Opay Responds To The New CBN Directives | ClipTV Online

Opay has recently issue a notice to all its customers, assuring them of safe business transactions. The notice also assure the Central Bank of Nigeria (CBN) that the institution is in alignment with all the CBN rules and regulations and will continue to maintain that status

In the notice issued on Tuesday, Opay indicate its commitment to the apex bank and other financial regulatory bodies. The notice read in part “as a regulatory – compliance institution, Opay follows the rules set by the CBN and other regulators to ensure the financial system’s integrity.”

“To achieve this, we have closed all non compliance accounts, implemented strict security measures and educated customers to help combat fraud.”

The financial institution said it is committed to work with the CBN and other regulatory bodies to contend against money laundering, fraud, and other financial crimes.

In conclusion, Opay is not on boarding new customers, however, the CBN directives does not affect existing accounts and wallets. “To support government efforts to clean up the financial industry, Opay and other Fintechs companies have temporarily paused onboarding new customers and creating new accounts. With the caution “please note that existing accounts and wallets remain unaffected by the CBN directives.”