The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has urged Opay to prioritise strict compliance with Nigeria’s financial regulations to protect the integrity of its operations and curb money laundering and fraud.
Olukoyede gave the charge on Thursday during a courtesy visit to the EFCC headquarters in Abuja by Opay’s Chief Executive Officer, Steven Wen, and other senior officials. He was represented by his Chief of Staff, Commander of the EFCC (CE) Michael Nzekwe.
Nzekwe stated that the EFCC chairman remained committed to using anti-corruption mechanisms to support Nigeria’s economic stability, stressing that adherence to existing laws was essential for all fintech operators.
He also commended Opay for its high level of local content in employment but warned that compliance must be demonstrated through consistent action.
Director of Investigation at the EFCC, CE Abdulkarim Chukkol, further highlighted the need for Opay to strengthen system integrity and guard against insider abuse.
In his remarks, Wen affirmed that Opay places great importance on regulatory compliance, customer satisfaction, and sustainable business growth.
He noted that the company remains committed to innovative solutions that deliver value to customers while staying fully compliant with national regulations.
“One of our strongest principles is compliance with local laws and regulations. Customer satisfaction comes next, through innovation and value-driven services. The third is revenue growth. Compliance with the law is a red line we cannot cross,” he added.