OPay, a Nigerian fintech startup, has a market value of $2.7 billion, making it one of the largest digital banks in Nigeria

Here are some key points about OPay:

– *Rise to Prominence*: OPay has quickly emerged as the most downloaded fintech app in Nigeria, thanks to its ‘super app’ that combines multiple services ².

– *Services*: OPay offers a wide range of services, including money transfers, bill payments, airtime purchases, and more ².

– *Agent Network*: OPay has an extensive agent network, with over 500,000 agents spread across Nigeria, making it a leading player in the fintech space ².

– *Customer Base*: OPay has amassed over 35 million customers, making it a trusted platform for financial transactions ².

– *Success Factors*: OPay’s success can be attributed to its ability to address the challenge of poor digital identity, its agile IT network, and its extensive agent network ².

– *Funding*: OPay has received significant funding, including a $400 million investment led by SoftBank Vision Fund 2, which has enabled it to aggressively promote its offerings ³.

A Max Air airplane departing Yola airport for Abuja on Sunday evening suffered a tyre burst during take-off.

Max Air’s flight number NGL1649, a Boeing 737 with registration mark 5N-ADB, reportedly carried 119 passengers and six crew members on board.

A statement by the Director of Public Affairs and Consumer Protection of the Nigeria Safety Investigation Bureau, NSIB, Mrs Bimbo Olawumi Oladeji, said no injuries were recorded.

The statement reads: “This evening, Max Air’s flight NGL1649, a Boeing 737 with registration 5N-ADB, carrying 119 passengers and 6 crew members, was cleared for takeoff from Yola Airport en route to Abuja. During the takeoff roll, a loud bang was heard, identified as the bursting of the rear gear tyres.

“Initially, two tyres burst. While attempting to taxi off the runway, the remaining two tyres also burst, rendering the aircraft completely disabled. Fortunately, no injuries were reported. A go-team, led by NSIB Director General Captain Alex Badeh Jr., will visit the incident site tomorrow morning to conduct an investigation.”

The Federal Government of Nigeria has imposed a $220 million penalty on Meta Platforms Inc., the parent company of Facebook, Instagram, and WhatsApp, for violating the country’s data privacy laws.

The Federal Competition and Consumer Protection Commission (FCCPC) announced the fine on Friday, after conducting a thorough 38-month investigation into Meta’s data privacy practices and market behavior.

The investigation, conducted jointly with the Nigeria Data Protection Commission (NDPC), revealed extensive and ongoing violations of Nigerian laws, including the unauthorized appropriation of personal data without user consent, discriminatory practices against Nigerian users, and the abuse of Meta’s dominant market position.

The FCCPC’s final order mandates Meta to take corrective actions to comply with Nigerian laws, including ensuring users’ right to data self-determination, ceasing unauthorized data transfers, and eliminating discriminatory practices.

The penalty imposed on Meta is one of the largest in Nigeria’s history, reflecting the gravity of the company’s violations.