OPay hit with ₦994m fine by CBN for money laundering and terrorism financing during IPO
OPay Digital Services Limited, a prominent player in Nigeria’s fintech landscape, is currently facing intense scrutiny after reports surfaced about significant regulatory fines totaling ₦994 million from 2023 to 2025. These penalties arose from various breaches involving banking, anti-money laundering, data protection, and corporate regulations. According to the company’s audited financial statements, four regulatory bodies—namely…