Paga Says it Processes $1.5 Billion in Monthly Transactions

In Short

Paga says it processes over $1.5 billion in transactions every month.

The company’s CEO and founder, Tayo Oviosu, says more than 400 fintech and technology companies use Paga’s infrastructure.

Oviosu also says rising fintech competition in Nigeria is not a threat, but a sign the market is expanding.

What Happened: Paga’s Transaction Volume And Infrastructure Pitch

Paga Paga founder and CEO Tayo Oviosu said the company processes over $1.5 billion in transactions monthly.

Oviosu shared the update while speaking at Moonshot 2026 by Tech Cabal, a technology conference held at the National Theatre in Lagos.

He said Paga plays an infrastructure role for other businesses. In this context, infrastructure means the underlying rails that other companies can use to build and run payment or money movement services, similar to how apps run on cloud servers.

Oviosu said more than 400 fintech and technology companies use Paga’s infrastructure.

He also addressed concerns about the growing number of fintech companies in Nigeria. He said competition is “great,” that it “keeps us on our toes,” and that it shows the market is expanding.

Why It Matters: Competition As A Market Signal

Oviosu framed competition as evidence of demand, not a direct threat.

For founders and operators building financial products, Paga’s claim that hundreds of companies already use its infrastructure points to an active B2B market, where fintechs sell tools and rails to other fintechs.

The $1.5 billion monthly transaction figure also signals the scale of activity that payment infrastructure providers in Nigeria can reach, even as more players enter the market.