Paga

Paga was founded in 2009 by Tayo Oviosu with the ambition of making financial services more accessible through mobile technology, offering services that allowed customers to transfer money, pay bills, purchase airtime and make payments through mobile phones and Paga agents. Paga received its full operational licence from the Central Bank of Nigeria in November 2011.

Over the years, Paga has expanded from a mobile payments service into a broader financial services and payments infrastructure company. Its current offering covers three broad areas: enterprise infrastructure through Paga Engine, business services through Doroki, and consumer financial services through the Paga platform. The company currently says it has more than 27,000 agents nationwide in Nigeria.

The scale of transactions processed through the platform illustrates the growth of the business. Paga reports that it processed ₦8 trillion in transaction value during 2024 and ended that year with ₦21 trillion processed since inception across 432 million transactions, followed by ₦17.1 trillion in transaction value for 2025.

With a maiden FBSI Score of 62.7/100, Paga ranks 12th among the 20 fintech brands in this year's listing. Its foundations were laid in mobile money and agent-led access, and the company has gradually added digital payments, merchant services, remittances and payment infrastructure around that base, placing it between a consumer payments platform and a financial technology infrastructure provider.