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  • OPay wins Fintech/Digital Bank of the Year 2025 award

    OPay wins Fintech/Digital Bank of the Year 2025 award

    Fintech bank, OPay, has been named Fintech/Digital Bank of the Year 2025.

    The company won the award at The Sun Awards, organised by The Sun Publishing Limited, one of Nigeria’s respected media institutions, on January 31 at Eko Hotels and Suites, Victoria Island, Lagos.

    The award marked a historic milestone, being the first time the category had been introduced since the awards began. The recognition celebrates OPay’s role in building a reliable, inclusive, and easy-to-use digital financial platform that supports millions of Nigerians every day.

    The award recognises OPay’s integrated platform, which brings together mobile banking, digital wallets, fast payments, merchant services, and lifestyle solutions in one place.

    Through this approach, OPay continues to bridge the gap between traditional banking and the digital economy, making financial services more convenient and accessible for individuals and businesses across Nigeria.

    For many users, OPay is more than an app; it is a trusted partner for daily life.

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    From sending money instantly to supporting small merchants with seamless payment solutions, OPay’s technology is designed to solve real problems and support economic activity at every level.

    The COO/CTO of OPay, Adekunle Adedotun, said: “This recognition is a welcome development. The Sun has stood out as one of the shining beacons of journalism, and we are pleased to receive the award. This is an incentive to do more. We’re committed to being user-friendly and innovative. We desire to see banking services get to every nook and cranny; whether you use Android or Apple, we want to make sure you’re financially included.”

    Speaking also on the recognition, OPay’s Chief Commercial Officer Elizabeth Wang said: “This award is a strong validation of our long-term commitment to Nigeria. Being

    recognised in the first-ever Fintech/Digital Bank category by The Sun is not just an honour for OPay, but a recognition of the trust millions of Nigerians place in us every day. We remain focused on building secure, reliable, and inclusive financial solutions that make life easier for individuals and help businesses grow.”

    The company stressed that the award reflected years of consistent investment in secure infrastructure, customer experience, and local partnerships.

    OPay emphasised that trust, reliability, and scale remain central to its mission to support Nigeria’s growing digital economy.

  • OPay wins Fintech/Digital Bank of the Year 2025 award

    OPay wins Fintech/Digital Bank of the Year 2025 award

    Fintech bank, OPay, has been named Fintech/Digital Bank of the Year 2025.

    The company won the award at The Sun Awards, organised by The Sun Publishing Limited, one of Nigeria’s respected media institutions, on January 31 at Eko Hotels and Suites, Victoria Island, Lagos.

    The award marked a historic milestone, being the first time the category had been introduced since the awards began. The recognition celebrates OPay’s role in building a reliable, inclusive, and easy-to-use digital financial platform that supports millions of Nigerians every day.

    The award recognises OPay’s integrated platform, which brings together mobile banking, digital wallets, fast payments, merchant services, and lifestyle solutions in one place.

    Through this approach, OPay continues to bridge the gap between traditional banking and the digital economy, making financial services more convenient and accessible for individuals and businesses across Nigeria.

    For many users, OPay is more than an app; it is a trusted partner for daily life.

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    From sending money instantly to supporting small merchants with seamless payment solutions, OPay’s technology is designed to solve real problems and support economic activity at every level.

    The COO/CTO of OPay, Adekunle Adedotun, said: “This recognition is a welcome development. The Sun has stood out as one of the shining beacons of journalism, and we are pleased to receive the award. This is an incentive to do more. We’re committed to being user-friendly and innovative. We desire to see banking services get to every nook and cranny; whether you use Android or Apple, we want to make sure you’re financially included.”

    Speaking also on the recognition, OPay’s Chief Commercial Officer Elizabeth Wang said: “This award is a strong validation of our long-term commitment to Nigeria. Being

    recognised in the first-ever Fintech/Digital Bank category by The Sun is not just an honour for OPay, but a recognition of the trust millions of Nigerians place in us every day. We remain focused on building secure, reliable, and inclusive financial solutions that make life easier for individuals and help businesses grow.”

