Paga processes $1.5bn monthly, unfazed by fintech competition — CEO

Tayo Oviosu, CEO and Founder of Paga, a leading Nigerian fintech company, stated at Moonshot 2026, a technology conference in Lagos, that the company's processing of over $1.5 billion in transactions monthly was not threatened by competition in the fintech sector. Oviosu emphasized that competition was a positive sign of a growing market and that businesses could focus on different aspects of the financial industry, allowing multiple players to thrive.

Paga's infrastructure supports over 400 fintech and technology companies, processing billions of dollars in monthly transactions. The CEO also noted that access to capital remained the biggest challenge for businesses looking to expand, although he pointed out that developments in Nigeria's capital markets were encouraging. Co-founder and COO of PiggyVest, Odunayo Eweniyi, discussed the opportunities and challenges of expanding Nigerian businesses into international markets, particularly the United Kingdom.

Eweniyi highlighted the benefits of the growing Nigerian community in the UK, such as building professional relationships, finding advice, and creating networks. She also mentioned that the similarities between Nigerian and UK business environments made it easier to connect with people who understood their experiences.