After Introducing Tool to Secure Customers’ Fund, OPay Wins Financial Inclusion Innovation Award

• The International Financial Inclusion Conference Award for Financial Inclusion Innovation has been given to OPay by the CBN
• The award highlights OPay's support of Nigeria's goals for financial inclusion in line with CBN's goal of a 95% financial inclusion rate by 2024
• OPay CEO said the company distinguished itself from other participants in the financial sector by offering secure and convenient financial solutions

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

OPay, a Nigerian financial institution, has been recognized by the Central Bank of Nigeria with the International Financial Inclusion Conference Award for Financial Inclusion Innovation.

The award was given at the 2024 International Financial Inclusion Conference, which brought together regulators, industry stakeholders, and world leaders to discuss ways to accelerate financial inclusion in Africa and beyond.

This emphasizes OPay's contribution to Nigeria's financial inclusion objectives, which coincide with the CBN's goal of a 95% financial inclusion rate by 2024.

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OPay has removed obstacles to inclusion by working with the CBN and other regulatory agencies to offer millions of Nigerians safe and easily accessible digital financial services.

Speaking on the recognition, OPay’s Chief Executive Officer, Dauda Gotring, said,

“This recognition by the CBN highlights OPay’s dedication to providing innovative, compliant, and inclusive financial solutions.”

Gotring said that OPay stood out from other financial industry players for its performance in providing safe and easily accessible financial solutions.

The award selection process evaluated metrics like regulatory adherence, technological innovation, customer impact, and contributions to the CBN's financial inclusion goals.

According to the PUNCH, OPay, a leading financial technology company, won the 12th Annual Banks and Other Financial Institutions Awards' "Mobile Payment Solutions Provider of the Year" title.

Legit.ng earlier reported that OPay, a well-known provider of financial technology, has added a new tool called Nightguard to further secure customers' funds.

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The company disclosed this in a statement detailing its efforts to combat the surge in illegal financial activities and protect consumers' assets.

PoS operators seek further review of charges

Legit.ng reported that the Central Bank of Nigeria (CBN) and the Office of the Vice President have been urged by the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) to examine the five percent fee on PoS transactions that its members are required to pay.

AMMBAN requested that the Vice President and the CBN examine the charges and make sure that businesses give their agents the money and assistance they require.

According to the group, the operators' burden has increased with the recent implementation of the 5% agent charge.

Source: Legit.ng