OPay Surpasses Wema Bank with ₦575bn Revenue in 2026

OPay's Nigerian operations reported revenue of approximately ₦575 billion for the first half of 2026, surpassing Wema Bank's gross earnings of ₦415.09 billion and ranking sixth among seven major financial institutions according to data from Statisense. FirstHoldCo led the ranking with ₦1.93 trillion, followed closely by Zenith Bank at ₦1.90 trillion, and GTCO with ₦1.11 trillion.

FCMB and Stanbic IBTC reported ₦676.18 billion and ₦650.31 billion respectively. OPay's revenue was about 38.5% higher than that of Wema Bank, which had increased from ₦303 billion in the previous year.

It is important to note that the revenue figures for traditional banks represent group-level earnings, while OPay's figure pertains specifically to its Nigerian operations. The dollar equivalents were calculated using the Central Bank of Nigeria's exchange rate of ₦1,376 to the dollar as of June 30, 2026.