PRESS RELEASE: CBN awards OPay for financial inclusion innovation
OPay, Nigeria's leading financial institution has been recognized with the prestigious IFIC Award for Financial Inclusion Innovation by the Central Bank of Nigeria (CBN). This award was presented at the 2024 International Financial Inclusion Conference (IFIC), a flagship event that convened global thought leaders, regulators, and industry stakeholders to strategize 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% financial inclusion rate by 2024. Through close collaboration with the CBN 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 emerged as the winner of 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,” said Dauda Gotring, CEO of OPay.
The 2024 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. This award not only celebrates OPay’s contributions but also reinforces the significance of public-private partnerships in building a secure, innovative, and inclusive financial ecosystem that drives sustainable economic growth.
About OPay
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 & 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.
OUR DEMANDS
1. Reverse Fuel price to May 29. 2023 price of N190.
2. Reverse Electricity tariff to May 29 2023 rate of N60.
3. All elected and appointed officials should be on same minimum wage as civil servants.
4. Criminalize the use of brutal force on citizens by security agents.
5. Stop the direct and indirect funding of first lady's office.
6. Create a website where all government agencies and parastatals must publish their weekly income and spendings accounts, failure to publish for 2 weeks automatically declares the office of whoever is in charge (head) of account and the DG, Minister, Commissioner or Chairman vacant.
7. Prohibit government from funding religious Pilgrims.
8. Prohibit Nigerian states and FGN from further borrowing outside Nigeria.
9. Prohibit public servants from flying out of Nigeria using government funds for medical, training, vacation or any social/personal business.
10. All civil servants, elected and appointed public servants must educate their kids in Nigeria (no exceptions, if you want your kids educated outside Nigeria resign).
11. Repeal the Inspector General of Police retirement/tenure extension.
12. All security personnel attached to individuals and their property be withdrawn with immediate effect and sent to hot zones.
13. Increase all security personnel, health workers and teachers salaries by at least 35%.
14. Sale the Presidential Yacht immediately.
15. Scrap the senate immediately.
16. Stop constituency project for all lawmakers.
17A. INEC, the EFCC and ICPC act be re-enacted to give them the mandate to appoint their board and heads just as the judiciary do.
17B. INEC, the EFCC and ICPC be remove under the presidency, with the National Assembly still retaining it oversight powers.
18A. Amend the electoral act to include compulsory use of BVAS.
18B. Compulsory electronic transmission of polling unit results from the unit geo location.
18C. Compulsory compilation of result on iREV if any disparity, results on iREV shall be declared.
19. Amend the Constitution to compel All electoral tribunal cases be settled before day of swearing in.
20. Prohibit elected officials family members from using public assets like Jets, Official Car, motorcade etc. without the presence of the elected official.
21. Prohibit all government officials from flying first class whether they are the ones paying or not.
22. No elected or appointed public servants should have more than 5 (SSA, Personal Assistant and Personal Advisers put together).
23. Prohibit spouses and children of Judges from contesting election (one must give up their ambition for the other).
24. Discontinue payment of all allowances to elected and appointed officials (enroll them for NHIS).
25. Employ and post civil servants aides such as drivers, cooks, gardeners etc to government officials.
The people are the power, meet our demands or face severe civil disobedience.
#EndBadGovernanceInNigeria