{"id":80147,"date":"2025-12-12T11:33:04","date_gmt":"2025-12-12T11:33:04","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=80147"},"modified":"2025-12-12T11:33:04","modified_gmt":"2025-12-12T11:33:04","slug":"efcc-urges-opay-to-strengthen-compliance-to-curb-fraud","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/12\/12\/efcc-urges-opay-to-strengthen-compliance-to-curb-fraud\/","title":{"rendered":"EFCC Urges OPay to Strengthen Compliance to Curb Fraud"},"content":{"rendered":"<p><strong>By Sarah Sam Adda<\/strong><\/p>\n<p>The Economic and Financial Crimes Commission (EFCC), has called on OPay to enhance regulatory compliance to prevent fraud and money laundering, amid increased scrutiny of Nigeria\u2019s fintech sector.<\/p>\n<p>EFCC Chairman Ola Olukoyede, through his Chief of Staff, Michael Nzekwe, delivered the warning during a visit by OPay CEO Steven Wen and senior executives to the commission\u2019s headquarters on Thursday.<\/p>\n<p>He stressed the importance of strict adherence to laws for business integrity and economic growth.<\/p>\n<p>Olukoyede urged OPay to strengthen Know Your Customer (KYC), processes and avoid enabling criminal activities.<\/p>\n<p>\u201cDon\u2019t give room for fraud, don\u2019t allow your company to be used for money laundering, and comply with every law of the land,\u201d he said.<\/p>\n<p>EFCC Director of Investigation Abdulkarim Chukkol warned against insider abuse, calling for robust system integrity and vetting beyond the CBN\u2019s basic KYC requirements.<\/p>\n<p>Responding, OPay CEO Wen reaffirmed the company\u2019s commitment to compliance, emphasizing that legal adherence comes first, alongside customer satisfaction and responsible revenue growth.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Sarah Sam Adda The Economic and Financial Crimes Commission (EFCC), has called on OPay to enhance regulatory compliance to prevent fraud and money laundering, amid increased scrutiny of Nigeria\u2019s fintech sector. EFCC Chairman Ola Olukoyede, through his Chief of Staff, Michael Nzekwe, delivered the warning during a visit by OPay CEO Steven Wen and [&hellip;]<\/p>\n","protected":false},"author":33,"featured_media":80148,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-80147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/80147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=80147"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/80147\/revisions"}],"predecessor-version":[{"id":80149,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/80147\/revisions\/80149"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/80148"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=80147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=80147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=80147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}