The Management of Fin-Tech OPay has clarified that it is not responsible for the recent unauthorized debit complaints, explaining that the deductions circulating online are actually automatic repayments of COVID-19 loans issued by NIRSAL Microfinance Bank.
According to NIRSAL, the loans were never grants but credit facilities tied to beneficiaries’ BVNs, allowing the system to withdraw funds from any linked bank account without prior notice.
The confusion arose because many borrowers either overlooked or ignored earlier repayment notifications, leading them to assume OPay was behind the deductions.
OPay has firmly distanced itself from allegations making the rounds on social media that it has been deducting money from customers’ accounts without authorization. Throughout last week, social media platforms were awash with complaints and screenshots of unexplained debits, sparking confusion and anxiety among the public.
In an interview with Alfijir Newspaper, OPay officials stated unequivocally that the platform has no system that deducts funds from users’ wallets without direct authorization. They emphasized that all withdrawals require the explicit instruction of the account owner.
“Anyone who benefited from the COVID-19 loan disbursed by NIRSAL should expect deductions at any time. It was a loan, not a grant,” a source clarified.
According to OPay, their internal review shows that the deductions being reported originate from external institutions with legitimate access to customers’ BVN details — not from OPay itself.
In the midst of the public outcry, the NIRSAL Microfinance Bank (NMFB) confirmed that the withdrawals were tied to the repayment of COVID-19 loans issued during the pandemic.
The bank reiterated that the loans were not free handouts but structured credit facilities with clear repayment terms. Because the loan agreements were linked directly to beneficiaries’ BVNs, the repayment system was designed to deduct funds automatically from any bank account associated with the BVN — whether OPay or any other financial institution.
NIRSAL further disclosed that multiple reminder messages were sent to beneficiaries before the deductions began. However, many recipients either ignored the notifications or assumed repayment would not be enforced. This misunderstanding, officials said, led many to wrongly believe OPay was behind the withdrawals.
With the facts now clarified, members of the public have begun to understand that the deductions did not originate from OPay. Both institutions advised Nigerians to always read and fully understand loan terms before accepting them, and to reach out to NIRSAL offices for clarification regarding repayment obligations or related concerns.
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