Ibadan, Nigeria – October 30, 2024 – OPay, a leading financial institution in Nigeria, has reaffirmed its commitment to advancing education by signing a landmark Memorandum of Understanding (MOU) with the University of Ibadan. This partnership will award ₦300,000 scholarships to 20 exceptional students annually over the next 10 years, reinforcing OPay’s dedication to fostering academic excellence and empowering the next generation of Nigerian leaders.
The MOU signing ceremony, held at the University of Ibadan, was attended by representatives from OPay, senior staff of the university and some beneficiaries of the scholarship. This event highlighted OPay’s commitment to supporting the education of promising young Nigerians.
Piloting with the University of Ibadan, the scholarship initiative which is an important 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 One Hundred and Twenty Million naira (₦120M) annually. Over the next 10 years, this long-term commitment aims to contribute more than One Billion, Two Hundred Million naira (₦1.2BN), to significantly amplify OPay’s positive social impact across Nigeria’s academic landscape.
During the ceremony, Prof. Kayode Adebowale, Vice-Chancellor at the University of Ibadan, expressed his enthusiasm for the initiative, stating,“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, stated, “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.
According to Tijani Rose, a 200L student of Computer Science at the University of Ibadan, the scholarship will allow her focus more on her studies. In her words, “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 his gratitude to OPay, saying “ 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.”
This event not only formalized the partnership between OPay and the University of Ibadan but also celebrated the remarkable achievements and aspirations of the scholarship recipients. OPay is proud to support these students as they pursue their dreams, reflecting the company’s broader mission to empower individuals and contribute to Nigeria’s progress through education and opportunity.
About OPay
OPay was established in 2018 as a leading financial institution in Nigeria with the mission to make financial services more inclusive through technology. The company offers a wide range of payment services, including money transfer, bill payment, airtime & data purchase, card service, and merchant payments, among others. Renowned for its super-fast experience and reliable network, OPay is licensed by the CBN and insured by the NDIC with the same insurance coverage as commercial banks.
