Fintech company, Paga, has announced a major leadership restructuring that will see the founder, Tayo Oviosu become the Group CEO, while a new Nigeria CEO is named for the company.
- +Paga announces leadership shake-up as Oviosu becomes group CEO
Oviosu disclosed the changes in a corporate announcement shared on his X handle on Tuesday, confirming his transition into the role of Group CEO of Paga Group.
Oviosu disclosed the changes in a corporate announcement shared on his X handle on Tuesday, confirming his transition into the role of Group CEO of Paga Group.
He will also serve as Executive Chairman of the Group Board and Non-Executive Chairman of Paga Nigeria.
The restructuring introduces a new Group Chief Operating Officer (COO) role, which will oversee all established business lines across the group.
As part of the changes, Oviosu said Ope Oyinloye has been appointed Group COO and CEO of Paga Nigeria.
The dual role positions Oyinloye at the centre of Paga’s operational strategy, particularly in Nigeria, its largest market.
Co-founder Jay Alabraba will transition into a new role focused on special projects and market expansion, reflecting the company’s growing emphasis on entering new territories.
Paga made the headlines recently as it entered a strategic partnership with global payment platform, PayPal, marking a return of the company to Nigeria.
As of 2024, Paga said it had processed transactions worth N14 trillion over 15 years.
The figure from Paga further confirms the rising embrace of mobile money in Nigeria. Recent data released by the Nigeria Inter-Bank Settlement Systems (NIBSS) revealed that mobile money operators in the country, including Paga, Opay, and Palmpay, among others, processed N71.5 trillion between January and December 2024.