    The company stressed that the award reflected years of consistent investment in secure infrastructure, customer experience, and local partnerships.

    OPay emphasised that trust, reliability, and scale remain central to its mission to support Nigeria’s growing digital economy.

  • What to know as CBN upgrades OPay, Moniepoint, Kuda, others

    What to know as CBN upgrades OPay, Moniepoint, Kuda, others

    The Central Bank of Nigeria (CBN) has upgraded the operating licences of several leading financial technology firms and microfinance banks (MFBs) to national status, allowing them to operate fully across all States of the Federation.

     Director of the Other Financial Institutions Supervision Department at the CBN, Yemi Solaja, announced this during the annual Committee of Heads of Banks’ Operations (CHBOs) conference held in Lagos.

    Solaja explained that the licence upgrade is not automatic, noting that affected institutions were required to meet specific regulatory, compliance and operational benchmarks before qualifying.

    He said many digital lenders and payment service providers had expanded their operations beyond the limits of their original licences, prompting the regulator to formally update their authorisations to reflect their nationwide reach.

    Under the revised framework, major players including Moniepoint Microfinance Bank, OPay, Kuda Bank and other fintechs now hold national licences, granting them approval to operate across Nigeria rather than within restricted regions.

    The CBN said the move is aimed at strengthening regulatory oversight of fast-growing fintech operators while sustaining momentum in the expansion of financial inclusion nationwide.

    Here are things to know about the CBN’s National Licence Upgrade:

    1. Nationwide operations now permitted

    The national licence allows fintechs and microfinance banks to operate legally across all states, removing previous regional or state-level restrictions.

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    2. Stronger regulatory oversight

    The upgrade closes a regulatory gap by bringing fast-growing fintechs fully under CBN supervision, with tighter monitoring of operations nationwide.

    3. Higher capital and compliance standards

    National microfinance banks must now maintain a minimum capital base of about ₦5 billion, alongside stricter reporting, governance and risk-management requirements.

    4. Physical presence is mandatory

    Licensed institutions are required to establish physical branches or service centres in key locations, improving access for customers who need in-person support.

    5. Improved consumer protection and dispute resolution

    Expanded oversight and physical outlets are expected to enhance complaint handling, transaction reversals and customer redress mechanisms.

    6. Fintechs remain distinct from commercial banks

    Despite the upgrade, fintechs and MFBs are not deposit money banks and are still limited to services permitted under their licence categories.

    7. Agent banking networks will expand

    Nationwide approval enables firms to scale agent networks across Nigeria, boosting access to cash-in, cash-out and payment services, especially in underserved areas.

    8. Boost for financial inclusion and rural economies

    The move supports the CBN’s cashless and financial inclusion agenda, improving access to digital payments, savings and credit for rural communities and informal workers.

    9. Rising operational costs for operators

    Maintaining nationwide infrastructure, compliance teams and physical outlets is expected to increase operating expenses for affected firms.

    10. Pressure on smaller fintechs

    Higher capital and compliance demands may strain smaller players, potentially leading to mergers or market consolidation.

    11. Greater focus on data protection and cybersecurity

    As operations scale nationally, regulators are expected to intensify scrutiny of data privacy, cybersecurity and customer information protection.

    12. Increased competition for traditional banks

    Commercial banks may face stiffer competition in retail payments and SME services, particularly where fintech agents are more accessible than bank branches.

    13. Stricter penalties for regulatory breaches

    National licence holders face tougher sanctions for violations, including fines, operational restrictions or licence withdrawal.

    14. Higher transparency expectations

    The CBN will require more frequent disclosures, audits and performance reports to monitor financial stability risks.

    15. Potential boost to investor confidence

    National regulatory approval may strengthen investor trust in Nigeria’s fintech sector and attract additional local and foreign investment.

  • CBN okays nationwide operations for Opay, Moniepoint, others

    CBN okays nationwide operations for Opay, Moniepoint, others

    By Akintunde Olamide

    The Central Bank of Nigeria (CBN) has granted national operational approval to several financial technology companies and microfinance banks, allowing them to operate across all states in the country.

