OPay wins CBN’s IFIC award for financial inclusion innovation

OPay has been honoured with the IFIC Award for Financial Inclusion Innovation by the Central Bank of Nigeria (CBN).

The award was presented at the 2024 International Financial Inclusion Conference (IFIC), a premier event that brought together global thought leaders, regulators, and industry stakeholders to discuss strategies for accelerating financial inclusion across Africa and beyond.

The recognition underscores OPay’s alignment with regulatory standards and its significant contributions to advancing Nigeria’s financial inclusion objectives. It also reflects the institution’s commitment to supporting the CBN’s mission of achieving a 95% financial inclusion rate by 2024.

By working closely with the CBN and other regulatory bodies, OPay has provided millions of Nigerians with secure, innovative, and accessible digital financial services, breaking down longstanding barriers to financial access.

The award selection process was rigorous, evaluating metrics such as regulatory compliance, technological innovation, customer impact, and contributions to the CBN’s financial inclusion goals. OPay emerged as the top performer among a competitive pool of financial service providers, setting a benchmark for excellence in delivering secure and innovative financial solutions.

“This recognition by the CBN highlights OPay’s dedication to providing innovative, compliant, and inclusive financial solutions,” said Dauda Gotring, CEO of OPay. “We remain committed to leveraging technology to drive financial inclusion while ensuring the highest standards of security and regulatory compliance.”

The 2024 IFIC Conference addressed critical issues in Nigeria’s financial inclusion landscape, including expanding financial service access, improving digital literacy, and fostering collaboration between regulators and private sector innovators like OPay.

As Nigeria approaches its ambitious financial inclusion target, OPay continues to lead by example. Its achievements not only showcase the potential of public-private partnerships but also reinforce the importance of building a secure, innovative, and inclusive financial ecosystem that supports sustainable economic growth.