OPay

The growing disruption of Nigeria’s banking industry by financial technology companies has taken a new turn, with OPay’s Nigerian operations generating about ₦575 billion in revenue in the first half of 2026, surpassing the gross earnings reported by Wema Bank and narrowing the gap with some established banking groups.

The fintech company disclosed its intention in a Form F-1 registration statement filed with the United States Securities and Exchange Commission on October 9, 2026. OPay is pursuing an initial public offering of American Depositary Shares and has applied to list on the New York Stock Exchange under the proposed ticker symbol OPAY.

OPay has won two major fintech categories at the 2026 Consumers Value Awards (CVA), emerging as the Most Trusted Brand (FinTech) and Most Consumer Friendly/Innovative FinTech Brand.

Eight years after entering the Nigerian market, financial technology company OPay is evolving from a digital payments platform into a broader financial services provider, reflecting the changing way Nigerians access and manage money.

Standard Bank is considering a stake in OPay ahead of the fintech’s proposed US IPO, which could value the company at about $4 billion. OPay’s Nigerian business accounted for 88.1 percent of its revenue in 2025, while gross...

OPay delivered a $72.47 million net profit in 2025 following a $50.98 million loss the previous year. Annual revenue surged 161 percent to $536.25 million while processed transactions hit $358 billion. Rapid expansion into digital lending drove the...

April 10, (THEWILL) — Nigeria’s agent banking ecosystem is entering a new phase, following updated guidelines by the Central Bank of Nigeria (CBN), to address long-standing issues such as fraud, failed transactions, and inconsistent service delivery. Introduced on April...

March 13, (THEWILL) — Fintech firm, OPay, has reacted to reports suggesting that its offices were shut down by Nigeria’s tax authorities, clarifying that the development relates to a broader regulatory notice affecting multiple operators in the financial technology...

December 02, (THEWILL) - The Federal Government has commenced the implementation of the N50 Electronic Money Transfer Levy on transactions of N10,000 and above conducted through financial technology platforms, including Moniepoint and Opay. The levy, introduced under...

November 26, (THEWILL) - OPay,  a fintech company has announced a strategic partnership with AfriGO Card, to enhance the availability of digital payment services to Nigerians. AfriGO card is powered by Afrigopay Financial Services Limited (AFSL), a subsidiary of the...