    The approval applies to major digital payment platforms such as Opay and Moniepoint, alongside other licensed fintech firms and microfinance banks that previously operated under state or regional licences.

    The development marks a notable shift in Nigeria’s financial services landscape, as the regulator broadens the reach of digital banking solutions nationwide.

    Sources familiar with the decision said the approval followed comprehensive regulatory reviews and operational assessments by the CBN to ensure that the affected institutions meet the required benchmarks in capital adequacy, corporate governance and risk management.

    With the upgraded status, the institutions are now authorised to expand beyond their former geographic boundaries, establish physical outlets, deploy agent networks and offer financial services across the country.

    The CBN said the move is expected to accelerate financial inclusion, particularly in rural and underserved areas where access to traditional banking infrastructure remains limited. Fintech companies such as Opay and Moniepoint have built extensive agent networks that support payments, fund transfers, bill payments and banking services for small businesses.

    Analysts say the decision reflects the regulator’s recognition of the growing importance of fintechs in Nigeria’s financial ecosystem and their role in complementing conventional banks.

    The national licence is expected to enable the firms to scale operations more rapidly, improve service delivery and compete more effectively with commercial banks, especially in retail banking and small-business financing.

    For consumers, the expansion could lead to wider access to digital financial services, faster transaction processing and increased competition, potentially resulting in lower transaction costs.

    Despite the upgrade, the CBN emphasised that the affected institutions will remain subject to strict regulatory oversight. The apex bank noted that compliance with anti-money laundering regulations, consumer protection rules, data security standards and capital requirements remains mandatory.

    Beneficiaries of the approval are required to maintain strong internal controls and submit periodic reports to the regulator. Any breach of regulatory guidelines could attract penalties, including suspension or withdrawal of operating licences.

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    The decision has been welcomed across Nigeria’s technology and financial sectors. Fintech operators described the approval as a validation of sustained investments in infrastructure, regulatory compliance and customer trust.

    Small and medium-sized business owners, many of whom rely on mobile money agents and digital payment platforms, have also reacted positively, expressing optimism that nationwide operations will improve service reach and reliability.

    However, some industry observers have advised the CBN to continue close monitoring of fintech expansion to minimise systemic risks, especially as digital platforms play an increasingly central role in daily financial transactions.

    The approval comes at a time when Nigeria’s fintech sector continues to attract significant local and international investment, strengthening the country’s position as a leading digital finance hub in Africa. As Opay, Moniepoint and other approved institutions commence nationwide expansion, attention will be focused on how effectively they maintain service quality while scaling operations across Nigeria’s diverse markets.

  • OPay wins Most Trusted Digital Bank, other awards at NiTA

    OPay wins Most Trusted Digital Bank, other awards at NiTA

    Nigeria’s leading financial technology company, OPay, has been named the Most Trusted Digital Bank of the Year and Customer-Friendly Digital Bank of the Year.

    OPay won the awards at the Nigeria Technology Awards (NiTA) 2025.

    The awards ceremony, held on Saturday, brought together top technology leaders, innovators, and organisations driving Nigeria’s digital transformation. Now in its 11th edition, NiTA continues to recognise outstanding achievements across the country’s technology ecosystem, celebrating organisations that deliver measurable impact and set new benchmarks in digital innovation.

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    Speaking after receiving the awards, the Head of IT Support and Operations at OPay, Ibukun Humphery Oluwagbenga, said:

    “Being named Most Trusted Digital Bank and Customer-Friendly Digital Bank at NiTA 2025 is a testament to our unrivalled commitment to our customers. Every product, service, and innovation we deliver is focused on building trust, simplifying digital banking, and ensuring that users can transact safely and confidently. This recognition belongs to our dedicated team and the millions of Nigerians who inspire us to continually raise the standard for digital banking.”

    The Chief Commercial Officer at OPay, Elizabeth Wang, added: “We are proud to receive these two prestigious awards, which reinforce OPay’s mission to provide not only secure but highly accessible and customer-friendly digital banking services. These awards celebrate our ongoing dedication to trust and reliability.”

