Federal Competition and Consumer Protection Commission (FCCPC) has ordered Opay, fintech company to explain account anomalies Nigerians have identified in the last few days.
This is coming after complaints by Nigerians who claimed their names and phone numbers were used to open an Opay account, without them actually opening the account with the company.
As a fintech company, OPay uses users’ mobile numbers as their account numbers because it is a regulated mobile money provider.
However, it is not yet obvious how individuals who have not contacted the business to register an account are seeing their number as an OPay account with their full identities.
In his reaction, Mr. Babatunde Irukera, chief executive officer, FCCPC, called on OPay to explain how this is happening and promised to provide an update.
“OPAY is bound to @fccpcnigeria to address and explain this and other anomalies consumers have identified in the last few days,” he said in his X post while responding to posts on the issue.
Opay, in its reaction, said: “We are now analysing what happened internally after seeing these tweets yesterday. We ensure that all wallet owners are properly registered. It’s possible that some users have interacted with the platform at some point; but, before we answer, I need to hear from my colleagues and review the results of our inquiry.”