OPay has sent legal notices to three social media users for spreading false claims about the company. They claimed that OPay would be going on an indefinite break and advised customers to withdraw their funds.
The notices were dated August 31 and September 1, 2026, and targeted two accounts on X (formerly Twitter) and one on TikTok. The people involved are Adamu B. Garba II (@adamugarba on X), the TikTok account @viralgrabtvng, and Cute Hafserh (@haifah_er_abba on X). The notices were signed by OPay’s Chief Legal Counsel, Akinfolabi Moses Rokosu.
OPay claims Garba posted on August 30 that the company would shut down for a long time and told customers to move their money. OPay also mentioned that Garba’s post promoted an alternative wallet, Crowwe Wallet, along with his claim. They deemed his post to be false, harmful, and defamatory. The company gave him until 11:59 p.m. on September 1 to delete the post, issue a public apology, and retract the statement.
The TikTok account @viralgrabtvng received a similar notice for a post made on the same day, August 30, spreading the same rumour about an indefinite shutdown and encouraging people to withdraw their funds. OPay demanded the removal of the content and called for a retraction and an apology.
Similar read: OPay eyes landmark Nigerian listing ahead of potential $4B US IPO
Cute Hafserh received another notice on August 31 for a post making the same claim. The fintech described that post in the same negative terms and asked for it to be taken down immediately.
In all three notices, the fintech warned that it would take legal action if the users continued to share these false claims. The company said it is actively monitoring posts about its operations. In a separate statement, the fintech said, “We’ve issued more warnings today to those spreading false information about OPay,” adding that they are still fully licensed and operational.
OPay in the spotlight as it eyes a public listing
The timing surrounding this controversy is significant. OPay is currently considering a listing on the Nigerian Exchange, which would provide Nigerian investors with their first direct opportunity to invest in the company. An official announcement regarding the listing is expected soon.
Additionally, the company is also preparing for a potential IPO in the United States, aiming for an estimated valuation of around $4 billion.
For a company managing two major listing processes simultaneously, unverified claims about an “indefinite break” pose a serious reputational risk. Rumours can escalate quickly, especially if customers start to act based on these inaccuracies, even if they are unfounded.
OPay’s prompt and public legal response indicates that the company is taking this situation very seriously. They recognise that maintaining confidence and trust is crucial at this point in their growth journey, and they cannot afford to lose that.
Also read: Inside OPay: CTO reveals the technology powering 100 million daily transactions
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