After 17 years at the helm of Paga’s Nigerian operations, Tayo Oviosu is stepping away from the day-to-day running of the business to take on a broader role as Group CEO, marking a significant leadership shift at one of Africa’s longest-standing fintech companies.
In his place, Opeyemi Oyinloye, who currently serves as general manager of business operations, has been named Acting CEO of Paga Nigeria. His appointment is subject to regulatory approval from the Central Bank of Nigeria.
Oviosu’s new role will see him focus on scaling the company beyond Nigeria, with plans to expand into other African markets while deepening investments in emerging areas such as stablecoins, cryptocurrency, and artificial intelligence. The move reflects a broader ambition to reposition Paga from a domestic payments company into a continent-wide financial infrastructure provider.
The transition is a first for the company. Since its founding, Oviosu has led Paga’s largest and most important market, making this handover a notable moment in its evolution. It also underscores a shift in strategy as the company looks outward, beyond its Nigerian base.
Speaking recently, Oviosu described the change as a deliberate move to accelerate growth. He said it became clear about a year ago that the company needed new operational leadership to unlock its next phase, allowing him to focus on longer-term opportunities.
The timing coincides with a period of rapid growth for Paga. In 2025, the company processed ₦17.1 trillion ($12 billion) in transactions, nearly doubling its performance from the previous year. It has also expanded its footprint internationally, launching US banking services for the African diaspora through a partnership with Regent Bank and becoming PayPal’s local partner in Nigeria in early 2026 marking the global payments firm’s return to the market after nearly two decades.
Despite these milestones, Oviosu maintains that the leadership restructuring was not triggered by recent partnerships or expansion efforts. Instead, he describes it as a strategic pivot aimed at positioning Paga as what he calls a “global financial services infrastructure for Africa” a goal that requires shifting attention away from the complexities of domestic operations toward new markets and technologies.
As part of the broader reorganisation, Jay Alabraba, co-founder and director of business development, will move into a new role as Group Director of Special Projects. His focus will include building out Paga’s credit and lending offerings, as well as supporting expansion into new markets alongside Oviosu.
Both Oviosu and Alabraba stress that the changes are not a step back from the business but rather a redistribution of responsibilities. They will remain involved in high-level decisions, partnerships, and strategic direction, while a more established leadership team takes over daily operations.
At the group level, Oviosu will lead Paga Labs, a unit that has been quietly developing new financial technology products over the past 18 months. The division is expected to launch initiatives spanning blockchain infrastructure, stablecoins, and AI-driven commerce, areas the company believes will shape the future of payments and trade.
International expansion is also central to the next phase. Paga’s strategy has evolved from earlier ambitions in markets like Mexico and the Philippines to a sharper focus on Africa and its diaspora. The company is working toward enabling seamless cross-border transactions, allowing users and businesses to move money and trade across different countries through its platform or via third-party applications built on its infrastructure.
Oviosu said the choice of Oyinloye to lead Paga Nigeria reflects the depth of experience within the company. Having spent seven years overseeing operations, Oyinloye has been closely involved in both strategy and execution, giving him a comprehensive view of how the business runs.
Under the new structure, Oyinloye will report to the Paga Nigeria board, which Oviosu will chair. He will also take on group-level responsibilities, with established business units reporting into him.
The restructuring comes as Paga prepares for its next phase of growth, which is expected to include fresh fundraising and potential acquisitions. While the company is currently profitable, Oviosu acknowledged that expanding into new markets and investing in emerging technologies will require additional capital.
For years, Oviosu has been the public face of Paga, engaging directly with customers and representing the brand. He recognises that the transition may raise questions, but insists it is about scaling the company’s ambitions rather than stepping away from it.
Seventeen years after founding the company, he sees this moment as an inflection point, one that aligns with a long-held vision of building an institution that can outlast its founders. For Oviosu, the goal is not just to grow Paga, but to position it as a lasting piece of financial infrastructure connecting Africa to the global economy.
“There’s still work to do,” he said.