Connect with us

Hi, what are you looking for?

Tech

Opay Vows to Block Accounts Not Linked to NIN in line with CBN Regulatory Guidelines

OPay
OPay

Leading the charge in mobile-based payments, OPay has pledged to implement a thorough removal process for accounts lacking a Bank Verification Number (BVN) and/or National Identification Number (NIN) starting March 1, 2024.

This commitment follows the recent directives from the Central Bank of Nigeria (CBN) on Know-Your-Customer (KYC) requirements, mandating all individual accounts and wallets to be linked with BVN and/or NIN before the specified deadline.

Additionally, CBN has stipulated that no new accounts or wallets will be permitted without the inclusion of BVN or NIN.

During a media briefing in Lagos on Wednesday, Priscilla Olayemi, the Director of Card Business at OPay, affirmed the company’s dedication to complying with these directives by initiating the initial phases of the KYC process.

Olayemi clarified that users with tier one accounts must provide their BVN or NIN to access financial transactions, and for new account registrations, OPay now requires the submission of BVN or NIN details.

I.K Odiase, the Director of Partnerships at OPay, emphasized that any accounts identified as fraudulent will be promptly removed from the OPay platform, effective March 1, 2024.

Odiase urged OPay customers to verify that the information provided during account registration aligns with their NIN and BVN records, stating, “We are strictly following CBN’s instructions, and accounts with conflicting information will be terminated.”

Addressing security concerns, Adekunle Adeyemi, Head of Marketing and Communications at OPay, highlighted the company’s ongoing efforts to educate and inform customers about potential fraud risks. Through in-app messages and social media channels, OPay aims to keep customers vigilant and aware.

Adeyemi also emphasized the security infrastructure in place, including USSD codes that customers can utilize to secure their accounts in case of theft or compromise.

“In addition to implementing robust security measures, we offer USSD codes that customers can dial if they suspect any compromise to their accounts. Our goal is to ensure our customers are well-protected under any circumstances,” affirmed Adeyemi.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

ad

You May Also Like

Tech

The maker of ChatGPT on Thursday unveiled its next leap into generative artificial intelligence with a tool that instantly makes short videos in response...

News

Federal Airports Authority of Nigeria, FAAN, has reopened the 3.9km 18R/36L runway at Murtala Muhammed International Airport, MMA, Lagos. The runway, closed in April...

Tech

Sophos announced Thursday that Kris Hagerman has stepped down as CEO of the cybersecurity giant after more than a decade, and a top executive...

News

Enugu State High Court sitting in Enugu, the state capital, has found a man, Okolie Chigozie Michael, 32, guilty of killing his son. He...