OPay’s $1.28 lending problem in Nigeria

Every $10 (₦13,329.7) borrowed from OPay generated $2.55 (₦3,399.07) in loan-financing revenue in H1 2026. The figure includes late-payment penalties, not just interest, and offers a glimpse into the revenue lenders need to cover the risk of borrower defaults. The fintech generated $236.12 million from $927.6 million in loans originated in Nigeria, according to its public offering prospectus .