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OPay Denies Reports of Lagos, Abuja Office Seals

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OPay

OPay says reports of Lagos and Abuja office closures are false, affirming its operations continue uninterrupted and regulatory compliance remains intact

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Financial technology company OPay Digital Services Limited has dismissed claims that its offices in Lagos and Abuja were sealed by the Nigeria Revenue Service over alleged tax non-compliance, describing the reports as false and misleading.

Also read: OPay Wins Brand of the Year 2025 for Innovation in Fintech

In a statement released on Thursday, OPay confirmed that its offices nationwide remain open and fully operational, with services to customers, merchants, and partners continuing without disruption.

“Our attention has been drawn to recent reports claiming that our offices were sealed due to non-compliance with Value Added Tax and Company Income Tax obligations. This is not true. Our operations across Nigeria remain uninterrupted,” the company said.

OPay clarified that the notice referenced in the reports stemmed from an industry-wide directive issued by the tax authority asking payment platforms to separately display certain statutory charges for enhanced transparency and easier reconciliation.

The company stressed that the directive applied to the broader payments sector, not OPay specifically.

“The notice arose from a recent industry-wide directive and does not indicate unpaid taxes or enforcement action against OPay. Portraying it otherwise misrepresents the facts,” the statement added.

The firm also criticised selective reporting that singled out OPay, warning that such narratives could harm its reputation despite a history of regulatory compliance.

“Such reporting distorts the facts and appears calculated to undermine a company that has consistently demonstrated transparency and cooperation with regulators,” the company said.

Reaffirming its commitment to Nigeria’s digital economy, OPay stated that it continues to provide secure and inclusive financial services while maintaining full compliance with all statutory and regulatory obligations.

Also read: OPay Scholarship Initiative Nigeria Empowers Students with Unforgettable Support

“For the avoidance of doubt, information suggesting that OPay is shutting down or that its offices have been closed should be disregarded,” the company added.

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Dangote Refinery Sets ₦525 Share Price for Landmark IPO

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Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.

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The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.

The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.

The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.

The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.

The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.

The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.

The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.

The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.

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Glo @23: Staff Unite for a Memorable Sports Celebration

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Glo marks its 23rd anniversary with a lively staff sports fiesta in Lagos, featuring football, games, prizes and celebrations centred on teamwork (more…)

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Adron Group Spotlights Affordable Property at ESG Expo

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Adron Group

Adron Homes affordable land options take centre stage in Lagos as flexible payment plans and property opportunities draw visitors at the 2026 expo (more…)

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