OPay says 'we are going nowhere' as DSS, police probe fake shutdown rumour

OPay has declared it is not leaving Nigeria, as the Department of State Services (DSS) and the Nigeria Police Force investigate a viral message falsely claiming the fintech company would shut down operations from September 1, 2026. The company's Chief Legal Counsel confirmed the probe at a press conference on Wednesday.

The false notice had urged customers to withdraw their funds before September 1 to avoid losing access to their accounts. OPay says the date has passed and the company remains fully functional.

Investigation underway

Akinfolabi Rokosu, OPay's Chief Legal Counsel, said law enforcement agencies are actively investigating how the message was created and spread. He said OPay is cooperating fully with the inquiry.

Rokosu said: "While the DSS and the Nigeria police, among the relevant law enforcement agencies, are currently and intensively investigating this matter, we are fully cooperating with the ongoing investigations being conducted and have provided the necessary evidence to identify those responsible."

He promised legal consequences for those behind the rumour. "OPay is taking action against those responsible for creating and circulating this harmful information. We will pursue them and will ensure that the law is fully enforced," he added. He also warned anyone tempted to spread similar claims to expect decisive legal action.

OPay fires back at rumour

Dotun Adekunle, OPay's Chief Operating Officer and Chief Technical Officer, used the company's continued presence to counter the rumour directly. "OPay is here, OPay is operating, and OPay is going nowhere," Adekunle said.

He pointed out that the viral message named September 1, 2026 as the shutdown date. Speaking on September 2, he said the company remained fully functional, proof enough that the claims were false.

Adekunle urged customers to be cautious with visually convincing online messages. "A message can look official and still be completely false. A logo can be copied, a document can be designed to look convincing, and a message can be shared thousands of times without becoming true."

Retraction after viral warning

The false notice began circulating on Sunday. OPay quickly dismissed it and directed customers to its official channels for verified information.

By Monday, the company had reached out to an X user, @haifah-er-abba, who repeated the shutdown claim. OPay requested a retraction and a public apology. The user later deleted the post and apologised on her X handle.

OPay had earlier been linked to a possible listing on the Nigerian Exchange (NGX), a move that could allow local investors to own shares directly. People familiar with the matter said the listing could be formally announced soon, even as OPay also considers a separate initial public offering in the United States at a reported valuation of about $4 billion.

What it means

For OPay customers and the broader fintech sector, the company's firm response signals that it is protecting its reputation in Nigeria. The involvement of security agencies also sends a warning that fake news about financial institutions will be treated as a serious matter.