OPay said savings in the platform are safer with the insured amount now raised to N5 million by the Nigeria Deposit Insurance Corporation (NDIC).
This comes as OPay commits to financial security and aligning with best practices in financial services.
The NDIC had significantly increased the maximum pass-through deposit insurance coverage from N500,000 to N5,000,000 per subscriber.
The adjustment provides a substantial safety net for OPay users and others, ensuring their funds are protected.
OPay’s alignment with the NDIC’s revised insurance coverage standards underscores its dedication to safeguarding user funds and promoting financial stability.
With the new insurance, OPay users can now have the same confidence in the security of their deposits, the bank said.
It commended the increased insured amount, saying the move will contribute significantly to a more inclusive and resilient financial ecosystem.
The post Users’ funds safer with increase of insured deposits, says OPay appeared first on Guardian Nigeria News.
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