OPay Nigeria’s CEO, Olu Akanmu steps down

Olu Akanmu, the CEO of OPay Nigeria, has officially resigned from his position after a successful two-year tenure. His announcement coincides with the ongoing celebration of the company’s 5th anniversary in Nigeria. Akanmu revealed his departure via a Twitter post on Monday morning, though he did not provide specific reasons for his decision. Instead, he emphasized the importance of furthering financial inclusion for Nigerians.

In his message, Akanmu expressed his gratitude to all his colleagues at OPay for their collaborative efforts in deepening financial inclusion in Nigeria. He also extended thanks to the ecosystem partners and enablers whose support was crucial in achieving OPay’s mission of leveraging technology to enhance financial inclusion.

Despite the progress made collectively as an ecosystem, Akanmu highlighted that there is still much work to be done to ensure that no one is left behind by the modern digital financial system. He pointed out that during the cashless or limited cash period earlier in the year, millions of Nigerians were still excluded from financial services.

Challenging the Nigeria Fintech community, Akanmu urged them to serve not only the banked and underserved but also the completely excluded, who represent at least 45% of the population. He emphasized the need for collaborations, public-private partnerships, and coordinated efforts at the digital public infrastructure ecosystem layers to successfully extend the digital financial services to the next 20 million people.

Akanmu, a seasoned industry professional and former executive director at FCMB, had joined OPay Nigeria, which is backed by Chinese investment, in November 2021. During his tenure, the company experienced impressive growth, particularly during Nigeria’s cash crunch, thanks to its effective distribution strategies and infrastructure.

As OPay Nigeria marks its 5th anniversary, it also unveiled a new logo signifying its substantial growth and impact over the years. The rebranding represents the company’s commitment to enter a new era with enhanced services, technological advancements, and a stronger aim to establish itself as the most reliable financial platform in Nigeria.