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OPay Reassures Customers of fund Security, amid CBN’s New Account Suspension

POSTED ON May 1, 2024 •   Business      BY Abiodun Saheed Omodara
Opay Point of Sales Machine l Credit: Opay l Source: X

Opay, a prominent financial services provider in Nigeria, has given its customers assurances regarding the safety of their funds in light of the directive from the Central Bank of Nigeria (CBN) to suspend the opening of new accounts. 

The suspension of new account openings for these fintech companies comes after the Economic and Financial Crimes Commission (EFCC) took action against 1,146 bank accounts involved in unauthorized forex transactions.

In a statement released on Tuesday, Opay expressed its commitment to combating illegal financial activities in the country.

The statement emphasized that Opay is dedicated to collaborating with the CBN and other regulatory bodies to combat money laundering, fraud, terrorism financing, and other illicit financial activities.

The company stated that it follows the regulations set by the CBN and other regulators to ensure the integrity of the financial system.

As part of this commitment, non-compliant accounts have been closed, stringent security measures have been implemented, and customers have been educated to help prevent fraud.

In support of the government's efforts to clean up the financial industry, Opay and other fintech companies have temporarily paused accepting new customers and creating new wallets.

This decision reflects their dedication to maintaining a secure financial environment and fighting against illicit activities. 

The company reassured customers that existing accounts and wallets are unaffected by the CBN's directive and emphasized that their funds are secure and their data is protected.

Opay reiterated its commitment to customer satisfaction and its role in promoting financial inclusion and economic growth within Nigeria's financial ecosystem.

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