Opay To Log Out Accounts By March 1st

OPay, a leading financial technology company, said yesterday it has taken various measures to deepen the integrity and credibility of its platform, disclosing that as from March 1, any account not linked with the owner’s national identity number (NIN) and the bank’s biometric verification number (BVN) would be wielded out.

This is part of implementing the Know Your Customer (KYC) directive by the Central Bank of Nigeria (CBN).

The company stated this at a media briefing in Lagos to unveil their plans for the New Year.

Director, Partnership for Opay, Ik Kolawole Odiase said by March 1, any account holder that is non-compliant with the directive to link his/her BVN and NIN would be logged out of the platform.

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“Any fraudulent account will be wiped off. Going forward, you have to link your NIN and BVN which must both align,” he said.

According to him, the platform has introduced a series of innovations and security measures to protect depositors’ funds, saying, “We are concerned about the safety of depositors’ funds.

Olayemi Priscilla, Head of Card Business disclosed that the company successfully issued more than 5 million Opay Verve cards to customers as of December 2023.

Priscillia added that the company has 17 physical locations across the country that can offer customer service physically in its drive to make financial services more inclusive.

She stated that a robust and responsive online customer service centre is being made available for users who prefer online inquiries and technical resolutions.

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“Opay has established a network of 17 customer service centres across the country, catering to individuals who prefer face-to-face interactions for their service-related queries and concerns.

“For users who prefer online inquiries and technical resolutions, a robust and responsive online customer service centre awaits,” she added.

On corporate social responsibility, Olayemi noted that the company supported 1,300 children, five primary and secondary schools and five communities in two cities.

Priscillia noted that two tertiary institutions were reached in two cities, completed three projects, adding that the company is building branches in universities starting with the University of Lagos.

She said, “Opay is dedicated to providing secure, easy-to-use and affordable financial services with a superfast user experience, an amazing incentive package on transfer/airtime and data top-up, an innovative product to use as balance with amazing daily interest…”