After 17 years running Paga’s Nigerian operations, Tayo Oviosu is stepping back from the company’s day-to-day domestic business to focus entirely on its global ambitions. In a leadership restructuring, Oviosu formally assumes the role of Group CEO, while Opeyemi Oyinloye (Paga’s general manager of business operations for the past seven years) will take over as Acting CEO of Paga Nigeria, subject to Central Bank of Nigeria approval.
The change marks a first in Paga’s history: for the first time since its founding in 2009, someone other than Oviosu will lead the fintech’s biggest and most established market.
Why Now
The timing is not accidental. Paga processed ₦17.1 trillion in transaction value in 2025, a 96% year-on-year increase. In September 2025, it launched US-based banking services for the African diaspora through a partnership with Regent Bank. In January 2026, it became PayPal’s local partner in Nigeria, facilitating the global payments network’s return to the country after two decades of absence.
What Oviosu Does Next
At the group level, Oviosu will lead Paga Labs, a unit that has been running quietly for around 18 months. The division serves as Paga’s vehicle for investing in emerging financial technologies, with products in development across stablecoins, blockchain, and AI-enabled commerce. Paga’s international expansion strategy also falls under his remit, with a sharper focus on Africa and the African diaspora than earlier ambitions to enter Mexico and the Philippines.
Oviosu wants businesses and individuals to be able to trade in China, pay someone in Vietnam, or make payments in Rwanda through Paga’s rails, either via the consumer app or through third-party applications built on Paga Engine.
Co-founder Jay Alabraba is also shifting roles, moving to Group Director of Special Projects with a focus on credit and lending products and supporting new market entry. He and Oviosu both remain available for escalations and partnership engagements but step away from daily operational decisions.
The Oyinloye Pick
Oviosu described the choice of Oyinloye as obvious. Seven years overseeing business operations gave Oyinloye visibility into every dimension of the company. As Acting CEO, he will report to the Paga Nigeria board, which Oviosu will chair.
Fundraising Ahead
Paga has raised $45 million to date and is planning a fresh round to fund its group-level ambitions. Acquisitions are also on the table. “We will see not only fundraising, but we will also likely see some acquisitions to drive that expansion,” Oviosu said. The company is currently profitable, but the scale of what it is attempting (new markets, stablecoin products, AI-powered commerce) will require new capital.
Oviosu acknowledged that his transition may raise questions about whether something is wrong at the company, but pushed back firmly on that framing. “The phrase ‘stepping back’ is actually not the right phrase,” he said. His read of the moment is more ambitious than elegiac; Act 1 ending, Act 2 beginning, and a lot still to build.
