A leading financial institution in Nigeria – OPay – has demonstrated its commitment to advancing education by signing a landmark Memorandum of Understanding (MoU) with the University of Ibadan (UI).
The partnership, which reinforces OPay’s dedication to fostering academic excellence and empowering the next generation of Nigerian leaders, will award N300,000 scholarships annually to 20 exceptional students over the next 10 years.
The MoU signing, held at the UI, was attended by representatives from OPay, management staff of the varsity and some beneficiaries of the scholarship.
The event highlighted OPay’s commitment to supporting the education of promising young Nigerians.
Piloting with the UI, the scholarship initiative which is an important Community and Social Responsibility (CSR) project for OPay is set to expand to Ahmadu Bello University, Nnamdi Azikiwe University, and eventually 17 other tertiary institutions nationwide.
Each year, OPay plans to sponsor 400 students across these institutions, investing N120 million annually. Over the next 10 years, this long-term commitment aims to contribute more than N1.2 billion, to significantly amplify OPay’s positive social impact across Nigeria’s academic landscape.
UI Vice Chancellor Prof. Kayode Adebowale, who expressed his enthusiasm for the initiative, said: “We are excited to be pioneers of this project from OPay. This beams a ray of hope to promising youths and helps them focus solely on their academics …
“On behalf of the University of Ibadan, I extend our heartfelt appreciation to OPay for recognizing and rewarding the exceptional talents of our students. This award not only celebrates the achievements of these 20 undergraduate students but also reflects OPay’s commitment to empowering the next generation of leaders.
“Your support underscores the value of investing in education and inspiring excellence, and we are deeply grateful for this impactful partnership…..”
Dotun Adekunle, CTO/COO at OPay, said: “OPay is honored to enter a long-term partnership with the University of Ibadan to support Nigeria’s future leaders over the next 10 years. By providing sustained financial support, we aim to help these students dedicate themselves to their studies and achieve their full potential.”
As a transformative force in Nigeria’s financial ecosystem, OPay is deeply committed to driving positive social impact and fostering development within local communities.
Through these scholarships, OPay will provide essential financial assistance to students distinguished by their academic prowess, innovative thinking, and dedication to community service.
Tijani Rose, a 200 level Computer Science student, said the scholarship will allow her to focus more on her studies.
She said: “This was an unexpected but very welcome opportunity. I feel really excited to have been a beneficiary of this scholarship programme.
“This scholarship will greatly impact my education, by a very large stride. Now, I can take my mind off where the next school fees will come from and can focus on what really matters – my grades and studies.”
Another recipient from the Nursing Department, Toheeb Adeogun Adetayo expressed gratitude to the payment Opay.
He said: “I am feeling so happy right now being a beneficiary of OPay’s scholarship. It was so unexpected; I just received the call that I am one of the beneficiaries…. I am very grateful to Opay”
