Business Hilights
Tracking Nigeria's Headline Business News Online

OPay to deepen offerings after getting CBN’s license for money transfer

New entrant to Nigeria’s e-Commerce space, OPay has announced successful access of the Central Bank of Nigeria’s (CBN) approval to commence international money transfer in Nigeria.

Business Hilights gathered that OPay, a provider of payment, ride-hailing, food delivery and loan services, will use the license to among other things, start facilitating B2B, B2P and P2P remittance services into Nigeria.

Earlier OPay had announced $50 million fund raised from a major venture capitalist some months ago.

According to the Director of Remittances Services at OPay, Kunle Olamuyiwa, “The plan is to distort the remittance space and ensure that international money transfer into Nigeria is safer, faster and more affordable”

He averred that “With OPay’s infrastructure in Nigeria, it will be easier and faster for global remittance companies to partner with OPay to help their customers to receive money from their business partners, customers and loved ones directly into their OPay wallet and any bank account or mobile wallet in Nigeria.

OPay online