Paga restructures leadership as Tayo Oviosu steps up to Group CEO

Paga, one of Africa’s pioneering fintech companies, has announced a major leadership restructuring that will see its founder, Tayo Oviosu, transition from overseeing daily operations in Nigeria to a broader strategic role as Group Chief Executive Officer.

The move comes after 17 years of Oviosu leading the company’s core Nigerian business. In his new position, he will focus on driving Paga’s expansion across Africa and deepening its investments in emerging technologies such as artificial intelligence, stablecoins, and cryptocurrency.

As part of the transition, Opeyemi Oyinloye, currently the firm’s General Manager for Business Operations, has been appointed Acting CEO of Paga Nigeria. Her appointment is subject to regulatory approval by the Central Bank of Nigeria.

This development marks a significant shift for the company, as it will be the first time someone other than Oviosu will head its largest and most established market. The change underscores Paga’s ambition to evolve beyond a Nigeria-focused payments platform into a broader financial services infrastructure serving the African continent.
Speaking on the decision, Oviosu explained that the need for growth acceleration informed the leadership change. He noted that delegating operational responsibilities would allow him to concentrate on long-term strategic opportunities and innovation.

The restructuring comes amid strong business performance. In 2025, Paga processed transactions valued at ₦17.1 trillion, representing a 96 per cent increase compared to the previous year. The company also expanded its global footprint by launching U.S. banking services for the African diaspora through a partnership with Regent Bank in September 2025.

In a further milestone, Paga secured a partnership with PayPal in January 2026, becoming the global payments giant’s local partner in Nigeria—an arrangement that marked PayPal’s return to the Nigerian market after about two decades.

According to Oviosu, the leadership shift had been planned well before these milestones and was driven primarily by long-term strategic goals rather than recent developments. He emphasised that Paga’s vision is to build a global financial services infrastructure for Africa, a target that requires dedicated focus on new markets and innovative technologies.

Also affected by the restructuring is Jay Alabraba, co-founder and Director of Business Development, who will now serve as Group Director of Special Projects. In his new role, he will concentrate on expanding the company’s credit and lending offerings, as well as supporting market entry initiatives across Africa.

Alabraba described the changes as a natural progression for the company, highlighting the strength of Paga’s leadership team to sustain ongoing operations while pursuing new growth opportunities.

He added that both he and Oviosu will remain actively involved in high-level decision-making, partnerships, and strategic design, even as they step back from day-to-day operational responsibilities.

Paga, which has raised $45 million from investors including the Global Innovation Fund, Omidyar Network, and Adlevo Capital, is also preparing for a fresh funding round to support its next phase of growth.

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