By Bunmi Yekini
OPay, a leading financial institution in Nigeria, has been honoured with the IFIC Award for Financial Inclusion Innovation by the Central Bank of Nigeria (CBN). The award was presented during the 2024 International Financial Inclusion Conference (IFIC), a key event that brought together global thought leaders, regulators, and industry stakeholders to advance financial inclusion strategies across Africa and beyond.
The recognition highlights OPay’s pivotal role in achieving Nigeria’s financial inclusion goals, which align with the CBN’s ambitious target of a 95% inclusion rate by 2024. By delivering secure and accessible digital financial services to millions of Nigerians, OPay has broken long-standing barriers to financial inclusion, demonstrating the power of innovative technology in transforming the financial landscape.
Speaking on the achievement, Dauda Gotring, CEO of OPay, stated:
“This recognition by the CBN highlights OPay’s dedication to providing innovative, compliant, and inclusive financial solutions. We remain committed to advancing financial inclusion while ensuring the highest standards of security and regulatory alignment.”
The award selection process evaluated participants based on regulatory adherence, technological innovation, customer impact, and contributions to advancing the CBN’s financial inclusion goals. OPay emerged as the standout performer, surpassing strong competition within the financial services sector.
The 2024 IFIC also addressed critical issues such as expanding access to financial services, boosting digital literacy, and fostering public-private partnerships. OPay’s success is a testament to the importance of collaboration between regulators and private sector players in building a sustainable and inclusive financial ecosystem.
As Nigeria inches closer to its financial inclusion target, OPay’s recognition by the CBN reaffirms the company’s role as a leader in financial innovation.