oz4real83:
Zenith that closed its gates all over the country and couldn't meet even the smallest needs of its customers during the new naira crisis is "one of the largest banks by valuation" . Our definition of that statement needs to be revisited

Redefine it naa. You think valuation is by reliability or even service.

Starboytwo:
I mean, if you are not using opay and I asked for your aza and you dey quote uba cbn ait etc I just shake head and pity.


Opay forever.

Loor....and how much is your transfer limit on Opay? Poor boy🤪

Valuation for an unquoted company like Opay while using the shareprice for other banks.

Opay valuation that is based on a single analyst perception.

Believe this trash at your own peril !

Where is the source?

Sane people know the top banks in Nigeria by valuation.


Rubbish!

Miyachi:

You have to consider too that oPay is a private company and startup so they can move fast and break things. For a Nigerian public company the NSE and it's investors aren't so forgiving. They might not really have as much money as you may believe to play around.

I say infinite funding because if SoftBank puts in $1billion into oPay, even if you have the most clueless CEO, it'll still take you a long way. (They put in $16billion into WeWork and I believe that isn't even their largest investment.) So, yes, infinite funding because if SoftBank believes oPay can be profitable and they need more money, they'll do more funding rounds.

Stop making excuses for these banks. Why are conventional banks in other places offering hitch free services? In some countries you find less than 10 staff in a branch and everything works fine, these banks were simply serving the Nigerian factor,what did Opay implement that was so expensive that no bank in Nigeria could implement? It's simply bad policies and services, you deduct peoples money on flimsy excuses,monies disappear from customers accounts and the bank simply tells you "go to court"...Nigerian banks shot themselves in the foot. No excuses, not even about Softbank or anything it's just incompetence that simple.

Talkisneeded:
Congratulations....

I sell herbs

Abeg infection herb na hw much

Tradepunter2:
All these useless paid opay agent up there..... You think serious biznes minded people use opay? You must be daft..... Keep fooling yourselves

Na u daft.... Opay service has veen the beat since they came... But mumu pple like u no fit knw

TUANKU:
Opay took barely 5 years to control a large market share due to their easy banking services while prophets of doom were busy predicting their fold up.

Same way Cowrywise would take over

Promismike:
Banking in opay is a risk. Anything online is a risk.

Risk? Na wetin ur Usěless normal banks tell u be dat because opay is now beta than dem.

Miyachi:

You have to consider too that oPay is a private company and startup so they can move fast and break things. For a Nigerian public company the NSE and it's investors aren't so forgiving. They might not really have as much money as you may believe to play around.

I say infinite funding because if SoftBank puts in $1billion into oPay, even if you have the most clueless CEO, it'll still take you a long way. (They put in $16billion into WeWork and I believe that isn't even their largest investment.) So, yes, infinite funding because if SoftBank believes oPay can be profitable and they need more money, they'll do more funding rounds.

Nigerian banks are private too and Opay has shareholders too so what's the point?
Are you trying to say it's lack of funding that made Nigerian banks to offer poor services? Ya'Allah

mediclife1987:


Same way Cowrywise would take over

Nothing is impossible, if they do their work well then why not.

jiz:
Opay is low budget bank and cannot be in the class of Access and Zenith. Only the greedy dey use opay wetin be opay without fast interest, zero transfer and awuf airtime and data bonus.
Can you put your lifesaving on Opay?

If you go school u go knw say nothing fit do opay.

CBN and NDIC endorsed opay and u dey talk trash.. U need education

Antoeni:
Nigeria's Largest Banks by Valuations

1. Opay - $2 billion

2. Zenith Bank - $1.1 billion

3. GT Bank - $1.083 billion

4. First Bank - $834 million

5. UBA - $690 million

6. Access Bank - $642 million

7. Stanbic Bank - $562 million

8. Ecobank - $516 million


AfricaFactsZone

According to the CBN, Opay is a Mobile Money Operator and not a Commercial Bank.

This list is akin to comparing apples 🍎s with oranges 🍊s.

tollyboy5:

It doesn't matter. They're the largest Nigeria bank currently.

na CBN tell you this one?

TUANKU:

Nigerian banks are private too and Opay has shareholders too so what's the point?
Are you trying to say it's lack of funding that made Nigerian banks to offer poor services? Ya'Allah

They are public companies, they aren't private. A microfinance bank like Kuda can be considered private. Opay is also private they aren't required to publish audited financials for the public to see. So, whatever metrics they used for the valuations, it is Insha'Allah.

On poor service, I don't know where you bank, but I've received optimal service from all my banks - services that oPay cannot provide.

DaddyJapan:


According to the CBN, Opay is a Mobile Money Operator and not a Commercial Bank.

This list is akin to comparing apples 🍎s with oranges 🍊s.

Let them, people believe whatever they see on the internet without thinking critically.

