A viral message warning OPay customers to withdraw their money before an alleged September 1 shutdown has been dismissed by the fintech as false and misleading.

The message began circulating across social media on Sunday, telling users that OPay would suspend its operations from September and urging customers to move their funds ahead of the alleged closure.

For a financial service used by millions of Nigerians, the claim was enough to create concern among some customers, with reports of users making precautionary withdrawals after seeing the message.

But OPay says there is no planned shutdown.

OPay: “We’re here, and we’re going nowhere”

The fintech addressed the claim through its verified social media channels, assuring customers that its services remain operational.

OPay said it has no plans to suspend its business activities or “go on break” in September.

The company described the circulating message as false and encouraged customers not to act on unverified information.

The fintech also pointed users towards its official communication channels for reliable updates, particularly when information concerns their accounts or money.

According to OPay, the viral message itself contained several warning signs.

The company pointed to an incorrect logo, spelling mistakes, an unfamiliar communication format and other inconsistencies that suggested the message did not originate from OPay.

That detail is important because financial misinformation does not always arrive in the form of an obviously suspicious message.

A fake announcement can be designed to look sufficiently legitimate to encourage people to act before they stop to verify it.

And when the subject is a customer's money, even a short-lived rumour can have real consequences.

Why the rumour matters

A claim that a fintech is about to shut down can trigger a very different reaction from an ordinary social media rumour.

Customers may rush to withdraw their funds.

Others may forward the message to friends and family.

Some may click links attached to fake announcements in an attempt to “secure” their accounts.

That creates an opportunity for a second layer of fraud.

A false shutdown announcement could therefore be used not only to create panic but also to direct customers towards phishing pages, fraudulent customer-service accounts or other scams.

This is why OPay's advice to verify financial information before acting is particularly relevant.

The safest response to a dramatic financial announcement is not to forward it immediately or act on instructions contained in the message.

It is to check whether the same information appears through the institution's verified communication channels.

The rumour comes as OPay continues to expand

The shutdown claim also appears at odds with reports about OPay's wider business ambitions.

The fintech has reportedly been exploring a potential listing on the Nigerian Exchange (NGX), a move that could make it one of the country's most significant technology-related listings if completed.

There have also been reports that OPay is considering a potential initial public offering in the United States, with the company reportedly targeting a valuation of around $4 billion.

It remains unclear whether a Nigerian listing would occur alongside a US IPO or whether the reported possibilities form part of a broader capital-markets strategy.

What is clear is that these reported plans point towards expansion rather than an immediate withdrawal from the Nigerian market.

However, reported expansion plans should not be confused with an official confirmation of any future listing.

For customers, the most important information remains OPay's current position: the company says its operations are continuing and that the September shutdown claim is false.

OPay's financial performance tells a different story

The closure rumour also contrasts sharply with OPay's reported financial performance.

The company reportedly swung to a $72.47 million net profit in 2025, reversing a $50.98 million loss in 2024.

Revenue reportedly increased by 161% to $536.25 million, compared with $205.73 million the previous year.

The growth was attributed to increased transaction volumes, user growth and the expansion of OPay's lending business.

That turnaround provides important context.

Rather than a business publicly signalling an imminent operational shutdown, OPay's reported financial results show a company that significantly improved its financial performance during 2025.

Financial performance, however, does not by itself prove what a company may or may not do in the future.

That is why customers should separate confirmed information from speculation, rumours and reported plans.

How to spot a fake financial announcement

OPay's response also highlights a broader problem facing Nigeria's increasingly digital financial ecosystem.

Customers are receiving more financial information through WhatsApp, X, Facebook, Instagram, Telegram and other social platforms.

The speed of these platforms makes misinformation particularly difficult to contain.

A message can reach thousands of people before the company affected has an opportunity to respond.

Customers can protect themselves by checking for basic warning signs:

1. Check the source.
Is the announcement coming from the company's verified account or official website?

2. Examine the branding.
Incorrect logos, unusual fonts and poor-quality graphics can indicate that a message is fake.

3. Look for spelling and formatting errors.
Large financial institutions generally have established communication formats. Significant deviations should raise questions.

4. Don't trust forwarded messages simply because they came from someone you know.
A friend or family member may have forwarded the message without verifying it.

5. Never enter your banking information through an unfamiliar link.
A fake announcement can be used as bait for phishing.

6. Verify before moving your money.
If a message claims that a financial institution is shutting down, check directly with the institution before taking action.

The bigger issue: financial misinformation can move faster than facts

The OPay rumour is another reminder that social media has become part of the financial information ecosystem.

That creates both an opportunity and a risk.

Customers can receive important updates instantly.

But they can also receive fabricated announcements that look official enough to trigger panic.

For fintech customers, the ability to verify information is therefore becoming almost as important as the ability to use the financial service itself.

The lesson from this episode is simple:

When a message tells you to move your money urgently, slow down before you act.

Check the company's verified platforms.

Visit the official website.

Contact customer support through an authorised channel.

And most importantly, do not allow urgency created by an unverified message to make the decision for you.

For now, OPay says the September 1 shutdown claim is false and that its operations remain unaffected.

The viral message may disappear from social media as quickly as it appeared.

But the broader lesson will remain relevant: when your money is involved, verify first.