Strengthening Commitment to West Africa

Global fintech firm VertoFX, renowned for its enterprise-grade cross-border payments, FX, and banking solutions, has appointed Dr. Austin Okpagu as its first Country Manager for Nigeria. This strategic move underscores VertoFX’s dedication to the Nigerian market and the wider West African region.

A Wealth of Experience

Dr. Austin Okpagu, formerly the Managing Director at JumiaPay, brings extensive experience from prominent Nigerian fintech platforms such as OPay and Pagatech. His expertise in partnership and business development will be pivotal in his new role at VertoFX. Okpagu will lead the company's newly opened office in Victoria Island, Lagos, driving business growth, building strong local relationships, and addressing the specific needs of Nigerian customers.

Leadership Perspective: VertoFX’s Vision for Nigeria

Commenting on the new appointment, Ola Oyetayo, Co-Founder and CEO of VertoFX, expressed enthusiasm: “We are delighted to welcome Austin as our first Country Manager for Nigeria. His proven expertise in the payments sector and deep understanding of the local economic market make him the ideal candidate to take charge of our operations in West Africa.”

Enhancing Service Delivery

Oyetayo continued, “With our on-the-ground presence in Nigeria, we are strongly positioned to better serve our customers, support local businesses, and contribute to the region's economic development. This aligns with our vision to become the leading provider of B2B cross-border payment solutions in Africa.”

VertoFX’s Technology and Services

VertoFX leverages cutting-edge technology to enable businesses of all sizes to conduct secure and seamless cross-border payments. The platform allows conversion between 50 currencies at competitive rates and facilitates instant money transfers in over 200 countries. Since its launch in Nigeria in 2017, VertoFX has attracted a robust client portfolio, including some of Africa’s largest enterprises, who rely on its innovative financial services for both local and international operations.

Dr. Okpagu’s Vision for VertoFX Nigeria

In his new role, Dr. Austin Okpagu expressed his enthusiasm: “It’s an honour to join the VertoFX team in their mission to become the go-to financial services partner for businesses in Nigeria and globally.”

Okpagu highlighted VertoFX’s pivotal role during complex macroeconomic conditions, noting, “VertoFX has provided crucial financial solutions to Nigerian enterprises, helping them stay resilient in the face of adversity. I look forward to collaborating with key stakeholders in the Nigerian financial sector to enhance our offerings, aiming for a deep and lasting positive impact for local founders and business owners.”

VertoFX’s Impact in Nigeria

Over the past year, VertoFX has facilitated over $2.7 billion in cross-border transactions for Nigerian corporations. The company has seen a remarkable 75% increase in the number of Nigerian enterprises using its platform for international payments during the same period.

Addressing Economic Challenges

In a market affected by currency restrictions, local exchange controls, currency devaluations, and inflation, VertoFX’s focus on providing reliable solutions is more critical than ever. These figures highlight VertoFX’s commitment to supporting its customers amidst challenging economic conditions.