CBN Slams Opay N946m Fine Over Money Laundering, Other Breaches

The Central Bank of Nigeria (CBN) has slammed nearly N1 billion in penalties on OPay Digital Services Limited, over violations of some regulatory compliance practices tied to money laundering, terrorism financing, and other regulatory issues.The licensed mobile money operator disclosed this in its audited accounts, raising questions about the company’s internal controls and governance, especially as it operates in one of Africa’s largest financial markets.