    OPay’s dual wins at NiTA 2025 reflect the company’s sustained efforts in expanding digital financial inclusion across Nigeria. Beyond its technological innovations, OPay has actively promoted financial literacy, customer support excellence, and community engagement, ensuring that users are equipped with the knowledge and tools to transact safely. This approach has not only strengthened customer trust but also contributed to the company’s reputation as one of the most reliable and user-friendly digital banks in Nigeria.

  • OPay secures double honours at Tech Innovation awards

    OPay secures double honours at Tech Innovation awards

    Nigeria’s premier financial technology company, OPay, has been named Fintech Company of the Year and Best Fintech in Cybersecurity at the ninth Tech Innovation awards.

    The awards were in recognition of the company’s innovation and security leadership as a prestigious platform celebrating excellence in Nigeria’s technology ecosystem.

    The awards ceremony, held on November 29, at the Oriental Hotel, Victoria Island, Lagos, brought together top organisations and industry leaders shaping the country’s digital landscape.

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    After receiving the honours, OPay’s Chief Compliance Officer, Chukwudinma Okafor, said: “These awards are a testament to our relentless pursuit of excellence in fintech and our unwavering commitment to user security. Every innovation we introduce, from secure payments to advanced compliance measures, is designed to give millions of Nigerians the confidence to transact safely. This recognition belongs as much to our dedicated team as it does to the users who inspire us to continually raise the bar for excellence in fintech and cybersecurity.”

    Highlighting OPay’s proactive approach to security, the company’s Chief Commercial Officer, Elizabeth Wang,

    said: “We are incredibly proud to receive both Fintech Company of the Year and Best Fintech in Cybersecurity at the Ninth Tech Innovation Awards, two recognitions that highlight our dedication to security and user protection. At OPay, we believe that equipping users with the knowledge and advanced tools is essential to building trust and promoting financial inclusion. This was demonstrated through our OPaySecurityVoteCampaign some months ago, a dynamic social media initiative that educated users on our in-app security features. The campaign has helped millions of Nigerians understand how to protect their accounts and transact safely, reinforcing that security is central to everything we do. Hence, these awards recognise not only our leadership in fintech, but also our commitment to keeping every transaction secure and our customers confident in their financial journey.”

  • OPay wins SERAS 2025 social impact, human capacity development award

    OPay wins SERAS 2025 social impact, human capacity development award

    Nigeria’s leading financial technology company, OPay, has been recognised for its outstanding contributions to corporate social responsibility, winning the SERAS 2025 Award for Social Impact & Human Capacity Development.

    The SERAS Awards remain one of Africa’s most prestigious platforms celebrating organisations that make meaningful and measurable differences in their communities.

    The 19th edition, held at the weekend at the Oriental Hotel, Victoria Island, Lagos, convened trailblazing organisations and industry leaders committed to driving transformative social change across the continent.

    Receiving the award on behalf of the company, OPay’s CSR Manager, Itoro Udo, expressed gratitude to the SERAS organisers and dedicated the recognition to the individuals at the centre of OPay’s social impact efforts.

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    He said: “We are truly honoured by this recognition and sincerely thank the SERAS organisers for this award. This achievement is for the students benefiting from our N1.2 billion 10-year scholarship programme, which is opening doors to quality education; the women empowered through our skill development programmes, and the primary school children who received essential school supplies to continue their education. These individuals inspire us every day, and this award belongs to them as much as it does to OPay.”

    Also, the Chief Commercial Officer at OPay, Elizabeth Wang, underscored the company’s commitment to deepening its community impact. “This award reflects our unwavering commitment to deepening our community impact. Through initiatives such as our N1.2 billion 10-Year Scholarship Programme, women’s empowerment and skills development, and support for children with essential learning materials, we believe real progress happens when people are given the opportunity to thrive. We dedicate this honor to everyone whose lives we’ve touched and continue to empower. It is a proud moment that underscores the power of innovation, purpose, and responsible corporate citizenship.”

