Sunday Ehigiator
OPay, leading digital financial services company, has launched a nationwide savings initiative offering customers an interest rate of 27 per cent per annum and an opportunity to share in an additional N77 million interest pool.
The initiative, tagged the ‘OPay 7 Savings Festival’ and powered by its digital savings solution, OWealth, is designed to encourage Nigerians to develop consistent savings habits while working towards specific financial goals.
The 49-day campaign will run from August 10 to September 27, 2026, with customers able to create Target Savings plans ranging from N77,000 to N777,000.
Under the programme, customers who save consistently towards their selected targets and complete their plans without making an early withdrawal will qualify for the 27 per cent annual interest, daily interest and eligibility to share in the additional N77 million interest pool.
The initiative comes against the backdrop of increasing pressure on household finances, with rising living costs making it more challenging for individuals and small businesses to maintain regular savings.
OPay said the campaign was designed to make saving more accessible and rewarding while helping customers develop financial discipline.
Beyond the financial incentives, the company said the festival represents part of a broader shift in digital financial services from simply facilitating payments and transfers to providing tools that help consumers manage and grow their money.
Speaking on the initiative, OPay’s Chief Commercial Officer, Elizabeth Wang, said the campaign reflected the company’s commitment to strengthening the financial habits of Nigerians.
“The OPay 7 Savings Festival reflects our 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 cent per annum, while building financial confidence on a platform they can trust,” she said.
According to OPay, the initiative is built around the principle of rewarding consistency rather than one-off deposits.
Customers will be able to create defined savings targets and monitor their progress throughout the campaign, with OWealth providing visibility into their savings goals, progress and rewards.
The company said the approach was intended to encourage customers to view saving as a long-term financial habit rather than an occasional activity.
The festival will officially open on August 10, while new Target Savings plans can be created until September 20.
OPay said final interest earnings and distributions from the additional N77 million interest pool would be made on September 27.
To participate, customers are required to open or log into the OPay app, navigate to the 7 Savings Festival page and create a Target Savings plan within the stipulated range.
They will then save towards their chosen financial target in accordance with the conditions of the campaign.
The company said the initiative was particularly aimed at helping Nigerians set and pursue tangible financial goals, whether for personal needs, business expansion, future expenses or other priorities.
OPay said stronger savings habits among individuals and small businesses could contribute to greater financial resilience, particularly as consumers increasingly turn to digital platforms to manage their finances.
The company also highlighted trust and transparency as important considerations in the growing digital financial services sector.
Through OWealth, customers participating in the festival can track their savings progress and monitor their rewards, providing greater visibility throughout the savings period.
Established in 2018, OPay provides a range of digital financial services in Nigeria, including money transfers, bill payments, card services, airtime and data purchases and merchant payments.
The company said its services are supported by a focus on network reliability and security features designed to protect customers and their funds.
OPay is licensed by the Central Bank of Nigeria (CBN) and its deposits are insured by the Nigeria Deposit Insurance Corporation (NDIC), subject to applicable terms and limits.
With the 7 Savings Festival, OPay is seeking to expand its role beyond enabling customers to move money to helping them deliberately set money aside and work towards defined financial goals.
The company said the ultimate objective was to make consistent saving easier, more rewarding and more accessible to Nigerians while reinforcing its commitment to trusted digital financial solutions.