Nigerian fintech company OPay has won two awards at the 14th BusinessDay Banks and Other Financial Institutions (BAFI) Awards 2026, receiving the Digital Bank of the Year and Financial Inclusion Leader of the Year titles.

The awards ceremony took place on October 9, 2026, at the Civic Centre in Lagos, recognising organisations and individuals across Nigeria's financial services industry.

The recognition highlights OPay's role in expanding access to digital financial services through mobile payments, agency banking, merchant services and other financial products.

Founded in 2018, OPay serves individual customers, merchants and businesses through a range of digital and offline channels. Its services include money transfers, bill payments, airtime and data purchases, card services and merchant payments.

OPay Recognised for Digital Banking Services

OPay's Digital Bank of the Year award recognises its position in Nigeria's increasingly competitive digital financial services market.

The company allows customers to conduct everyday financial transactions through its mobile application, USSD services, payment cards and digital wallets. Its network of agents and merchants also provides additional access points for customers who may not rely entirely on conventional banking channels.

These services support everyday activities such as sending money, paying bills and receiving business payments without requiring customers to visit a traditional bank branch for every transaction.

Digital financial platforms have become an important part of Nigeria's financial ecosystem, particularly as consumers and small businesses increasingly use electronic payments to manage transactions.

For OPay, the award provides recognition of its efforts to make these services available through a combination of digital technology and physical payment networks.

Financial Inclusion Remains a Key Part of OPay's Strategy

The company's second award, Financial Inclusion Leader of the Year, focuses attention on its role in extending financial services to more Nigerians.

Financial inclusion involves making appropriate and affordable financial products accessible to individuals and businesses, including people who face barriers to using traditional banking services.

OPay's combination of mobile services, USSD access, payment cards and agency banking gives customers multiple ways to access its platform.

Its merchant and agent networks also support small businesses that need to accept payments, transfer money and manage daily transactions.

These channels can help reduce some barriers associated with accessing financial services, although the overall impact of digital banking on financial inclusion also depends on factors such as affordability, network access, customer awareness and consumer protection.

The awards come as fintech companies continue to play a significant role in Nigeria's shift towards digital payments and alternative financial service channels.

OPay Highlights Security and Customer Experience

Commenting on the recognition, OPay's Chief Operating Officer and Chief Technology Officer, Dotun Adekunle, thanked BusinessDay for recognising contributions to Nigeria's financial services sector.

Adekunle said the awards reaffirmed the company's focus on providing reliable and secure services that deliver value to customers.

He also reiterated OPay's customer-focused message: “Our services are Okay, our people are Okay, and OPay is Okay.”

Security and reliability remain important considerations for digital financial platforms, where customers depend on providers to process transactions and protect their funds.

OPay says it uses security measures to safeguard customer accounts and describes its services as licensed by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC), subject to the applicable deposit insurance framework.

What the Awards Mean for Nigeria's Fintech Sector

OPay's double recognition reflects the growing importance of digital financial services in Nigeria, where fintech companies compete to serve consumers, merchants and businesses with increasingly accessible payment options.

The combination of mobile applications, USSD services and agent networks illustrates how providers can reach customers with different levels of internet access and varying financial needs.

However, awards alone do not establish the scale of a company's impact on financial inclusion. Measures such as active account usage, access among underserved populations, transaction reliability and customer protection are also important when assessing progress.

For OPay, the BAFI Awards provide an opportunity to highlight its services and reinforce its position in the country's digital finance market.

As competition continues, the company's ability to maintain reliable transactions, protect customers and expand meaningful access to financial services will remain central to its long-term performance.

About OPay

Established in 2018, OPay is a digital financial services provider operating in Nigeria. Its offerings include money transfers, bill payments, airtime and data purchases, card services and merchant payments.

The company operates through digital and agent-based channels and states that it is licensed by the Central Bank of Nigeria and insured by the Nigeria Deposit Insurance Corporation under the applicable deposit insurance arrangements.