PayPal is crawling back to Nigeria for growth, cash, and relevance, while locals side-eye motives shaped by old restrictions and new fintech muscle.
Why PayPal is back
PayPal hunts fresh revenue as Western growth cools.
Stock value has cratered hard, adding pressure to expand abroad.
Africa sits front and center in the recovery playbook.
What went wrong before
Nigerian accounts once worked one-way, cash out only, never cash in.
Fraud fears and weak ID systems were blamed for tight controls.
Freelancers and small firms got locked out for years.
Nigeria built its own rails
Local fintechs filled the vacuum and kept scaling anyway.
Cross-border payments thrived without PayPal’s help.
Banks and startups grabbed remittances and global...