Nigeria: Paga Records N47 Billion Transactions in Two Years

Money Transfer

Paga Mobile Payment Services has said it recorded 4.4 million transactions valued at N47 billion in the last two years as more Nigerians embrace the cashless policy.

Also, the firm rewarded, Murphy Ishichie, who emerged its one millionth customer with a cash prize of N100, 000 in Lagos. Commenting on the feat achieved by the mobile payment firm, Chief Executive Officer, Paga, Tayo Oviosu, described the one million users mark in two years as fantastic.

Oviosu said: “Knowing that every minute 12 Nigerians get their payment problems solved using Paga excites our team. It has taken teamwork and partnership to get here. I am grateful to our over 160-person team, our investors who believed in us and provided the funding to execute our plans, our agents who are the lifeblood of Paga, and our business partners.

He noted the support of the Central Bank of Nigeria to his firm. The Paga boss however pointed out that the continued growth and success of the industry was hinged on the ability of all stakeholders to work together.

On his part, the Co-founder of Paga, Jay Alabraba, said achieving the one million users’ market reflects the significant growth prospect for mobile payment in Nigeria.

Alabraba said the goal of the firm was also to deliver low cost banking services to Nigerians.

Also, the Chairman of the Association of Licensed Mobile Payment Operators (ALMPO), Dara Owolabi, congratulated Paga over the feat it achieved, saying that it showed that Nigerians were ready and eager to adopt new payment channels.