Opay Cash Investment: Legit Or Scam?

Opay is a mobile-based platform that offers a range of services, including payments, transportation, and food and grocery delivery. However, there have been rumours of an investment platform parading as Opay, using WhatsApp and Telegram to communicate with potential investors and promising to double their money. While Opay does have a legitimate investment platform, the Opay app, where users can make payments, take out loans, and invest, it is important to be cautious of scams. Many people have fallen victim to fraudulent schemes posing as Opay investment opportunities, losing significant sums of money.

OPay is a legitimate company, but Opay Cash Investment is a scam

OPay is a legitimate company that provides a mobile-based platform for payment, transportation, food and grocery delivery, and other services. The company is insured by the National Deposit Insurance Corporation (NDIC) and regulated by the Central Bank of Nigeria (CBN). OPay also offers a variety of investment options through its app, including savings plans with interest rates ranging from 8% to 20%.

However, there is a scam operation called Opay Cash Investment that has no association with the real OPay company. This scam promises to double any money sent to their bank account within 24 hours, but of course, they do not follow through on this promise. They use WhatsApp and Telegram to communicate with potential victims and provide fake transaction slips to support their claims. Many people have fallen for this scam and lost significant sums of money.

It is important to emphasise that OPay is a legitimate company, but Opay Cash Investment is a scam. If you are interested in investing through OPay, be sure to use their official app and avoid any investment schemes that seem too good to be true. Always do your research before investing, and remember that legitimate investment companies will not offer outrageously high interest rates.

To summarise, while OPay itself is a trusted and secure company, the presence of scams like Opay Cash Investment underscores the importance of vigilance when it comes to your finances. Always verify the authenticity of any investment opportunity and never invest more than you can afford to lose.

Opay Cash Investment is owned by Golifa Musia from Southwest Nigeria

Opay, formerly Paycom Nigeria Limited, is a legitimate fintech mobile money operating company founded by Zhou Yahui in 2013. It is headquartered in Ikeja, Lagos State, Nigeria, and is one of the four major fintech companies in the country.

Opay has an e-payment wallet that allows its users to pay for goods and services electronically using a mobile phone via the OPay App. The app can be downloaded from the Google Play Store and Apple App Store.

However, there is a separate entity called Opay Cash Investment, which is not affiliated with Opay. Opay Cash Investment is owned by Golifa Musia from Southwest Nigeria. It is a scam that promises to double people's money after they send it to a bank account but never does. Many people have lost significant sums of money to this fraudulent scheme.

It is important to note that Opay is a legitimate company with no connection to Opay Cash Investment. Opay is a licensed and insured company offering various financial services to its customers.

To summarise, while Opay is a legitimate fintech company, Opay Cash Investment, owned by Golifa Musia, is a scam, and people should avoid investing their money with them.

The scam promises to double your money within 24 hours

Opay is a mobile-based platform that provides a range of services, including payments, transportation, and food and grocery delivery. However, there is a scam operating under the name "Opay Cash Investment" or "Opay Investment" that has nothing to do with the legitimate Opay company. This scam promises to double your money within 24 hours, but it is important to remember that if something seems too good to be true, it probably is.

The Opay Cash Investment scam works by asking people to send money to their bank account with the promise of receiving double the amount back within 24 hours. Of course, this never happens, and people end up losing their money. The founder of Opay Cash Investment has been identified as Golifa Musia from Southwest Nigeria, and they use WhatsApp and Telegram to find their victims.

It is important to be vigilant and not fall prey to such scams. Here are some signs that you might be dealing with a scam like this:

• You are contacted out of the blue by someone claiming to be from a small financial business, offering high returns for a small investment in a very short time.
• They ask you to invest a small amount first and then quickly return double the money to gain your trust.
• They communicate via SMS or WhatsApp and ask you to deposit money through a link they provide.
• They use a reputable company's name, like Opay, to make themselves seem legitimate.

If you encounter any of these red flags, it is best to avoid engaging and report the incident to the relevant authorities. Remember, legitimate organisations will not pressure you to invest money with the promise of quick and high returns.

Opay Cash Investment uses WhatsApp and Telegram to communicate with people

Opay Cash Investment is an online investment company that claims to be legitimate by showing fake transaction slips. They ask people to send money to their bank account, promising to double the amount in 24 hours. However, they never fulfil this promise, and many people have lost huge sums of money to this scam.

It is important to note that legitimate investment companies do not usually offer outrageous interest rates, and it is best to avoid companies that do not have a physical location or are not under CBN or insured by NDIC. If an investment goes wrong, these bodies can help fight for your rights.

If you have been scammed by Opay Cash Investment, it is recommended to report them to the state police, who can help recover stolen funds.

If you have been scammed, report it to the state police to recover your funds

If you have been scammed by OPay Cash Investment, it is important to take immediate action to protect yourself and prevent further losses. Here are the steps you can take to report the scam to the state police and improve your chances of recovering your funds:

Stop All Communication and Payments:

It is crucial to stop any further engagement with the scammers. Do not respond to their messages, calls, or emails. Do not make any additional payments, as this will likely result in more losses.

Gather Information and Evidence:

Collect as much information and documentation related to the scam as possible. This includes names, social media profiles, chat histories, emails, website links, transaction records, and any other relevant details. Having comprehensive information will assist the authorities in their investigation.

Report to the State Police:

Contact your local or state police department and file a report. Provide them with all the information and evidence you have gathered. The police will guide you through the process and may work with other law enforcement agencies to investigate the scam.

Contact Your Financial Institutions:

Get in touch with your bank and credit card companies to inform them of the fraud. You may need to close any compromised accounts and open new ones to prevent further unauthorized access. Ask about any additional security measures or fraud protection services they can provide.

Protect Your Identity:

If you shared personal information, such as your social security number, take immediate steps to protect your identity. Place a fraud alert or credit freeze with the major credit reporting companies. Also, report your information as stolen at identitytheft.gov to safeguard your identity and prevent further misuse.

Seek Legal Advice:

Consider consulting a lawyer or legal aid to explore your options for recovering your funds. They can guide you through the legal process and represent your interests. Additionally, look into government resources, such as consumer protection agencies, that may be able to assist you in fund recovery.

Remember, acting quickly is crucial to improving your chances of fund recovery and preventing further scams. Stay vigilant and follow the recommended steps to protect yourself and others.

Frequently asked questions