OPay finally shut-down all its Nigerian operations

The Opera’s African fintech startup, OPay has shut down all its businesses in Nigeria excluding its payment operations, the company posted via its social media platform.

According to the memo posted on social media, all the businesses to be shut down to include the popular bike hailing service, ORide; a B2C e-commerce app, OMall; a B2B e-commerce platform, OTrade; a logistics delivery service, OExpress, and a food delivery service, OFood.

Accordingly, the Nigerian team has already set up a team tasked with the recovery of all the ORide motorcycles on the road.

It will be recalled that trouble started for the fintech when the Lagos State Government banned the operations of commercial motorcycles on most major roads in the state. The bigger punch came after the pandemic ravaged many companies in the world.

Opera first launched the OPay mobile money platform in Lagos in 2018 on the popularity of its internet search engine in Africa. A year later, the Norway-based, Chinese-owned company sent jitters through Nigeria’s startup world when it rallied investors to back OPay with $170 million in VC.