The Global CEO of OPay, Mr Steven Wen, has reaffirmed that compliance with Nigerian laws and regulations remains the company’s top operational priority. He made this commitment during a courtesy visit by OPay’s executive team to the headquarters of the Economic and Financial Crimes Commission (EFCC) in Abuja.
Wen emphasized that OPay’s business philosophy is built on three pillars — regulatory compliance, customer satisfaction, and sustainable growth — with compliance standing as a “red line” the company will never cross.
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“The most important thing in our company is compliance with local laws and regulations. Second is customer satisfaction through innovative solutions that solve real customer problems. Third is revenue growth. But for us, compliance remains a red line we cannot cross,” Wen stated.
He added that OPay will continue to invest in systems, technology, and personnel that enhance transparency, integrity, and trust within the financial ecosystem.
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In response, the Executive Chairman of the EFCC, Mr Ola Olukoyede — represented by the Chief of Staff to the Chairman, Commander of the EFCC, Michael Nzekwe — commended OPay’s proactive engagement and urged the organisation to continue making compliance its operational watchword.
He stressed that the Commission is committed to using anti-corruption frameworks to strengthen Nigeria’s economy and encouraged OPay to maintain robust Know Your Customer (KYC) practices and internal controls.
“Work on KYC, don’t give room for fraud, don’t allow your company to be used for money laundering, and comply with every law of the land,” Mr Nzekwe said.
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He also praised OPay’s over 99% Nigerian workforce, describing it as a commendable contribution to local employment.
Also speaking, the Director of Investigations, Commander of the EFCC, Abdulkarim Chukkol, highlighted the importance of system integrity and vigilance against insider abuse.
“System integrity is very important. Beyond meeting CBN requirements, you must go the extra mile. Insider abuse can undermine even the most secure systems, so strong recruitment and internal controls are essential,” he advised.
OPay reiterated its commitment to collaborating closely with regulators to strengthen consumer protection, enhance financial system safety, and support Nigeria’s broader digital financial inclusion agenda.
OPay was established in 2018 as a leading financial institution in Nigeria with the mission to make financial services more inclusive through technology. The company offers a wide range of payment services, including money transfer, bill payment, card service, airtime and data purchase, and merchant payments, among others.
Renowned for its fast and reliable network and strong security features that protect customer’s funds, OPay is licensed by the CBN and insured by the NDIC with the same insurance coverage as commercial banks.
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