of the false message was particularly concerning because OPay operates in the financial inclusion space, with many of its customers being first-time users of formal financial service

“It’s important when information is shared across public spaces, there has to be accountability and responsibility,” he said, noting that unverified information could sway public attention, damage trust and create unnecessary anxiety.

He stressed that the message claiming that OPay was shutting down was completely false.

According to him, the message had claimed that the company would have stopped operating by September 1.

“It’s September 2 and we’re still here,” he said, adding that OPay’s services continued to operate normally while customers, merchants and partners remained active on its platform.

Adekunle also drew attention to the position of the Central Bank of Nigeria (CBN), which had described the circulating message as fake news.

He said the CBN’s position should carry significant weight because it is the statutory regulator responsible for supervising the country’s financial system.

He urged customers not to make financial decisions based on unverified social media messages.

He disclosed that OPay had expanded its physical presence in Nigeria despite the rumour, saying, “This year alone, we opened over 26 new offices across Nigeria and our teams are on the ground.”

The company’s Chief Legal Counsel, Akinfolabi Rokosu, said OPay had formally engaged relevant regulatory, security and law enforcement authorities over the matter.

Afolabi described the purported announcement as a false communication deliberately presented as an official OPay statement.

He said the message was capable of creating fear, causing financial losses and undermining confidence in the financial institution.

The legal counsel argued that freedom of expression did not provide protection for unlawful conduct, malicious falsehoods or deliberate attempts to cause financial harm.

He disclosed that the company had provided evidence to security agencies investigating the matter.

He warned that individuals who engage in similar conduct should expect legal consequences, while stressing that the company’s response was not intended to silence criticism or legitimate expression.

“This is not about silencing anyone. No individual should believe social media provides immunity from legal consequences where there is evidence of unlawful conduct,” he said.