OPay users’ funds now insured up to N5 million under NDIC

Nigeria’s leading financial institution, OPay, has announced a significant improvement in their financial security measures for customers. OPay funds are now insured up to N5 million by the NDIC (Nigeria Deposit Insurance Corporation) with the same insurance coverage as commercial banks.

The NDIC increased the maximum pass-through deposit insurance coverage from N500,000 to N5 million. This upgrade underscores OPay’s commitment to financial security for its customers as it provides a substantial safety net for users.

The upward review of the maximum deposit insurance by NDIC gives OPay users an added advantage as they continue to enjoy super fast and seamless transactions, easy to use and affordable financial services, incentive packages on transfer/ airtime and data top-ups, daily interest and more.

Benefits of NDIC upgrade for OPay users:

1. Enhanced security

2. Financial confidence

3. Market discipline

4. Financial stability

OPay users get to continue to enjoy OPay’s super fast services including money transfers, bill payments, card services, airtime and data payments with the added assurance of extra security.

The NDIC’s revised insurance policy ensures users' deposits are safe and fully protected and it is essential for maintaining users’ confidence.

With this new level of insurance, OPay users can now have the same confidence in the security of their deposits as customers of other commercial banks. This move contributes significantly to a more inclusive and resilient financial ecosystem in Nigeria.

OPay was established in 2018 as a leading financial institution in Nigeria with the mission to make financial services more inclusive through technology. The company offers a wide range of payment services, including money transfer, bill payment, airtime & data purchase, card service, and merchant payments, among others. Renowned for its super-fast experience and reliable network, OPay is licensed by the CBN and insured by the NDIC with the same insurance coverage as other commercial banks.

Download the OPay app on Play Store or App Store to manage your finances with enhanced insurance coverage.

Source: Legit.ng