In line with its long-standing commitment to regulatory compliance, financial security and customer protection in Nigeria, OPay has launched XtraCova, a funds protection product that reimburses customers for verified unauthorised transactions.

The product reinforces OPay’s focus on strengthening consumer confidence in digital financial services while supporting Nigeria’s transition toward a secure cashless economy.

XtraCova offers reimbursement of up to N5,000,000 per validated claim, with funds deducted from a customer’s account without their authorisation.

The protection framework addresses two categories of risk. The first includes platform-side incidents such as security vulnerabilities, authentication failures, or infrastructure breaches that may lead to unauthorised deductions. The second covers external criminal activities, including identity theft, phishing attacks, malware compromise, or unauthorised access following device theft.

Claims are assessed based on clear policy conditions, verification standards, and reporting timelines. Once all requirements are met, eligible customers receive reimbursement up to the coverage limit.

Elizabeth Wang, Chief Commercial Officer, OPay, said; “Protecting our customers’ money is our highest responsibility. As a company that has served millions of Nigerians over the years, we understand that trust is the foundation of digital finance. XtraCova reaffirms our commitment to continuously invest in security, comply with regulatory standards, and build solutions that truly protect our users. With this product, customers can use OPay knowing that if an unauthorised transaction happens and it is verified, we are ready to stand behind them.”

Through the launch of XtraCova, OPay continues to set a higher standard for financial protection within Nigeria’s fintech sector while reinforcing its role as a trusted partner in the country’s digital financial transformation.

XtraCova is available directly within the OPay mobile application. Users can access the feature by opening the OPay app and navigating to the Security Center section.

To learn more about how OPay is advancing financial inclusion and their security products, please visit www.opayweb.com or connect with OPay on LinkedIn,

@OPay_NG on X, and @opay.ng on Instagram.

About OPay

OPay was established in 2018 as a leading financial institution in Nigeria with the mission to make financial services more inclusive through technology. The company offers a wide range of payment services, including money transfer, bill payment, card service, airtime and data purchase, and merchant payments, among others.

Renowned for its fast and reliable network and strong security features that protect customers; funds, OPay is licensed by the CBN and insured by the NDIC with the same insurance coverage as commercial banks.

President Bola Tinubu will depart Abuja on Tuesday for a State Visit to the UK at the invitation of Their Majesties King Charles III and Queen Camilla.

The president will be accompanied by the First Lady, Sen. Oluremi Tinubu, for the official engagements scheduled during the visit.

King Charles III will host President Tinubu and the First Lady at Windsor Castle from Wednesday to Thursday as part of the state visit programme.

This was contained in a statement issued by the Presidential Spokesperson, Bayo Onanuga, on Monday in Abuja.

The state visit marks the first by a Nigerian leader to the U.

Nigeria and the UK share long-standing diplomatic ties and historical relations built over decades of political, economic and cultural cooperation.

The visit is expected to further strengthen bilateral relations and explore new avenues for collaboration between the two countries.

Areas of cooperation to be discussed include immigration, trade, investment and cultural exchange.

While at Windsor Castle, Their Majesties will invite the President and the First Lady to view a special exhibition of items from the Royal Collection related to Nigeria.

The King and President Tinubu will also hold private discussions and meet with organisations engaged in interfaith dialogue at both national and international levels.

The Royal Family will later host a State Banquet in honour of the Nigerian guests.

Tinubu will also hold a bilateral meeting with British Prime Minister Keir Starmer at 10 Downing Street.

The meeting is expected to deepen bilateral engagement between senior officials of both countries.

It will culminate in the signing of several Memoranda of Understanding covering trade, investment, defence and cultural cooperation.

The president will also witness the signing of a £746 million financing agreement between the UK Export Finance and Nigerian authorities.

The agreement will support the refurbishment of the Lagos Port Complex (Apapa Quays) and the Tin Can Island Port Complex.

Tinubu will further attend the Nigerian Modernism exhibition showcasing modern Nigerian arts/culture and participate in a reception with Nigerian and British business leaders as well as members of the diaspora community.

Members of the president’s entourage include: Senate President, Godswill Akpabio; Minister of Justice, Lateef Fagbemi, Minister of Solid Minerals, Dele Alake and Minister of Information and National Orientation, Idris Mohammed.

Others are; Minister of State for Foreign Affairs, Bianca Ojukwu; Minister of Finance, Wale Edun; and Minister of Industry, Trade and Investment, Jumoke Oduwole and Minister of Culture and Creative Economy, Hannatu Musawa.

The Minister of Communications and Digital Economy, Bosun Tijani; Minister of Defence, Gen. Christopher Musa (rtd); National Security Adviser, Nuhu Ribadu; and Director-General of the National Intelligence Agency, Amb. Mohammed Mohammed are also part of the entourage.

The president is expected to return to Nigeria at the conclusion of the state visit.

The United Arab Emirates’ (UAE) biggest port and oil storage facility, Fujairah, and Dubai’s international airport have come under further drone attacks as Iran continues to target Gulf transport and oil infrastructure.

Flights were temporarily suspended on Monday after a fire broke out near the airport after a “drone-related incident”.

A fire also raged after a drone attack on the strategically important port and industrial zone at Fujairah, one of the largest oil storage facilities in the region.

And a rocket attack on a car killed a Palestinian national on the outskirts of the UAE capital, Abu Dhabi, the city’s Media Office reported.

The attack occurred in the Al Bahia area, it said.

UAE air defense systems intercepted six ballistic missiles and 21 drones on Monday, the Defence Ministry said. Iran has launched over 1,900 missiles and drones at the UAE since the war between the US and Israel, and Iran, began.

Monday’s drone strike was the third incident since the start of the war near Dubai’s airport, which is the world’s busiest for international passengers.

Some flights were delayed, while others were cancelled altogether, in another hit to the UAE’s image of safety and stability.

The country’s energy sector came under attack as a drone hit an oil storage tanker on Saturday, and another drone hit the oil facilities on Monday, causing a fire.

Oil loading activities at the port were halted for a time while damage assessments were carried out.

Fujairah sits on the UAE’s eastern coast, on the Gulf of Oman – rather than the Persian Gulf – and so vessels do not need to navigate the Strait of Hormuz to reach it.

The location means the port plays a “crucial” role in “helping keep global supplies moving” when the Strait of Hormuz is blocked by Iran, sources said

“If tensions with Iran disrupt the chokepoint, the UAE can still export oil through Fujairah via pipelines from the oilfields in Abu Dhabi,” he said.

The port city is “ideally placed to bypass the Strait of Hormuz”, said Dubai-based oil analyst Matt Stanley, who works for commodities data provider Kpler.

“The UAE’s state oil company Adnoc have their oil tankers there, it is crude grade oil which is what the Asian buyers want.”

Iran hitting a storage tanker and oil facilities at Fujairah “shows the vulnerability of Gulf infrastructure”, Stanley said.

“Iran wants to disrupt the flow of energy”.

The port city is close to India and the “first stop out of the Middle East on the way to Singapore and China”, Stanley said.

“Fujairah is on the old Silk Road, the maritime route, and it picked up a lot of business bunkering – that is providing fuel, food, and water – for container ships that have been at sea for 25 or 30 days.”

Fujairah is like a “huge vending machine” for ships, Stanley added.

Despite the attacks on Dubai, Harper says the business community there is “resilient”. Restaurants have been offering deals to get people back into restaurants and “the malls still seem to be busy”. People “underestimate Dubai and its ability to survive a downturn”, he added.

Last week the UAE’s Minister of State Lana Nusseibeh that her country would “bounce back” from the conflict, insisting that its economy was “resilient”