• Paga Group expands to the U.S., offering digital banking services.
• The fintech targets the estimated 760,000-strong Nigerian diaspora.
• Paga aims to capture a share of Nigeria's $21 billion remittance market.

Lagos-based fintech Paga Group on Monday, September 22, 2025, announced its entry into the U.S. market. The company will offer digital banking services, primarily targeting the African diaspora, particularly the Nigerian community.

Paga will launch its U.S. operations in partnership with a regulated American bank. Its U.S. service will facilitate account opening and management, dollar savings, and cross-border payments, including remittances to Africa.

The Nigerian diaspora in the United States reached an estimated 760,000 individuals in 2023, with approximately 476,000 born in Nigeria. This population has grown rapidly, from 25,000 in 1980, reflecting an average annual growth rate of 4.8%.

Remittances represent a significant financial flow. Transfers to Nigeria totaled $21 billion in 2024, an increase from $19.5 billion in 2023. This inflow constitutes a primary source of foreign exchange for the nation. Paga aims to attract a portion of this strategic market by offering a tailored solution.

Tayo Oviosu, founder of Paga Group, said millions of Africans abroad struggle with costly and complicated access to banking, savings, and remittances, noting that more than 4.5 million African immigrants in the U.S. face a financial system not built for them—barriers his company aims to dismantle.

Founded in 2009 by Tayo Oviosu, Paga now bases its operations in the United Kingdom, though its primary activities remain in Africa. In Nigeria, Paga reports over 20 million users and a monthly transaction volume exceeding $653 million in 2025. Its ecosystem processed 124 million transactions valued at $5.6 billion in total during 2024.

With its U.S. expansion, Paga embarks on an international strategy. This move seeks to broaden its market beyond Africa and support the financial needs of the African diaspora in the United States.

This article was initially published in French by Chamberline Moko; 

Adapted in English by Ange Jason Quenum