Opay – ohhh pay, no gain by Joseph Edgar

#31 · May 15, 2026, 7:47 am

The ‘Ease of enrolment’ they used to capture the common man is now being used to capture Wall Street’s attention. It’s a classic bait-and-switch. We were the bait, and now they are switching to the US.

#32 · May 15, 2026, 8:42 am

If Opay lists at $4bn, they will be one of the biggest companies in Africa. It is a pride for Nigeria, but that pride is empty if we can’t buy the stock in our own currency.

#33 · May 15, 2026, 8:53 am

The NGX has the depth. With over N160 trillion in valuation, nobody can tell me the Nigerian market is too small for Opay. This is purely about wanting to ‘pluck and run.’ We need to start demanding that companies that hit a certain user threshold in Nigeria must list locally.

#34 · May 15, 2026, 9:04 am

Listing in New York means they will be reporting to American regulators. They will care more about ‘Quarterly Profits’ for Americans than about ‘Financial Inclusion’ for Nigerians. The mission has changed.

#35 · May 15, 2026, 9:34 am

The ‘common man’ Frank Olize talked about is now the ‘data point’ for Japanese Private Equity. It’s sad how we have become products instead of people in the eyes of these fintech giants.

#36 · May 15, 2026, 10:50 am

Opay is an octopus indeed. Logistics, food, banking… they want to control everything. But an octopus without a head is just calamari. Nigeria is the head of their business; they shouldn’t cut us off.

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Opay – ohhh pay, no gain by Joseph Edgar

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