By Adedapo Adesanya
VertoFX, a global financial technology firm delivering enterprise-grade cross-border payments, foreign exchange (FX) and banking solutions across emerging markets, has announced the appointment of Mr Austin Okpagu as its first Country Manager for Nigeria.
His appointment is part of the company’s long-term commitment to the nation and the broader West African region.
Mr Okpagu recently served as the Managing Director at JumiaPay. He is expected to bring his extensive experience to the firm from several of Nigeria’s most prominent fintech platforms, including OPay and Pagatech, where he drove partnership and business development efforts in both respective companies.
According to a statement shared with Business Post, in his new role at VertoFX, Mr Okpagu will spearhead VertoFX’s newly opened offices in Victoria Island, Lagos, to achieve on-ground business growth targets, foster strong relationships with local stakeholders and implement tailored solutions to Nigerian customers’ needs and requirements.
Speaking on Mr Okpagu’s appointment and VertoFX’s new physical presence in Nigeria, the co-founder and CEO of VertoFX, Mr Ola Oyetayo, said, “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.”
“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,” he added.
VertoFX’s cutting-edge technology enables businesses of all sizes to make secure and seamless cross-border payments, convert between 50 currencies at competitive exchange rates and instantly send and receive money in over 200 countries.
Since launching operations in Nigeria in 2017, the company has built an impressive portfolio of clients, including some of the largest enterprises doing business in Africa, who rely on the company’s innovative and reliable financial services for their local and international business needs.
Commenting on his new role as Country Manager at VertoFX Nigeria, Mr Okpagu stated, “It’s an honour 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.”
“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,” he added.
Over the past year, VertoFX has facilitated over $2.7 billion in cross-border transactions for Nigerian corporations. During the same time, the company experienced a staggering 75 per cent increase in some Nigerian enterprises using its platform for their international payment needs.
At a time when the Nigerian market is affected by currency restrictions and local exchange controls necessitated by tough global economic conditions, currency devaluations and inflation, these figures reinforce VertoFX’s focus on providing reliable solutions for its customers