NEWS

‘Your Funds Are Secured’- Opay Reassures Customers Amid CBN’s New Account Suspension

Earlier, Waffi TV reported on Kuda Bank, Moniepoint, Palmpay, and Opay pausing new account openings in response to the CBN’s directive.

By Nkiruka Aduba

Opay, a prominent financial services provider in Nigeria, has affirmed its commitment to safeguarding customers’ funds in light of the Central Bank of Nigeria’s directive to suspend new account creations.

Earlier, Waffi TV reported on Kuda Bank, Moniepoint, Palmpay, and Opay pausing new account openings in response to the CBN’s directive.

This move by the fintech companies closely follows the Economic and Financial Crimes Commission’s crackdown on 1,146 bank accounts engaged in unauthorized forex transactions. In a statement released on Tuesday, Opay reiterated its dedication to combating illicit financial activities within the nation.

It reads: “Opay remains committed to working closely with the Central Bank of Nigeria (CBN) and other regulatory bodies to fight money laundering, fraud, terrorism financing, and other illegal financial activities.

“As a regulatory-compliant institution, OPay follows the rules set by the CBN and other regulators to ensure the financial system’s integrity. To achieve this, we have closed non-compliant accounts, implemented strict security measures, and educated customers to help combat fraud.

“To support government efforts to clean up the financial industry, Opay and other Fintechs companies have temporarily paused onboarding new customers and creating new wallets. This action reflects our commitment to a secure financial environment and fighting against illicit activities.

“Please note that existing accounts and wallets remain unaffected by the CBN’s directive. We want to assure our customers that their funds are secure, their data is protected and this is a temporary measure.

“Customer satisfaction is our top priority, and we are committed to promoting financial inclusion and economic growth as key players in Nigeria’s financial ecosystem.”

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