If you have money inside an OPay account, you may need to read this carefully.
Nigeria’s Federal Inland Revenue Service (FIRS) has reportedly sealed the Lagos and Abuja offices of OPay over alleged violations of the Nigeria Tax Act 2025, citing issues related to Value Added Tax (VAT) and Companies Income Tax (CIT).
According to reports, enforcement notices placed on the premises warn that the official seals must not be removed without the authority of the Executive Chairman of the FIRS, signaling a serious compliance dispute between the fintech company and Nigerian tax authorities.
OPay, a Chinese-backed fintech platform that entered the Nigerian market in 2018, However, the recent enforcement action has raised broader questions about the operations of foreign technology platforms in Nigeria’s fast-growing digital economy.
According to public policy analyst Emmanuel Adeniyi, Executive Director of the Coalition for Indigenous Digital Advancement:
“The playbook is consistent. You see rapid market penetration, then a very long period of resistance whenever regulators ask questions about where money is going and who it is ultimately serving.”
The development comes at a time when governments around the world are increasing scrutiny of foreign digital platforms. In the United States, for example, concerns around TikTok’s ownership and data practices led to intense regulatory pressure during the administration of Donald Trump.
In Nigeria, regulators are also beginning to examine how international tech companies operate within the country’s financial and data ecosystems.
As investigations and regulatory actions continue, users and industry observers alike will be watching closely to see how the situation develops—and what it could mean for the future of Nigeria’s digital payments landscape.
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