Leading Nigerian fintech company OPay has warned that freedom of expression does not protect individuals who deliberately spread false, defamatory or unlawful information capable of damaging businesses, misleading customers or disrupting financial services.
The warning comes amid a wave of viral social media posts alleging that OPay was shutting down its operations or going on a “long indefinite break”, with some posts reportedly urging customers to withdraw their funds. OPay has dismissed the claims as false and described the publications as part of a coordinated smear campaign aimed at damaging its reputation and commercial interests.
Key Highlights
- OPay says it remains fully operational and has no plans to suspend its services.
- The fintech firm has rejected viral claims that it was shutting down operations.
- OPay says the posts constitute false, malicious and defamatory publications.
- The company has issued cease-and-desist notices to individuals accused of spreading the claims.
- OPay has involved the Department of State Services (DSS) and the Nigeria Police Force in investigating the misinformation.
- The company says legitimate criticism is different from unlawful defamation and deliberate misinformation.
- Customers have been urged to rely on OPay’s verified communication channels for information about its services.
OPay Moves Against Viral Shutdown Claims
OPay said the false claims circulated widely across social media platforms, including X and TikTok, prompting the company to take legal and regulatory steps to protect its reputation and customers.
In formal cease-and-desist letters and public statements issued in late August and early September 2026, the company’s legal team, led by Chief Legal Counsel Akinfolabi Rokosu, described the publications as “false, malicious, unlawful, libellous and defamatory.”
The company reportedly issued notices to specific social media users demanding the permanent removal of the posts, publication of clear retractions and unreserved apologies.
OPay said the legal action was necessary because false information about a financial institution could create unnecessary panic among customers and potentially cause financial losses.
OPay Involves DSS, Police in Investigation
The fintech company has also escalated the matter by involving the Department of State Services and the Nigeria Police Force to investigate the origin and circulation of the alleged misinformation.
Speaking at a press conference in Lagos, Rokosu stressed that the company’s position was not aimed at restricting legitimate freedom of expression.
“This is not about silencing anyone,” he said, while warning that individuals responsible for unlawful publications could face legal consequences.
According to the company, freedom of expression does not extend to deliberately publishing false information that causes or is capable of causing harm to individuals, businesses or the wider financial system.
Read also:
- OPay Working With DSS, Police To Identify Suspects Behind Shutdown Rumour
- OPay Denies September 1 Shutdown Rumour, Assures Customers Operations Will Continue
OPay Reassures Customers Over Operations
OPay Chief Operating Officer and Chief Technology Officer, Dotun Adekunle, reassured customers that the company remains operational and continues to provide its services.
Adekunle said OPay remains licensed by the Central Bank of Nigeria and has no plans to suspend its operations.
Some of the viral messages had reportedly claimed that OPay would shut down from September 1, 2026. That date has passed, while OPay’s services have continued.
The company said the continued operation of its services further demonstrates that the shutdown claims were false.
OPay also stated that the Central Bank of Nigeria had classified the circulating shutdown claims as fake news.
Company Steps Up Social Media Monitoring
OPay said it is actively monitoring social media platforms, documenting posts and preserving evidence as it pursues available legal remedies against individuals involved in creating or amplifying the alleged false narratives.
The company warned members of the public to exercise caution before sharing unverified information about financial institutions.
It urged customers and other members of the public to obtain information about its operations, products and services through its official communication channels.
OPay Draws Line Between Criticism and Defamation
The fintech firm maintained that it recognises the right of members of the public to express opinions and raise legitimate concerns about its services.
However, it said criticism must be distinguished from deliberate publication of false claims presented as facts.
OPay reaffirmed its commitment to protecting its customers, corporate reputation and the integrity of Nigeria’s digital financial services ecosystem.
The company also urged Nigerians to verify sensational claims before sharing them, particularly information capable of triggering unnecessary panic among customers of financial institutions.
The dispute highlights the growing challenge faced by digital financial service providers as social media platforms become increasingly influential in shaping public perceptions and spreading information about businesses.
