FIRS Seals OPay Offices Over Alleged Tax Violations

The Federal Inland Revenue Service (FIRS) has taken regulatory action by sealing the offices of OPay in Lagos and Abuja over alleged tax violations. This enforcement action is reportedly linked to compliance issues concerning Nigeria's tax regulations, particularly the Value Added Tax (VAT) and Company Income Tax obligations as stipulated in the Nigeria Tax Act of 2025.

The FIRS has placed enforcement notices on the premises of the fintech company, warning that the seals will not be removed without proper authorization. OPay, a Chinese-backed financial technology firm that entered the Nigerian market in 2018, has rapidly expanded its services, including mobile payments and money transfers, becoming a significant player in Nigeria's digital payment ecosystem.

The sealing of its offices raises concerns about regulatory compliance among foreign technology firms operating within Nigeria's expanding digital economy and signals a stricter enforcement stance by the government regarding tax compliance, particularly among fintech companies.