How OPay is taking financial inclusion closer to more Nigerians

From drivers receiving payments on their phones to small businesses serving customers without relying only on cash, digital finance is changing how Nigerians manage money. OPay is part of this shift, as new data show progress in financial inclusion and the need to make access more useful.

For a commercial driver, receiving payment quickly can mean having enough money to buy fuel and continue working. For a market trader, a digital transfer can help pay a supplier without leaving the shop. For a family, sending money to a loved one can take seconds instead of a long journey. These everyday moments show what financial inclusion should mean: giving people practical ways to receive, send and manage money, regardless of their income or where they live.

Nigeria is making progress. The 2026 Access to Financial Services in Nigeria survey by Enhancing Financial Innovation and Access (EFInA) found that 79% of adults, about 94.2 million people, used a financial product or service. Formal financial inclusion reached 73%, up from 64% in 2023, while financial exclusion fell from 26% to 21%. Digital financial services reached 64.4% of adults, compared with 45% in 2023.

Yet access alone does not guarantee financial security. EFInA found that three in four Nigerian adults are not financially healthy. Formal credit reaches only 10% of adults, while insurance reaches 5%. These gaps show why the next stage of inclusion must help people do more than open accounts or make payments. It must help them manage risks, build savings and support their livelihoods.

OPay, which began operations in Nigeria in 2018, is helping bring everyday financial services closer to consumers and businesses through mobile payments, transfers, bill payments, savings, debit cards and merchant services. Its model allows customers to carry out many transactions without travelling to a bank branch.

The value is especially clear for people who earn and spend money daily. OPay’s technology is designed to work on a range of phones, including entry-level devices, and under unstable network conditions. According to company disclosures, more than 99% of transactions started on its app were completed successfully on the first attempt in the first half of 2026. Reliable service matters when a failed payment could delay a purchase or interrupt a day’s earnings.

Small businesses are another important part of this story. OPay reported more than one million merchants and businesses on its network as of June 2026. Digital payments give shops, food sellers, and other businesses another way to collect payments, while eligible merchants that provide financial services can earn commissions. Easier payment collection can save time, support daily trade and help business owners serve more customers.

OPay also contributes to local employment. The company has publicly stated that 99% of its workforce in Nigeria is Nigerian. Its operations require people in customer support, technology, compliance, sales and other roles, while its merchant and agent network creates additional income opportunities. These are meaningful contributions.

Customer service is central to making these benefits last. A customer with a delayed transfer needs clear information. A trader facing a payment problem needs practical help. A first-time user may need guidance on how to protect an account. Listening, giving timely updates and resolving complaints can turn a difficult experience into an opportunity to earn trust.

Policy also has a role to play. The Central Bank of Nigeria’s new ATM guidelines require card issuers to deploy at least one ATM for every 7,500 payment cards issued, with full compliance due by 2028. Improving access to cash is important, especially for people and communities that still depend on it. However, card numbers alone may not show how people now access financial services.

As more Nigerians use mobile payments and nearby merchants, it is worth considering how ATM access targets can work alongside digital channels rather than diverting attention and resources from them. Cash and digital payments will continue to serve different needs; financial inclusion policy should make both work safely and efficiently.

Other gaps deserve attention. CBN policy already recognises the need to simplify customer identity checks, strengthen agent networks and promote digital financial services. The challenge is to keep these measures practical for low-income customers, rural communities and small businesses while maintaining strong safeguards against fraud.

At the launch of Payments System Vision 2028, the CBN set out a goal of a secure, inclusive, and innovative payment system, with collaboration and interoperability as guiding principles. EFInA’s CEO, Foyinsolami Akinjayeju, has also called for providers and policymakers to judge progress by what financial access enables people to achieve, not simply by the number of accounts opened.

For OPay, the opportunity has been to keep turning technology into practical value: reliable payments, stronger merchant relationships, local jobs and easier access to financial services. The ultimate measure of inclusion is not how many people can open an account, but how many can use financial services to earn, save, trade and withstand unexpected costs.

When a driver can receive payment, a shop can keep trading, and a family can send money when it matters, financial inclusion becomes real. That is the impact digital finance must continue to deliver: one customer, one business and one transaction at a time.