OPay Denies Shutdown Rumour as Revenue Jumps 161% to $536.3m in 2025

OPay has dismissed a viral social media claim that it plans to suspend operations from September 1, describing the report as false and misleading.

The claim, which circulated across multiple social media platforms on Sunday, urged customers to withdraw their funds ahead of an alleged shutdown of the fintech’s operations.

The message raised concerns among some users and reportedly prompted precautionary withdrawals.

OPay, however, said its services remain fully operational and that it has no plans to suspend business activities.

“This is FALSE. OPay is not going on break by September. We’re here, and we’re going nowhere!” the company said in a statement shared through its verified social media channels.

The fintech urged customers to verify information through its official communication platforms before acting on or sharing unverified claims.

According to OPay, the viral publication contained several signs that it did not originate from the company, including an incorrect logo, spelling errors, an unfamiliar communication template and inaccurate information.

“Always verify before you share. Filter the noise! Follow our official pages for authentic OPay updates,” the company said.

The clarification comes amid growing attention around OPay’s expansion plans, including reports that the fintech is considering a listing on the Nigerian Exchange (NGX).

A potential NGX listing could rank among the largest technology-related listings in Nigeria’s capital market. OPay is also reportedly exploring an initial public offering in the United States, where it is targeting a valuation of approximately $4bn.

It remains unclear whether the proposed NGX listing would take place alongside the US IPO or form part of a subsequent dual-listing strategy.

The shutdown claim comes as OPay records a significant improvement in its financial performance.

The Fintech reported a net profit of $72.47m in 2025, reversing a $50.98m loss recorded in 2024.

Revenue surged 161 percent to $536.25m in 2025 from $205.73m a year earlier, driven by increased transaction volumes, user growth and expansion of its lending business.