    OPay’s social impact initiatives—ranging from the empowering futures scholarship program, skill empowerment, and the distribution of educational materials—demonstrate the company’s dedication to human capacity development and social upliftment. Winning the SERAS 2025 Award further cements

  • OPay unveils new Ibadan office

    OPay unveils new Ibadan office

    • Expands commitment to financial inclusion in Nigeria

    OPay Digital Services Limited has officially launched its new Ibadan office, reinforcing the company’s commitment to expanding safe, secure, accessible, and innovative financial services to individuals and businesses across Nigeria.

    The launch event, held yesterday at the OPay office in Ibadan, the Oyo State capital, brought together business leaders, partners, merchants, agents, and members of the media. The new Ibadan location will serve as a strategic support centre, improving service delivery for merchants, SMEs, corporate clients, and millions of OPay users across Oyo State.

    Speaking at the event, the Chief Commercial Officer, OPay Digital Services Limited, Elizabeth Wang, stated that the opening of the new office reflected OPay’s unwavering commitment to customer satisfaction and its broader nationwide expansion strategy.

    She said: “The Ibadan launch represents an important step in our mission to bring world-class financial services closer to Nigerians. While many of our customers enjoy the convenience of engaging with us online, a significant number still prefer in-person interaction. This new office ensures that every customer—regardless of their preferred channel—can access reliable support and a seamless service experience.”

    Wang highlighted OPay’s growing physical presence across the country.

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    She said: “We currently have 28 offices in 25 states, but this is our first fully upgraded branch in Ibadan. Although we have operated here previously, the facility was not at this standard. Between this year and next year, all our offices nationwide will be renovated to reflect the exceptional quality we are unveiling today.”

    Wang reaffirmed OPay’s dedication to offering secure, technology-driven solutions:

    “Our customers will continue to enjoy beyond-banking services backed by a fast, reliable network. We have also deployed advanced security features—including Face ID and other cutting-edge protections—to ensure safer transactions and a more secure digital ecosystem,” she added.

    Also, the Head of Partnership at OPay, Odiase Ikponmwosa, announced that the new office reinforced the company’s mission to remain close to its customers while delivering exceptional service at all touchpoints.

    He said: “With this new office, customers can expect enhanced service and stronger engagement. We are deeply passionate about meeting their needs, listening to their feedback, and consistently improving their experience.”

    This new facility in Ibadan brings us even closer to them and reflects our long-term commitment to support their growth.”

    Odiase added that customers should anticipate increased collaboration initiatives, improved support structures, and even more partnership opportunities as OPay continues to scale its operations across Nigeria.

    The new Ibadan office is designed to enhance customer experience, offer faster issue resolution, deepen merchant support, and provide a space for product demonstration and partner engagement. It also supports OPay’s broader strategy of driving financial inclusion, supporting digital commerce, and empowering young people and SMEs with reliable and secured financial tools.

  • OPay bags double awards for organisational excellence

    OPay bags double awards for organisational excellence

    OPay, Nigeria’s leading financial technology company, has reaffirmed its industry leadership and commitment to excellence by being recognised with two major honours for organisational performance in financial crime prevention and governance, risk management, and compliance. These awards, presented at the 2025 GRC & Financial Crime Prevention Awards, highlight OPay’s continued dedication to building a secure, transparent, and trusted financial ecosystem for millions of Nigerians.

    This recognition reflects OPay’s relentless focus on strengthening internal structures that enhance safety, accountability, and operational transparency. The company continues to deploy advanced security technologies, implement robust compliance frameworks, and maintain proactive risk-management systems that prevent financial crimes, protect customer information, and uphold best-in-class operational standards. Such efforts have positioned OPay as one of Nigeria’s most trusted and resilient digital financial platforms.

    Commenting on the recognition, the Chief Commercial Officer of OPay, Elizabeth Wang, said: “The awards are a testament to not only the hard work and dedication of our teams, but the strong compliance culture we have built at OPay. Trust is the foundation of financial services, and we remain fully committed to providing a secure, transparent, and inclusive ecosystem for our customers, merchants, and partners. These awards inspire us to continue raising the bar and investing in systems that make our platform safe, compliant, and future-ready.”

