Fintech veteran hands over Nigeria operations to Opeyemi Oyinloye while focusing on expansion, AI, and next-generation financial infrastructure
Leadership Transition Marks a New Era
Tayo Oviosu is stepping away from the day-to-day management of Paga’s Nigerian business after nearly 17 years, transitioning into the role of Group Chief Executive Officer as part of a major leadership restructuring within the fintech company.
In this new position, Oviosu will focus on scaling Paga beyond Nigeria while deepening investments in emerging technologies such as artificial intelligence, blockchain, and stablecoins. The move signals a shift in the company’s long-term strategy—from a local payments provider to a broader financial infrastructure platform serving Africa and its diaspora.
Oyinloye Steps In as Acting Nigeria CEO
Taking over operational leadership is Opeyemi Oyinloye, who has been appointed Acting CEO of Paga Nigeria, pending approval from the Central Bank of Nigeria.
Oyinloye, who previously led business operations, is expected to manage the company’s core activities in its largest market. His appointment marks the first time someone other than Oviosu will lead Paga Nigeria, underscoring the depth of leadership within the organisation.
Strong Growth Fuels Strategic Shift
The leadership change comes during a period of strong performance for Paga. In 2025, the company processed ₦17.1 trillion (about $12 billion) in transactions, representing a sharp increase from the previous year.
Paga has also expanded internationally, launching U.S. banking services for Africans in partnership with Regent Bank. Its collaboration with PayPal in early 2026 further strengthened its global footprint, marking PayPal’s return to Nigeria after nearly two decades.
Focus on Innovation and Emerging Technologies
At the group level, Oviosu will lead Paga Labs, an innovation unit focused on building next-generation financial solutions. The division is set to develop products across blockchain systems, digital currencies, and AI-powered commerce.
The goal is to make payments and transactions more seamless, leveraging technology to improve accessibility and efficiency across markets.
Expansion Strategy Targets Africa and Diaspora
Paga’s growth strategy is now firmly centered on Africa and the global African diaspora. While the company previously explored markets like Mexico and the Philippines, it is now prioritising expansion within the continent.
The long-term vision is to create a financial ecosystem that allows users to make cross-border payments and trade easily through Paga’s infrastructure.
Leadership Team Evolves Alongside Strategy
Co-founder Jay Alabraba is also transitioning into a new role as Group Director of Special Projects. His responsibilities will include strengthening credit and lending services and supporting market expansion efforts.
Despite the restructuring, both Oviosu and Alabraba will remain actively involved in high-level decision-making, partnerships, and product development.
Fundraising and Future Outlook
Looking ahead, Paga plans to raise additional funding to support its ambitious expansion and technology investments. Although the company is currently profitable, scaling across new markets and building advanced financial solutions will require fresh capital.
Oviosu emphasised that the transition is not a step back but a move to accelerate growth. After nearly two decades leading the company, he remains committed to building a platform that connects Africa more deeply to the global financial system and stands the test of time.
