Yele Bademosi has stepped down as chief executive officer of Onboard after nearly five years at the helm, transitioning to the role of chairman. Meanwhile, Paul Oladimeji, who was previously product lead for Nestcoin, assumes the position of CEO.
The announcement came on August 31, 2026, via a statement shared by Bademosi on social media, outlining the leadership change as part of a broader structural evolution for the company.
Onboard was spun out of Nestcoin in 2023 and is a global money application that enables users to receive, spend, and send US dollars, other major currencies, and stablecoins. The platform focuses on expanding access to financial services for individuals and businesses in Africa and other emerging markets.
Bademosi, who co-founded the company, explained that the leadership change is a response to the changing regulatory environment surrounding digital financial services. Onboard is placing greater emphasis on establishing robust local regulatory foundations and forging strategic partnerships.
Oladimeji brings deep institutional knowledge to the CEO role. He has played a central part in developing the products and infrastructure that power Onboard today. Most recently, he oversaw the creation of Onboard Business and the Onboard API, both of which are growing in importance as the company expands its offerings.
Before joining Onboard, Oladimeji spent more than eight years building technology products, including financial infrastructure at TeamApt, which later became Moniepoint. Bademosi highlighted Oladimeji’s thorough understanding of Onboard’s product suite, technology stack, customer base, team dynamics, and target markets, expressing strong confidence in his capacity to guide the organisation forward after four years of close collaboration.
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Leadership transition and strategic direction at Onboard
As CEO, Oladimeji will take charge of day-to-day operations. Bademosi, in his new capacity as chairman, will remain actively engaged, concentrating on capital allocation, strategic partnerships, investor relations, and governance while supporting Oladimeji and the wider team through the company’s ongoing transition.
The transition coincides with Onboard’s evolution from a primarily consumer-focused platform into a broader financial services and infrastructure provider. Through Onboard Business and the Onboard API, the company is working to connect local currencies, dollars, and stablecoins across emerging markets, serving both individual users and business clients.
Bademosi highlighted that Onboard’s core mission continues unchanged. Instead, the operating model is adapting to strengthen regulatory and operational foundations, accelerate growth in the business and API products, and prepare for the forthcoming chapter in Nigeria.
He expressed gratitude to the employees, investors, partners, and users who have contributed to Onboard’s progress over the years and conveyed enthusiasm for the leadership Oladimeji will provide in the next phase.
Last updated: August 31, 2026
