March 13, (THEWILL) — Fintech firm, OPay, has reacted to reports suggesting that its offices were shut down by Nigeria’s tax authorities, clarifying that the development relates to a broader regulatory notice affecting multiple operators in the financial technology sector.
The company said the enforcement notice issued by the Nigeria Revenue Service (NRS) should not be interpreted as a shutdown of its operations, noting that similar compliance actions have been directed at other companies across the industry.
Recent reports had indicated that officials from the tax agency sealed some OPay offices in Lagos and Abuja over alleged breaches of tax regulations, including issues relating to Value Added Tax (VAT) and Companies Income Tax (CIT).
However, OPay said the development stems from an industry-wide compliance drive following new tax enforcement measures introduced under the Nigeria Tax Act 2025.
According to the company, the notice is part of ongoing regulatory engagements between the authorities and fintech operators, and does not affect customers’ access to services.
The firm also reassured users that its platform and financial services remain fully operational.
“We remain committed to working closely with regulators and relevant authorities to ensure full compliance with all applicable laws and regulations”, the company said in its response.
The enforcement action by the tax authority comes amid growing regulatory scrutiny of Nigeria’s rapidly expanding fintech sector, which has seen significant growth in digital payments, agency banking, and point-of-sale (POS) transactions in recent years.
OPay, which entered the Nigerian market in 2018, has become one of the country’s leading mobile money platforms, offering services such as transfers, bill payments, savings, and merchant payment solutions.
Industry observers say the situation highlights the increasing efforts by regulators to strengthen tax compliance and oversight within the digital economy.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