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    The awards further validate OPay’s strategic direction and its commitment to delivering reliable, accessible, and innovative financial solutions to individuals, SMEs, and communities across Nigeria. The company extends its sincere appreciation to its loyal users, industry partners, regulators, and employees, whose collaboration and trust make achievements like this possible.

    OPay remains steadfast in strengthening governance standards, enhancing consumer protection, and deploying innovative solutions that ensure safer transactions, stronger consumer confidence, and long-term sustainability within Nigeria’s digital finance ecosystem.

  • OPay celebrates scholarship impact

    OPay celebrates scholarship impact

    Firm unveils Cyberlabs at conference

    OPay, Africa’s leading financial technology company, has reaffirmed its vision to be the most respected and popular financial technology company that actively creates social value, with a mission to make financial services more inclusive through technology, during the 2025 Empowering Futures Conference.

    The conference marked the first anniversary of the N1.2 Billion, 10-Year OPay Scholarship Programme, a cornerstone of the company’s commitment to empowering young Nigerians through education and technology.

    As part of the event, OPay announced the delivery of its first-year commitment, having disbursed N126 million in scholarships to 420 outstanding students across 20 Nigerian tertiary institutions. This milestone fulfills the first phase of OPay’s N120 million annual investment, in line with the ten-year Memoranda of Understanding (MoUs) signed with partner universities across the country.

    The OPay 10-Year Scholarship Programme stands as a long-term investment in Nigeria, designed to support brilliant students who demonstrate academic excellence, leadership potential, and genuine financial need. By combining merit and need-based selection, the initiative ensures that talented students from diverse economic backgrounds have the opportunity to pursue their education without financial barriers.

    Speaking at the event, several Vice-Chancellors from participating institutions commended OPay’s sustained commitment to education. The Vice-Chancellor of the University of Calabar, in particular, pledged to promote OPay’s initiatives on campus, encouraging students to embrace digital financial inclusion and leverage the scholarship to achieve academic success.

    “We are proud to partner with OPay to open the doors of opportunity for our students — when we equip young minds with digital-financial tools, we’re not only supporting their studies, we’re enabling them to meaningfully participate in tomorrow’s economy,” Prof. Obi said.

    As part of its broader commitment to digital empowerment, OPay also launched the OPay CyberLabs Project in partnership with the University of Calabar, marking the establishment of the first CyberLab under the programme.

    The CyberLabs Project is designed to revamp university technology facilities and provide hands-on training sessions for students, led by OPay’s top technology professionals.

    These sessions will expose students to emerging global technologies and practical digital skills, preparing them for the realities of today’s innovation-driven economy.

    Commenting on the launch, Elizabeth Wang, Chief Commercial Officer at OPay reiterated that the scholarship initiative remains the central pillar of its social impact strategy, while complementary programmes like CyberLabs will continue to support capacity development and digital literacy.:

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    “Through the CyberLabs Project, we are not only upgrading university technology facilities but also creating platforms where students can learn directly from some of the best minds in the industry.

    “Our goal is to bridge the gap between academia and real-world innovation, ensuring Nigerian students are equipped with the knowledge and tools to thrive in today’s technology-driven world,” she said.

    Reaffirming OPay’s vision to build a financial ecosystem that empowers people and creates shared value — with education positioned as a key driver of national progress — Itoro Udo, CSR Manager at OPay, said, “Education is the future of society, and students are the builders of that future. By investing in both learning and technology, OPay will continue to demonstrate its role as a catalyst for inclusive growth in Nigeria.”

    With initiatives such as the OPay 10-Year Scholarship Programme, the company is deepening its social impact and campus partnerships, nurturing a generation that is both academically driven and financially empowered to drive change.

    OPay was established in 2018 as a leading financial institution in Nigeria with the mission to make financial services more inclusive through technology. The company offers a wide range of payment services, including money transfer, bill payment, airtime & data purchase, card service, and merchant payments, among others.

    Renowned for its super-fast experience and reliable network, OPay is licensed by the CBN and insured by the NDIC with the same insurance coverage as commercial banks.