Paga CEO Says Monthly Transaction Volume Hits $1.5B

In Short

• Paga CEO Tayo Oviosu says the company processes about $1.5 billion in transactions every month.
• He also said the business is valued in the hundreds of millions of dollars.
• Oviosu shared the figures in a School of Hard Knocks interview recorded in Nigeria.

What Happened

Paga, a Nigerian fintech known for digital payments and agent banking, is processing about $1.5 billion in monthly transaction volume, according to its founder and CEO Tayo Oviosu.

Oviosu made the disclosure during an interview with School of Hard Knocks, a business interview series that recently returned to Nigeria. He said the company has more than 200 employees.

He also said Paga is valued in the “hundreds of millions of dollars.” Oviosu added that the company has made about $60 million in revenue in a single year. He also said the most he has personally earned in a year was $60 million.

Transaction volume is the total value of money that moves through a platform. It is not the same as revenue, which is what a company keeps after fees.

Why It Matters

Scale signals staying power in African fintech. A $1.5 billion monthly transaction volume suggests Paga is still a major payments rail in Nigeria, even as competition grows across wallets, bank transfers, cards, and merchant payments.

The numbers also highlight how agent networks continue to matter. Agent banking, which is cash-in and cash-out through local kiosks, remains a key channel for serving customers who do not rely on traditional bank branches.

For founders and investors, the comments offer a rare glimpse into operating metrics and business economics. Valuation talk is often private, but public hints can shape market expectations, hiring, and future fundraising.

Finally, Oviosu tied his outlook to demographics. He argued that Africa’s young population creates long-term demand for new financial services, from everyday payments to consumer and SME tools.