Paga founder Tayo Oviosu has stepped back from day-to-day operations in Nigeria, transitioning to Group CEO in a significant leadership restructuring. This change is designed to accelerate the company’s continental and global ambitions.
Under the new structure, Opeyemi Oyinloye, formerly General Manager of Business Operations, will assume the role of Acting CEO of Paga Nigeria. This is subject to regulatory approval from the Central Bank of Nigeria. The move marks the first time in the company’s 17-year history that Oviosu will not directly oversee its largest and most mature market.
The shift reflects a deliberate strategic pivot. Oviosu will now focus on scaling Paga beyond Nigeria. Specifically, he will target new African markets while deepening investments in stablecoins, blockchain infrastructure, and artificial intelligence-driven commerce. Internally, this transition has been framed as the beginning of a new growth phase. The company is evolving from a domestic payments platform into a broader financial services infrastructure player.
Paga’s timing underscores its momentum. The company processed ₦17.1 trillion ($12 billion) in transaction value in 2025, representing a 96% year-on-year increase. It has also expanded internationally. For example, it launched U.S. banking services for the African diaspora via a partnership with Regent Bank. In addition, it became a local partner to PayPal in Nigeria in early 2026—signaling renewed integration with global payment networks.
New Leadership Structure
At the group level, Oviosu will lead Paga Labs, a relatively low-profile unit that has been operational for roughly 18 months. The division is positioned as the company’s innovation engine. Upcoming product launches are expected across three verticals: stablecoins, blockchain-enabled financial rails, and AI-powered commerce solutions. The strategic question underpinning this effort is how emerging technologies can simplify transactions and expand access to digital commerce across fragmented markets.
Alongside Oviosu, co-founder Jay Alabraba will transition into the role of Group Director of Special Projects. His mandate includes advancing credit and lending products and supporting cross-border expansion initiatives. These are two areas central to Paga’s next phase of growth.
The restructuring is less a reactive move and more a premeditated evolution. According to Oviosu, the decision had been in motion prior to recent milestones such as the PayPal partnership and U.S. expansion. The core driver is strategic clarity. Building what he describes as a “global financial services infrastructure for Africa” requires decoupling executive oversight from operational execution.
Oyinloye’s appointment reflects that operational continuity. Having spent seven years overseeing business operations, he brings deep institutional knowledge across execution, internal systems, and workforce management. As Acting CEO of Paga Nigeria, he will report to the local board—chaired by Oviosu—while also serving as Group COO at the parent company level in the United Kingdom.
