Tayo Oviosu is transitioning from the day-to-day working of Paga Nigeria after 17 years and getting into a brand new position as Group CEO in a serious management reshuffle at one among Africa’s oldest fintechs.
Opeyemi Oyinloye, the corporate’s common supervisor of enterprise operations, will take over as Performing CEO of Paga Nigeria, pending the Central Financial institution of Nigeria’s regulatory approval.
Oviosu strikes as much as Group CEO, the place he’ll give attention to increasing into new African markets and constructing out Paga’s investments in stablecoins, crypto, and synthetic intelligence (AI).
The transition marks the primary time in Paga’s historical past that somebody aside from Oviosu will lead its largest market. It additionally indicators that one among Africa’s oldest fintechs is increasing to develop into greater than a Nigerian funds firm.
“Act 1 of Paga ended, and Act 2 is starting,” Oviosu informed TechCabal in an interview at his Lagos workplace in March. “It turned very clear to me a few 12 months in the past that for us to speed up, we’d like another person to come back and run the day-to-day of the enterprise traces.”
The restructuring comes at a big second for Paga. The corporate processed ₦17.1 trillion ($12 billion) in transaction worth in 2025, a 96% year-on-year soar. It launched US banking companies for the African diaspora in September 2025 via a partnership with Regent Financial institution, and in January 2026, it turned PayPal’s native associate in Nigeria, marking the worldwide funds community’s return to the nation after 20 years.
Oviosu desires Paga to go even additional by increasing into new African markets, stablecoins, and AI-powered commerce, efforts he couldn’t lead whereas working the corporate’s advanced home operations.
The corporate has raised $35 million so far from buyers, together with the International Innovation Fund, Omidyar Community, and Adlevo Capital, and is planning a brand new funding spherical.
Oviosu stated the transition had been within the works since final 12 months, earlier than the PayPal partnership and the US enlargement, not due to them.
The set off, he stated, was strategic. Paga desires to be what Oviousu calls the “international monetary companies infrastructure for Africa”, and reaching that aim requires shifting from home operations to new markets and new applied sciences.
Jay Alabraba, Paga’s co-founder and director of enterprise growth, can be transitioning to group director of particular initiatives, with an preliminary give attention to two priorities: constructing out Paga’s monetary companies choices round credit score and lending and supporting Oviosu on new market entry.
Alabraba described the restructuring as a pure evolution fairly than a disruption.
“We’ve got a powerful sufficient workforce that may proceed to run sure issues whereas different elements of the enterprise can give attention to new areas of progress,” he informed TechCabal in a separate interview on a name in March.
He emphasised that neither he nor Oviosu is stepping away from the corporate. They continue to be obtainable for design discussions, escalations, and partnership engagements, however the day-to-day operational choices will now not require their direct involvement, he added.
What Oviosu will now do as Group CEO
On the group degree, Oviosu will lead Paga Labs, a unit that has been working quietly for about 18 months. The division is Paga’s automobile for investing in rising monetary applied sciences, and Oviosu stated it’s getting ready to launch merchandise throughout three areas: stablecoins, blockchain (the place it has already partnered with native companions), and AI-enabled commerce.
“How does AI have an effect on funds? How does AI come into the world of what we’re constructing and make issues simply simpler? Make commerce simpler,” Oviosu stated. “These are the issues that we’re going to lean on very strongly.”
Oviosu would additionally lead Paga’s worldwide enlargement, as the corporate’s technique has developed from earlier ambitions to enter markets like Mexico and the Philippines to a sharper give attention to Africa and the African diaspora.
The US launch was a deliberate step towards giving Africans entry to international monetary rails, and the PayPal partnership was designed to attach Nigerians to international commerce, Oviosu stated.
Paga’s subsequent section is opening its infrastructure to monetary techniques in different international locations, enabling companies and people to commerce and make cross-border funds via the corporate’s client app or via third-party functions constructed on Paga Engine.
“You must be capable to, via Paga’s infrastructure, commerce in China. By way of Paga’s infrastructure, pay somebody in Vietnam simply. Present up in Rwanda and make your funds,” Oviosu stated.
Why Oyinloye?
Oviosu stated the selection of Oyinloye, who managed the corporate’s enterprise operations for seven years, displays the management depth Paga has constructed over 17 years.
“It was a really apparent selection for us,” Oviosu stated. “He has been with us for seven years, working operations for the enterprise and being integral to our technique formulation and to our execution.”
Oviosu described Oyinloye’s earlier position utilizing an analogy: if Paga have been making sausages, Oyinloye was not chargeable for selecting which sausages to make however for guaranteeing that no matter sausages have been being made have been made rather well. That inside focus gave Oyinloye visibility into each dimension of the enterprise, from technique alignment and execution cadence to how the corporate takes care of its individuals, Oviosu stated.
As CEO of Paga Nigeria, Oyinloye will report back to the Paga Nigeria board, which Oviosu will chair. Oviosu has at all times been the board chairman for Paga Group. The position additionally carries the title of Group CEO at the UK mother or father degree, with all established companies reporting to him.
Alabraba, who labored intently with regulators, buyers, and companions in his earlier position, stated Paga’s management bench extends past Oyinloye. “We’ve got common managers of our enterprise traces which are deeply skilled, with a number of years inside Paga, and they’re additionally tradition carriers inside the organisation,” he informed TechCabal.
What’s subsequent for Paga?
The restructuring will not be tied to a particular capital elevate, Oviosu stated, however he confirmed that Paga will exit and lift contemporary funding to finance its group-level ambitions. The corporate can be prone to pursue acquisitions to increase into new markets.
“We’ll see not solely fundraising, however we may even probably see some acquisitions to drive that enlargement,” Oviosu added.
Paga is presently worthwhile, which Oviosu stated offers the corporate the flexibility to regulate its personal future. However the scale of what it’s making an attempt—coming into new African international locations, constructing stablecoin merchandise, and investing in AI-powered commerce—would require contemporary capital.
Alabraba echoed the necessity for contemporary funding, noting that whereas the restructuring will not be a fundraising prerequisite, it reveals the dimensions Paga desires to function at and the type of funding required.
“There will likely be fundraising occasions within the close to future,” he stated.
The query of notion
For 17 years, Oviosu has been the general public face of Paga, responding to buyer complaints on X, partaking straight with customers, and serving as the corporate’s most seen spokesperson. He acknowledged that his transition could elevate questions on whether or not one thing is incorrect on the firm.
“The phrase ‘stepping again’ is definitely not the best phrase,” he stated, noting that he acquired emotional when informing the CBN in regards to the change. “My little one’s first phrase was Paga.”
The transition, nevertheless, is about acceleration, not retreat. He plans to stay energetic on social media, proceed partaking with prospects, and nonetheless come to the workplace. The broader management workforce can be turning into extra seen.
On the very first city corridor Paga ever held, Oviosu informed his workforce two issues that stunned them. The primary was that he wished Paga to exist in some kind 200 years from now. The second was that he wouldn’t be there endlessly, however he meant to maneuver via the corporate on his personal phrases.
Seventeen years in, Oviosu sees this restructuring because the inflexion level he described again then. The enterprise is worthwhile, nonetheless scaling at enterprise tempo, and working in a aggressive market that calls for fixed vigilance.
Nonetheless, the chance to construct monetary infrastructure that connects Africa to international monetary techniques is, in his view, too giant to pursue whereas additionally working the day-to-day of a posh Nigerian operation.
“I’m definitely not going to Bora Bora,” Oviosu stated. “There’s nonetheless work to do.”
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