Financial technology company, OPay, has dismissed reports circulating on social media that it is shutting down operations in Nigeria, revealing that it has formally requested investigations by the Department of State Services (DSS) and the Nigeria Police Force into the source and spread of the alleged false information.

OPay's Chief Legal Counsel, Akinfolabi Rokosu, disclosed this during a press conference in Lagos, where he maintained that the fintech company remains fully operational and has no plans to shut down its services in the country.

According to Rokosu, the company considered the rumour sufficiently serious to warrant the involvement of security agencies because of its potential to create panic among customers, disrupt confidence in the Nigerian financial system and cause financial losses.

He said the DSS and the Police are already investigating the circumstances surrounding the circulation of the information, adding that OPay is cooperating with the relevant authorities and has provided evidence that could assist in identifying those responsible.

“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 for it,” Rokosu said.

The Chief Legal Counsel further disclosed that OPay intends to pursue legal action against persons found responsible for originating or deliberately circulating the shutdown claim.

“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 stated.

He warned against the deliberate dissemination of false information capable of damaging the company's operations or undermining public confidence, stressing that those found culpable should be prepared to face the consequences prescribed by law.

“Anyone who deliberately engages in similar conduct should expect decisive legal action and the full consequences provided by the law. This is not about silencing anyone. OPay is not going to be silenced,” Rokosu added.

The fintech company consequently reassured its customers, partners and members of the public that its operations in Nigeria remain active, while urging the public to disregard claims suggesting that the company is shutting down.