OPay Secures Court Approval to Freeze Accounts After ₦714 Million Discrepancy
- Chinese-owned fintech behemoth OPay has been granted permission to freeze customer accounts across thirty banks.
- OPay is trying to retrieve ₦714 million that was mistakenly credited to customers due to a system malfunction.
- OPay has successfully reclaimed 10% of the total sum involved.
The glitch in OPay's system that led to the erroneous crediting of funds to customers is a serious issue that needs to be addressed. While OPay has made efforts to recover the mistakenly credited funds, some customers have not cooperated, leading to the need for legal action. The court's decision to grant OPay permission to freeze customer accounts shows the severity of the situation.
