Okada Ban Won’t Throw Us Out Of Business – OPay

By Augustine Adah

The decision by the Lagos State Government to restrict the operation of Okada and Tricycles to some local government areas in Lagos has negatively affected some companies which have invested so much in the logistic business like OPay in Nigeria.

Speaking on the development, the Country Manager for OPay in Nigeria, Iniabasi Akpan said that though the development had affected the company’s business adversely, OPay is now concentrating on it cores payment business.

Akpan who spoke in a press interview said the sad development brought untold pain not only to OPay but to other stakeholders in the logistic business.  

He said, “I don’t know how much my competitors lost, but I think everybody is feeling some pain. There is no doubt that the Okada ban in Lagos state cost us a great deal. But, we still have a payment business which is thriving.

“I think that is the most important thing. I guess others were more hit than us because they don’t have a payment business. Our core is the payment business. So, that has always been the core of our business and not actually the ride business”.

The ban according to Akpan led to a painful retrenchment of workers who the company has no intention to sack at that time.

On the rumour that some state governments may follow the step of Lagos in banning Okada, Akpan said such development if it happen would not affect the company much because of its thriving payment business.

 “Like I said, we still have a core payment business. So, if the ride doesn’t work, there are still opportunities for us in payment in terms of bank transfers, airtime. So, Opay itself is a payment business, but then, when you have other subsidiaries like the ride hailing, food and other delivery side which is O-food. Where we see opportunity that will empower people, we will leverage the digital platforms that are available”

Akpan disclosed that the company intends in the next few years to make OPay an international fintech company a household name both in Nigeria. And Africa as a whole.

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