Global payments giant PayPal has reopened Nigeria to inbound transactions for the first time in two decades through a landmark partnership with Nigerian fintech firm Paga. This move ends a long-standing restriction that limited Nigerian users to "send-only" functions, effectively locking them out of receiving international payments on the platform.
The collaboration, announced by Paga's Founder and CEO Tayo Oviosu on LinkedIn, will allow Nigerians to link their PayPal accounts to Paga digital wallets. Users can now view PayPal balances within the Paga app, convert funds to Naira, and withdraw money locally.
Oviosu revealed that his first formal proposal to PayPal dates back to August 2013, when Nigeria's fintech ecosystem was in its infancy. “It would take more than a decade for that belief to fully materialize. Today, I’m proud to share that PayPal is now live in Nigeria through Paga,” he stated.
Historically, PayPal had cited fraud risks and regulatory complexity for restricting services in Nigeria since 2004. The limitation forced Nigerian freelancers, online merchants, and digital workers to rely on alternative, often more expensive, methods to receive international earnings.
The new integration is expected to be a major boost for the digital economy, enabling freelancers to receive client payments, facilitating diaspora remittances, and integrating Nigerian businesses more seamlessly into global commerce. Oviosu emphasized that the partnership reflects a strategy of complementing global platforms with robust local infrastructure and compliance.
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