By Ghazali Ibrahim
After more than a decade of conversations, planning and regulatory work, PayPal has officially launched its services in Nigeria through a partnership with local fintech company, Paga, marking a major milestone for the country’s digital payments ecosystem.
The announcement was made by Tayo Oviosu, Paga’s founder, who revealed that the journey began as far back as August 2013, when Nigeria’s fintech space was still in its infancy and global technology companies had yet to fully recognise Africa’s economic potential.
At the time, Paga was only a few years old, but the vision was already clear: Nigeria would become one of the world’s most important economies, and collaboration between global platforms and local infrastructure would be key to unlocking that future.
According to the statement, an initial proposal sent to PayPal in 2013 outlined how Paga could serve as an on-ramp and off-ramp for PayPal in Nigeria, enabling Nigerians to use PayPal globally and allowing Nigerian merchants to accept PayPal payments. That vision, though slow to materialise, has now become reality.
With PayPal now live in Nigeria via Paga, Nigerians can, for the first time, receive money through PayPal. This new capability is available exclusively to PayPal Nigeria accounts that are linked to Paga. Users can link their PayPal accounts directly within the Paga app, view their PayPal balances, and withdraw funds in naira at their convenience.
The development is expected to have far-reaching implications for gig workers, freelancers, merchants and families.
Nigerian gig workers can now receive international payments through PayPal, merchants can accept PayPal payments from customers around the world, and individuals can receive funds from family members abroad.
The partnership is expected to significantly boost Nigeria’s participation in the global digital economy, making payments more accessible to individuals and businesses alike.
