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TeamApt, Moniepoint sue OPay, accuse firm of data breach, unethical recruitment and CBN rule violations.
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Plaintiffs allege poaching of BRMs and aggregators to extract insider information for POS deployment.
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Court asked to restrain OPay, SOTI Investments from using or accessing any confidential data.
OPay Digital Services Limited has been dragged before the Federal High Court in Lagos over allegations of unethical practices in Nigeria’s competitive fintech sector.
Two major industry players—TeamApt Limited and Moniepoint Microfinance Bank—jointly filed the suit against OPay and its affiliate, SOTI Investments Limited, accusing them of orchestrating a coordinated campaign to poach key Business Relationship Managers and aggregators.
READ ALSO: CAC Threatens Watchlist Action on Opay, Moniepoint Over Unregistered POS Operators
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According to the plaintiffs, the targeted recruitment was designed to harvest confidential business intelligence, gain access to proprietary operational data, and facilitate new POS terminal deployments using insider methods. They insist the actions constitute a breach of banking ethics and violate Central Bank of Nigeria regulatory standards.
The firms are seeking a restraining order to bar OPay and its agents from contacting or engaging their BRMs, as well as an injunction stopping the use of any information allegedly obtained through former employees.
