OPay Faces Scrutiny Over Unauthorized Account Openings

In a recent turn of events, OPay, a renowned fintech company in Nigeria, has come under the spotlight as numerous Nigerians have reported discovering accounts registered in their names without their knowledge or consent. This revelation has caused a stir on social media platforms, with many expressing their concerns and seeking clarity on the matter.

The issue first came to light when users on the social media platform, X, began sharing their discoveries. Many were taken aback to find that their mobile numbers were being used as account numbers for OPay, despite never having registered with the platform. OPay, known for using customers’ mobile numbers as account identifiers, is now faced with questions regarding the unauthorized account openings.

Nairametrics, in an attempt to verify these claims, conducted a test using a phone number that had never been registered with OPay. The results were startling. Not only did the number bring up a full name when used as an account number, but a test transaction also went through successfully. This raised further questions about the security and authenticity of these accounts.

Several users took to X to share their experiences. One user, @hackSultan, expressed his disbelief, stating, “I just checked now and someone, I have an OPay account, same with every member of my family. None of us has ever opened an OPay account. How’s this even legal?” Many others echoed similar sentiments, confirming the existence of OPay accounts linked to their mobile numbers.

The Federal Competition and Consumer Protection Commission (FCCPC) has taken note of the situation. Mr. Babatunde Irukera, the Chief Executive Officer of the FCCPC, stated that OPay would need to provide explanations for these anomalies. He assured the public that the commission would seek answers and provide updates on the matter.

In response to the growing concerns, OPay has launched an internal investigation. Kunle Adeyemi, the company’s Head of Marketing, acknowledged the complaints and stated that the company is actively reviewing the situation. He suggested that some of the affected individuals might have had prior interactions with OPay, but emphasized the need for a thorough internal review before providing a comprehensive response.

As the situation unfolds, many are awaiting OPay’s official statement and explanations. The discovery has raised questions about data privacy and the security measures in place to protect consumers in the fintech sector.