Court Orders Opay To Restrict Custoner Accounts Over ₦714m System

Court Orders Opay To Restrict Custoner Accounts Over ₦714m System.

There has been an approval from a Federal High Court in Lagos by Opay, Chinese-backed fintech giant has received to freeze customer bank accounts in thirty listed banks as part of a process to recover ₦714 million received by customers during a system glitch.

OPay also contacted customers who received above ₦500,000 via emails and phone calls and asked them to fund their accounts so the retained funds could be debited immediately after it became aware of the issue.

And the fintech asked the court to freeze the customer accounts and filed an affidavit of urgency alongside its application. And therefore, the orders were granted by the court on June 28, 2024, and OPay will now begin asking thirty banks to restrict the affected customer accounts.