OPay has escalated its response to viral claims that it plans to suspend its operations indefinitely, threatening legal action against three social media users accused of spreading the information and encouraging customers to withdraw their funds.

The fintech issued legal notices dated August 31 and September 1, 2026, to two users on X and one TikTok account: Adamu B. Garba II, @viralgrabtvng, and Cute Hafserh.

The notices, signed by OPay’s Chief Legal Counsel, Akinfolabi Moses Rokosu, describe the claims as false, harmful and defamatory.

OPay has demanded that the disputed posts be removed, retracted and followed by public apologies. It also warned that continued publication of similar claims could result in further legal action.

The development comes days after a separate viral message circulated online claiming that OPay would stop operating from September 1 and urging customers to withdraw their money.

OPay has repeatedly denied the claim.

How the OPay shutdown rumour spread

The controversy began with social media posts claiming that OPay was preparing to suspend its operations indefinitely.

The messages reportedly encouraged customers to move their funds before the alleged shutdown.

Because the claims involved a financial institution, they carried a different level of risk from ordinary online misinformation. Customers who believed the posts could immediately respond by withdrawing money, transferring funds to other platforms or stopping their use of OPay's services.

OPay subsequently used its verified social media channels to deny the reports, saying that it remains fully operational and licensed.

The company also pointed users towards its official communication channels and warned customers against relying on unverified information circulating online.

The fintech said the viral message contained several signs that it was not an authentic OPay communication, including an incorrect logo, spelling mistakes and an unfamiliar format.

OPay turns from public denial to legal action

OPay's latest move takes its response a step further.

Rather than simply issuing another public denial, the fintech has directly targeted three accounts that it says helped circulate the shutdown claims.

In its notice to Adamu Garba, OPay alleged that he published a post on August 30 claiming that the fintech was going on an extended break and advising customers to move their funds.

The company also took issue with the alleged promotion of Crowwe Wallet as an alternative.

OPay said the combination of the shutdown claim and the recommendation to move funds was particularly damaging because it could encourage customers to transfer money based on information the company considers false.

Garba was given a deadline of 11:59 p.m. on September 1 to delete the post, retract the claim and issue a public apology.

OPay sent a similar notice to the TikTok account @viralgrabtvng, alleging that the account published a video on August 30 repeating the claim that OPay would suspend its operations indefinitely and encouraging customers to withdraw their funds.

Cute Hafserh was also issued a legal notice over a similar post.

OPay demanded that the content be removed and called for a retraction and public apology.

The company warned that failure to comply could lead to further legal action.

One of the users has already apologised

The dispute has already produced at least one public response.

Cute Hafserh subsequently issued an apology after receiving OPay's legal notice and acknowledged the issue surrounding the earlier publication.

It remains unclear whether the other recipients will comply with OPay's demands or whether the fintech will proceed with formal court action.

For now, however, the legal notices demonstrate how seriously the company is treating the claims.

Why misinformation about a fintech is different

The OPay incident highlights an increasingly important problem for digital financial companies.

Misinformation about a company can damage its reputation, but misinformation about a bank or fintech can also influence people's immediate financial decisions.

If thousands of customers suddenly believe that their financial platform is about to shut down, they may attempt to withdraw or transfer their funds simultaneously.

That can create unnecessary panic even when the underlying claim is completely false.

For a fintech, therefore, customer confidence is part of the product.

People need to believe that their money will remain accessible, transactions will continue working and the platform will still be available when they need it.

A viral shutdown rumour directly attacks that confidence.

Social media has changed the speed of financial misinformation

The incident also shows how quickly social media can transform an unverified claim into a business problem.

A single post can be shared across X, TikTok, WhatsApp and other platforms before the company has an opportunity to respond.

By the time an official statement is released, thousands of users may already have seen the original claim.

This creates a difficult balancing act for financial companies.

They need to respond quickly enough to prevent misinformation from spreading, while also avoiding responses that inadvertently give greater visibility to the original rumour.

OPay's decision to identify and send legal notices to individuals it believes were responsible for spreading the claims represents a more aggressive approach.

The timing is particularly significant for OPay

The controversy comes as OPay is reportedly exploring opportunities to access public capital markets.

The fintech has been linked to potential plans for a listing on the Nigerian Exchange, while reports have also suggested that it is considering a potential US initial public offering that could value the company at approximately $4 billion.

If those plans progress, maintaining customer and investor confidence becomes even more important.

A company preparing for a potential public-market transaction needs to demonstrate not only financial performance but also strong governance, operational stability and the ability to manage reputational risks.

An online claim that a major fintech is shutting down could therefore become more consequential than a normal social media rumour.

It can affect customers, business partners and potentially perceptions of the company's stability.

OPay says it remains operational

OPay's position has remained consistent throughout the controversy: it says the shutdown claim is false and that its services remain operational.

The fintech has also said that it is actively monitoring social media posts relating to its operations.

That monitoring is becoming increasingly important as financial services move further online.

Unlike traditional banks, fintech companies often have a relationship with customers that is almost entirely digital. Customers may interact with the company through an app, social media account, notification or digital payment rather than a physical branch.

That makes official digital communication particularly important when rumours emerge.

The bigger issue is verification

The OPay episode is also a reminder to consumers that financial information shared online should be treated carefully.

A post that looks official is not necessarily official.

Before withdrawing money, closing an account or moving funds because of something seen online, users should verify the information through the company's official website, verified social media accounts or customer-support channels.

This is particularly important when a message creates urgency.

Instructions such as "withdraw your money now," "the company is shutting down tomorrow" or "move your funds before it is too late" should immediately trigger additional verification.

Urgency is one of the most effective ways misinformation can influence behaviour.

A growing challenge for African fintech

OPay's response reflects a broader challenge facing Africa's rapidly expanding digital-finance industry.

As millions of consumers move from cash and traditional banking into fintech apps and digital wallets, the consequences of misinformation become larger.

The same platforms that allow fintechs to reach millions of customers also allow false claims about those companies to reach millions of people.

For fintechs, reputation management can therefore no longer be treated as a secondary communications function.

It is increasingly connected to customer retention, financial stability and business continuity.

The OPay case shows how seriously companies may respond when online claims begin to affect confidence in their services.

For users, the lesson is equally important: viral does not mean verified.

And when the subject is your money, verifying a claim before acting on it can be far more important than being among the first people to share it.

TechCrier Take

OPay's legal threats show that misinformation about financial institutions is entering a new phase.

A false shutdown claim is not just a reputational problem when customers can respond by moving their money within seconds.

As African fintechs continue to scale, companies will have to become faster and more aggressive at correcting false information, while users will need to become more careful about what they believe and share online.

The next time a message tells you to withdraw your money immediately, don't share it first. Verify it first.