Miyachi:

They are public companies, they aren't private. A microfinance bank like Kuda can be considered private. Opay is also private they aren't required to publish audited financials for the public to see. So, whatever metrics they used for the valuations, it is Insha'Allah.

On poor service, I don't know where you bank, but I've received optimal service from all my banks - services that oPay cannot provide.

Who told you that?
So NDIC that registered them requires that from others but not from them? Are you kidding? This is not the year 2000 bro.

Starboytwo:
I mean, if you are not using opay and I asked for your aza and you dey quote uba cbn ait etc I just shake head and pity.


Opay forever.

Me too . I hate it when they tell me they've still not gotten alert. Nothing beat opay, palmpay instant alert

Promismike:
Banking in opay is a risk. Anything online is a risk.

Opay is still the most reliable, opay is the reason why customer no dey queue for these nonsense banks with their rubbish network again.

Antoeni:
Opay deserve that first position because their service is 100%

I dey tell you. I have never receive such quality service from any of the banks here in Nigeria.

Antoeni:
I don't know what GT bank is doing there by the way.
First bank should be second to none.
Any other bank listed there shouldn't be trusted.

Opay remain my number 2 choice.

GTB is not larger than Firstbank.

TUANKU:

Stop making excuses for these banks. Why are conventional banks in other places offering hitch free services? In some countries you find less than 10 staff in a branch and everything works fine, these banks were simply serving the Nigerian factor,what did Opay implement that was so expensive that no bank in Nigeria could implement? It's simply bad policies and services, you deduct peoples money on flimsy excuses,monies disappear from customers accounts and the bank simply tells you "go to court"...Nigerian banks shot themselves in the foot. No excuses, not even about Softbank or anything it's just incompetence that simple.

Explain the incompetence you talk about and I can tell you that oPay is plagued with equal or more in measure. I have a several current accounts with conventional banks I don't get unnecessary deductions, in fact, I only get charged a maintenance fee if I exceed a certain monthly threshold and I've only observed that with one particular bank.

I have not been to a bank branch in a long time, I send and receive international payments in the comfort of my home. I am provided with overdraft and loan facilities without even needing to enter a branch.

I believe there is a certain demographic that oPay appeals to but generally they don't have the depth of services that conventional banks provide.

Yes they need to improve in certain areas like cyber-security and customer service but they can't take all the blame for certain customer errors. People need to take their security serious too, they submit their bvn and banking details to every website / app and expect their money to be safe? Even the other places you talk of, customers lose their funds if they don't take their security serious.

Mandate1:
na CBN tell you this one?

See the topic

TUANKU:

Who told you that?
So NDIC that registered them requires that from others but not from them? Are you kidding? This is not the year 2000 bro.

Their valuation isn't customer funds. I don't even think customer funds is or should be part of a banks valuation but you can look it up, I'm not sure.
NDIC insurance is just like any other insurance, your bank only pays premiums to stay insured, even NDIC insures customer funds to a certain amount. That is even a different matter. Your bank is only required by CBN to keep a certain percentage of your money.

I can't even put my life savings on Opay and then go to sleep with two eyes closed. Lailai

[quote author=Umueme post=129421063]Opay has been a life saver for me.

Initially people were like "they'll steal your money", "it's a scam" blah blah blah.

I started with 1k, increased to about 20k, 200k, 1m....... my opay takes above 7.5m now without me being worried.

And the best part, their transfers are instantly. No network issues.

If i unknowingly run out of data? I use ussd code.

Opay is the best

Miyachi:

Explain the incompetence you talk about and I can tell you that oPay is plagued with equal or more in measure. I have a several current accounts with conventional banks I don't get unnecessary deductions, in fact, I only get charged a maintenance fee if I exceed a certain monthly threshold and I've only observed that with one particular bank.

I have not been to a bank branch in a long time, I send and receive international payments in the comfort of my home. I am provided with overdraft and loan facilities without even needing to enter a branch.

I believe there is a certain demographic that oPay appeals to but generally they don't have the depth of services that conventional banks provide.

Yes they need to improve in certain areas like cyber-security and customer service but they can't take all the blame for certain customer errors. People need to take their security serious too, they submit their bvn and banking details to every website / app and expect their money to be safe? Even the other places you talk of, customers lose their funds if they don't take their security serious.

I already explained it in the post you just replied to sir. Opay is better than your bank, name that your bank sir and let's compare their services.

Amigoss:
FirstBank suppose commot the first for their name,🤡🤡..

Nothing first about them

OPay deserves that No 1 spot and Should also be at no 2 spot. These guys changed the game jor.

I don't even know what Zenith Bank is doing there mshewww

Tradepunter2:
All these useless paid opay agent up there..... You think serious biznes minded people use opay? You must be daft..... Keep fooling yourselves

Are you living in the cave or what? Alot of big businesses and individuals are using Opay and Moniepoint. If you are a business person, you won't be talking like this.