Paga has responded to growing customer complaints over failed transactions and delayed reversals following reactions that emerged after the company announced the appointment of Ope Oyinloye as the new Chief Executive Officer of Paga Nigeria. The complaints surfaced on social media after users flooded the company’s congratulatory Facebook post with concerns about unresolved transaction issues and difficulties accessing customer support services.
In a follow up statement shared on its official Facebook page, Paga attributed many of the transaction delays to intermittent downtime experienced by the Nigeria Inter-Bank Settlement System, commonly known as NIBSS, which serves as the central switching infrastructure for interbank transfers and digital payment processing in Nigeria. According to the fintech company, the disruptions were not limited to Paga alone but also affected several banks and financial technology platforms connected to the national payment network.
The company explained that delayed transfers and failed transactions can occur whenever there are technical interruptions involving NIBSS or receiving banks, adding that affected transactions are usually reversed automatically once normal operations resume. Paga also encouraged customers facing unresolved transaction problems to escalate complaints through its support channels by providing transaction references and registered phone numbers to enable faster investigation and resolution.
Industry analysts say the situation reflects broader challenges within Nigeria’s rapidly expanding digital payment ecosystem, where increasing transaction volumes continue to place pressure on banking and payment infrastructure. Despite the rapid adoption of cashless transactions, consumers still experience occasional disruptions linked to switching failures, network downtimes, and connectivity issues across the financial system.
Experts note that the incident highlights the growing expectation for fintech companies to improve transparency, strengthen customer service responsiveness, and maintain consumer trust as competition intensifies in Nigeria’s digital finance sector.