CBN recognises OPay for financial inclusion innovation award
CBN recognises OPay for financial inclusion innovation award
Nigeria leading financial institution OPay has been recognised with the prestigious International Financial Inclusion Conference (IFIC) Award for Financial Inclusion Innovation by the Central Bank of Nigeria (CBN).
The award was presented at the 2024 IFIC, a flagship event that convened global thought leaders, regulators, and industry stakeholders to strategise on accelerating financial inclusion across Africa and beyond.
The award reinforces OPay’s compliance with regulatory standards and its pivotal role in advancing Nigeria’s financial inclusion goals, aligning with the CBN’s mission to achieve a 95 per cent financial inclusion rate.
Through close collaboration with the apex bank and other regulatory bodies, OPay has delivered secure, innovative, and accessible digital financial services to millions of Nigerians, overcoming barriers that have long hindered inclusion efforts.
The award selection process was a comprehensive one which assessed key metrics such as regulatory adherence, technological innovation, customer impact, and contributions to advancing the CBN’s financial inclusion goals.
OPay won the Financial Inclusion Innovation Award, standing out among a competitive pool of financial industry players for its exemplary performance in delivering secure, accessible, and innovative financial solutions.
At the core of OPay’s success is its unwavering commitment to security and regulatory alignment. Its robust platform ensures safe transactions, fostering trust and confidence among users.
“This recognition by the CBN highlights OPay’s dedication to providing innovative, compliant, and inclusive financial solutions,” OPay Chief Executive Officer (CEO), Dauda Gotring, said.
The IFIC Conference provided a platform to address pressing issues in Nigeria’s financial inclusion landscape, including expanding access to financial services, enhancing digital literacy, and strengthening collaboration between regulators and private sector players like OPay.
As Nigeria moves closer to its financial inclusion target, OPay remains steadfast in its commitment to leveraging technology within the framework of regulatory compliance.
The award has not only acknowledged OPay’s contributions but also reinforced the significance of public-private partnerships in building a secure, innovative, and inclusive financial ecosystem that drives sustainable economic growth.
OPay was established in 2018 as a leading financial institution in Nigeria with the mission to make financial services more inclusive through technology.
The company offers a wide range of payment services, including money transfer, bill payment, airtime and data purchase, card service, and merchant payments, among others.
Renowned for its super-fast experience and reliable network, OPay is licensed by the CBN and insured by the NDIC with the same insurance coverage as commercial banks.
