Nigeria: Paga Founder Moves to Group CEO As Fintech Targets Expansion

Tayo Oviosu is stepping back from day-to-day operations at Paga after 17 years, moving into a Group CEO role as the company restructures its leadership.

Opeyemi Oyinloye will become Acting CEO of Paga Nigeria, subject to approval from the Central Bank of Nigeria. The shift marks the first time someone other than Oviosu will lead the company's largest market.

The transition comes as Paga scales its operations. The company processed ₦17.1 trillion, about $12 billion, in transactions in 2025, up 96% year on year. It also expanded into US banking services through a partnership with Regent Bank and became a local partner for PayPal in Nigeria.

As Group CEO, Oviosu will focus on expansion across Africa and investments in stablecoins, crypto, and artificial intelligence. He will also lead Paga Labs, which is developing products in blockchain and AI-driven commerce.

The company has raised $45 million to date and plans a new funding round. Paga said it may also pursue acquisitions to support growth in new markets.

Key Takeaways

Paga's leadership shift reflects a broader pattern among African fintechs moving from founder-led operations to structured organisations built for scale. As companies grow, the complexity of managing large domestic operations can limit expansion into new markets and technologies. By separating operational leadership from strategic leadership, Paga is positioning itself to pursue a multi-market strategy while maintaining execution in Nigeria. The focus on stablecoins, AI, and cross-border infrastructure aligns with global trends where fintech platforms are evolving into broader financial ecosystems rather than single-product companies. The company's profitability gives it flexibility, but expansion into new markets and technologies will require capital and execution discipline. The move also signals increasing competition in African fintech, where companies are racing to build infrastructure that connects local economies to global financial systems. For investors, this type of restructuring often precedes a new growth phase, supported by fundraising and acquisitions. For the ecosystem, it shows that some of the continent's earliest fintechs are entering a new stage of maturity, where scale, governance, and strategic focus become central to long-term growth.

Read the original article on Daba Finance.