Tayo Oviosu, founder of leading fintech firm Paga, has stepped away from day-to-day operations in Nigeria after 17 years, assuming a new role as Group CEO in a major leadership shake-up aimed at accelerating the company’s global ambitions.
The company announced that Opeyemi Oyinloye, its General Manager of Business Operations, will serve as Acting CEO of Paga Nigeria, pending regulatory approval from the Central Bank of Nigeria (CBN).
Strategic shift after 17 years
Oviosu’s transition marks the first time in Paga’s history that someone else will lead its core Nigerian business, signalling a strategic shift from a domestic payments company to a broader pan-African and global financial services platform.
Describing the move as a new phase for the company, Oviosu said the decision was driven by the need to scale beyond Nigeria.
“Act 1 of Paga has ended, and Act 2 is beginning,” he said, noting that the company requires dedicated leadership to manage daily operations while it expands into new markets and technologies.
Focus on expansion, emerging tech
As Group CEO, Oviosu will spearhead Paga’s international expansion across Africa and the diaspora, while also leading investments in emerging technologies such as stablecoins, blockchain, and artificial intelligence (AI)-driven commerce.
The company is also doubling down on its long-term vision of becoming a “global financial services infrastructure for Africa,” enabling seamless cross-border payments and digital transactions.
Growth momentum builds
The leadership overhaul comes amid strong growth for the fintech firm. Paga processed ₦17.1 trillion ($12 billion) in transactions in 2025, representing a 96 per cent year-on-year increase.
In recent months, the company has expanded its footprint by launching US banking services for the African diaspora through a partnership with Regent Bank and securing a local partnership with PayPal—marking the global payments giant’s return to Nigeria.
Why Oyinloye?
Oviosu described Oyinloye’s appointment as a natural choice, citing his seven-year track record overseeing business operations and playing a key role in executing the company’s strategy.
“He has been integral to how we run and scale the business,” Oviosu said, adding that Oyinloye’s deep operational insight positions him well to lead Paga’s largest market.
As Acting CEO, Oyinloye will oversee Nigeria operations while also holding a Group COO role at the parent company level, reporting to the board chaired by Oviosu.
Leadership reshuffle continues
Co-founder Jay Alabraba has also transitioned to Group Director of Special Projects, where he will focus on expanding Paga’s credit and lending offerings and supporting new market entry strategies.
Alabraba said the restructuring reflects the company’s maturity and depth of leadership, emphasising that the founders remain actively involved in strategic decisions and partnerships.
Funding, acquisitions on the horizon
Looking ahead, Paga plans to raise fresh capital to support its expansion and may pursue acquisitions as it enters new markets.
While the company is currently profitable, Oviosu noted that scaling across Africa and investing in advanced technologies will require significant funding.
“Not stepping back”
Addressing concerns about his reduced operational role, Oviosu clarified that the move is not a retreat but a strategic repositioning.
“The phrase ‘stepping back’ is not accurate,” he said. “There’s still a lot of work to do.”
He added that he will remain actively engaged with customers, partners, and the broader fintech ecosystem as Paga enters its next phase of growth.
With the restructuring, Paga is positioning itself to compete at a global level, leveraging its Nigerian roots to build a financial infrastructure that connects Africa to the rest of the world.
