VertoFX, a global leader in financial technology, has announced the appointment of Dr. Austin Okpagu as its first Country Manager for Nigeria. This strategic move underscores VertoFX’s commitment to expanding its presence in Nigeria and the broader West African market, further solidifying its role in providing innovative cross-border payment solutions.
Dr. Austin Okpagu brings a wealth of experience to his new role at VertoFX. Prior to joining VertoFX, he served as Managing Director at JumiaPay and played significant roles at other leading fintech companies in Nigeria, including OPay and Pagatech. During his tenure at these firms, he was instrumental in driving partnership and business development initiatives, which significantly contributed to their growth and success.
In his new position, Dr. Okpagu will lead VertoFX’s operations from its newly established office in Victoria Island, Lagos. His responsibilities will include achieving business growth targets, fostering strong relationships with local stakeholders, and delivering tailored financial solutions to meet the specific needs of Nigerian businesses.
Founded in 2017, VertoFX has quickly become a key player in the financial technology sector, specializing in cross-border payments, foreign exchange, and banking solutions. The company’s cutting-edge technology enables businesses of all sizes to conduct secure and seamless cross-border transactions, offering competitive exchange rates across 50 currencies and the ability to send and receive money in over 200 countries.
VertoFX’s robust platform has attracted a diverse portfolio of clients, including some of the largest enterprises operating in Africa. These clients rely on VertoFX’s reliable financial services to support their local and international business operations.
Nigeria, Africa’s largest economy, represents a critical market for VertoFX’s expansion plans. With a rapidly growing fintech ecosystem and increasing demand for efficient payment solutions, Nigeria offers significant opportunities for innovation and growth. By establishing a physical presence in Nigeria, VertoFX aims to enhance its service delivery, better support local businesses, and contribute to the region’s economic development.
Ola Oyetayo, Co-Founder and CEO of VertoFX, expressed his enthusiasm about the new appointment, stating, “We are delighted to welcome Austin as our first Country Manager for Nigeria. Austin’s 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.”
Oyetayo further emphasized the strategic importance of Nigeria for VertoFX’s growth, adding, “With our on-the-ground presence in Nigeria, we are strongly positioned to better serve our customers, support local businesses, and contribute to the economic development of the region; moving in line with our vision to become the leading provider of B2B cross-border payment solutions in Africa.”
Dr. Austin Okpagu also shared his excitement about joining VertoFX, stating, “It’s an honor to be joining the VertoFX team in their mission to become the go-to financial services partner for businesses operating in Nigeria and on the global scale.”
He continued, “During recent and especially complex macroeconomic conditions, VertoFX has stood out with its ability to provide urgently needed financial solutions to Nigerian enterprises, helping them stay resilient in the face of adversity. I look forward to working closely with key public and private stakeholders in the Nigerian financial sector to further enhance our offerings, targeting a deep and lasting positive impact for local founders and business owners.”
In the past year alone, VertoFX has facilitated over $2.7 billion in cross-border transactions for Nigerian corporations. The company has also witnessed a remarkable 75% increase in the number of Nigerian enterprises utilizing its platform for international payment needs. This growth reflects the company’s effectiveness in addressing the evolving financial requirements of businesses in the region.
As VertoFX continues to expand its footprint in Nigeria, the firm is poised to play a pivotal role in the country’s fintech revolution. With Dr. Austin Okpagu at the helm, VertoFX is well-positioned to drive innovation, foster economic growth, and empower Nigerian businesses with the financial tools they need to thrive in a global economy.
