SOUTH KOREAN POLICE SEEK ARREST WARRANT FOR HYBE CHAIRMAN BANG SI-HYUK OVER ALLEGED $100 MILLION INVESTOR FRAUD SCHEME. (PHOTO).

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 South Korean police seek arrest warrant for Hybe chairman Bang Si-Hyuk over alleged $100 million investor fraud scheme    South Korean police are seeking an arrest warrant for Bang Si-Hyuk, the billionaire music executive behind K-pop powerhouse Hybe and BTS, as part of an expanding investigation into allegations that he improperly benefited from an investor scheme involving more than $100 million. Authorities said they have asked prosecutors to pursue a court warrant for Bang’s arrest as they continue probing claims that he misled investors in 2019. Investigators allege he told investors that Hybe had no plans for an initial public offering, leading them to sell shares to a private equity fund. The company later went public, and police suspect a separate arrangement may have resulted in Bang receiving a substantial payout tied to post-IPO stock profits. Bang’s legal team has not directly addressed the specific allegations but said he has cooperated with investigators an...
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OPAY CLARIFIES REPORTS ON ALLEGED OFFICE CLOSURE BY THE NIGERIA REVENUE SERVICE. (PHOTO). #PRESS RELEASE

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 PRESS RELEASE: 

OPay clarifies reports on alleged office closure by the Nigeria Revenue Service


Our attention has been drawn to recent reports circulating on online platforms and social media claiming that our offices in Lagos and Abuja were sealed by the Nigeria Revenue Service (NRS) over alleged non-compliance with Value Added Tax (VAT) and Company Income Tax under the Nigeria Tax Act 2025.


Our offices across Nigeria, including Lagos and Abuja, remain open and fully operational, and we continue to serve our customers, partners, and merchants without disruption.


As a responsible financial technology company operating in Nigeria, we are compliant with all applicable tax obligations and regulatory requirements. We work closely and transparently with all relevant government agencies and regulatory authorities to ensure that our operations consistently meet statutory standards.


The notice referenced in the reports arose from a recent industry-wide directive by the NRS requesting payment platforms to distinctly separate certain statutory charges on their applications for easier reconciliation and transparency. This administrative clarification affects multiple operators across the industry, not OPay alone. The suggestion that the notice indicates non-payment of taxes is therefore factually incorrect and misleading.


Equally troubling is the selective and deliberate singling out of OPay in a matter that concerns the wider industry. Such reporting not only distorts the facts but also appears calculated to undermine the reputation of a company that has consistently demonstrated strong compliance, transparency, and cooperation with regulators


For the avoidance of doubt, the information currently circulating online suggesting that OPay is shutting down or our offices have been shut down should be disregarded, as it does not reflect the true situation.


@OPay_NG  remains committed to supporting Nigeria’s digital economy by providing secure, reliable, and inclusive financial services to millions of users nationwide.


Management


OPay Digital Services Limited

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