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Chinese-owned African fintech startup, OPay, has announced the suspension of some of its Nigerian operations including ORide, OCar, and OExpress, excluding its payment operation, Opay.
The company in a statement on Thursday said it has to put some of its operations on hold due to the harsh business conditions which have affected many Nigerian companies, including theirs, during this COVID-19 pandemic, the lockdown, and the government ban.
The statement reads “the harsh business conditions which have affected many Nigerian Companies, the COVID-19 Pandemic, the Lockdown, and the Lagos State Government ban on motorcycles have affected many Nigerian companies, including ours”.
The decision follows a memo sent by OPay’s investors to the Nigerian team yesterday directing all other verticals but payments to shut down operations and all the Chinese expatriate workers to return to China as soon as possible.
The Nigerian team is said to have already set up a team tasked with the recovery of all the ORide motorcycles on the road.