Opay Sends Message To Customers Concerning Funds In Their Account Following CBN’s Directive

Opay Sends Message To Customers Concerning Funds In Their Account Following CBN’s Directive

A leading financial services provider, Opay, has sent its customers a message concerning the safety of their funds amidst recent regulatory actions by the Central Bank of Nigeria (CBN)……READ ALSO

1. **CBN Directive**: Earlier reports indicated that the CBN had barred some online microfinance banks, including Moniepoint, PalmPay, Opay, PiggyVest, and Kuda, from opening new accounts and accepting new customers.

2. **Reassurance**: Opay reassured its customers that their funds are safe despite the regulatory measures. In a statement via its X account on Tuesday, April 30, 2024, Opay emphasized its commitment to fighting illegal financial activities in the country.

3. **Compliance and Integrity**: Opay stated its commitment to working closely with the CBN and other regulatory bodies to ensure the integrity of the financial system. It affirmed its compliance with regulatory rules and measures to combat money laundering, fraud, terrorism financing, and other illicit financial activities.

4. **Temporary Measures**: Opay and other fintech companies have temporarily paused onboarding new customers and creating new wallets in support of government efforts to clean up the financial industry. However, existing accounts and wallets remain unaffected by the CBN’s directive.

5. **Customer Satisfaction**: Opay reiterated its commitment to customer satisfaction, emphasizing that funds are secure, data is protected, and the current measures are temporary. The company aims to promote financial inclusion and economic growth as key players in Nigeria’s financial ecosystem.

Opay’s message reflects its dedication to maintaining regulatory compliance, protecting customer interests, and contributing to a secure financial environment in Nigeria.

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