OPay has launched the 7 Savings Festival, a nationwide savings initiative powered by OWealth, its digital savings platform. The 49-day campaign runs from 10 August to 27 September 2026 and is designed to encourage consistent saving habits among Nigerians by offering an interest rate of 27% per annum, daily interest credits, and eligibility for a share of a ₦77 million additional interest pool.

The initiative comes at a time when rising living costs are reshaping household spending and saving patterns across Nigeria. Nigeria has experienced persistent double-digit inflation in recent years, which has eroded purchasing power and made it more difficult for households to set money aside. While many Nigerians aspire to save more, maintaining consistency remains a challenge, and traditional savings accounts at commercial banks have often yielded returns below the inflation rate. OPay's campaign seeks to address this gap by rewarding disciplined saving behavior rather than one-off deposits.

Through the festival, customers can create a Target Savings plan ranging from ₦77,000 to ₦777,000. Participants who save consistently toward their goals and complete their target without making early withdrawals will earn 27% interest per annum, qualify for daily interest, and become eligible for a portion of the ₦77 million additional interest pool. The platform provides users with visibility into their savings goals, progress, and rewards throughout the campaign.

Elizabeth Wang, Chief Commercial Officer at OPay, said the festival reflects the company's commitment to helping Nigerians build stronger financial habits. "By saving consistently towards their goals, customers can enjoy rewarding benefits, including an interest rate of 27% per annum, while building financial confidence on a platform they can trust," she said.

The campaign reflects a broader shift within Nigeria's digital financial services industry, evolving from facilitating payments to helping users build sustainable financial habits. As more Nigerians adopt digital platforms, demand is growing for products that enable users not only to transact but also to save and grow their money with confidence. Nigeria remains home to one of Africa's largest populations of unbanked and underbanked adults, and fintech platforms like OPay have increasingly positioned themselves as accessible alternatives to traditional banking, particularly for users who may face barriers to opening conventional bank accounts.

How to Participate

Customers can participate by opening or logging into the OPay app, navigating to the 7 Savings Festival page, and creating a Target Savings plan between ₦77,000 and ₦777,000. New Target Savings plans can be created through 20 September 2026. Final interest earnings and distributions from the ₦77 million additional interest pool will be disbursed on 27 September 2026.

OPay positions the festival as part of its wider commitment to financial well-being, arguing that stronger saving habits among individuals and small businesses contribute to more financially resilient households and a stronger economy. The campaign also highlights how fintech companies in Nigeria are increasingly competing on savings and wealth-management features, a space traditionally dominated by deposit money banks and microfinance institutions.

About OPay

Founded in 2018, OPay is a Nigerian fintech company focused on making financial services more inclusive through technology. The company offers money transfers, bill payments, card services, airtime and data purchases, and merchant payments. OPay is licensed by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC), with the same deposit insurance coverage as commercial banks.