OPay, a prominent financial institution in Nigeria, has reaffirmed its dedication to enhancing education by entering into a significant Memorandum of Understanding (MOU) with the University of Ibadan.

This collaboration will provide ₦300,000 scholarships to 20 outstanding students each year for the next decade, underscoring OPay’s commitment to promoting academic excellence and empowering future leaders in Nigeria.

The MOU signing ceremony took place at the University of Ibadan, with representatives from OPay, university officials, and some scholarship recipients in attendance.

This occasion showcased OPay’s resolve to support the educational aspirations of talented young Nigerians.

Beginning with the University of Ibadan, this scholarship initiative, which forms a crucial part of OPay's corporate social responsibility efforts, is set to extend to Ahmadu Bello University, Nnamdi Azikiwe University, and eventually 17 additional tertiary institutions across the country.

Each year, OPay intends to sponsor 400 students at these institutions, committing a total of One Hundred and Twenty Million naira (₦120M) annually. Over the next decade, this long-term initiative aims to contribute more than One Billion, Two Hundred Million naira (₦1.2BN), significantly enhancing OPay’s positive social impact within Nigeria’s educational sector.

Prof. Kayode Adebowale, Vice-Chancellor of the University of Ibadan, conveyed his enthusiasm for the initiative during the ceremony, remarking, "We are thrilled to be at the forefront of this project from OPay. It offers a beacon of hope to aspiring youth and allows them to concentrate entirely on their studies.

“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 pivotal player in Nigeria's financial landscape, OPay is dedicated to creating a positive social impact and promoting development within local communities. Through its scholarship program, OPay aims to offer crucial financial support to students recognized for their academic excellence, innovative ideas, and commitment to community service.

Some student beneficiaries with representatives from OPay at the University of Ibadan earlier in the week.

University of Ibadan’s Vice-Chancellor with some academic staff and representatives from OPay
Tijani Rose, a second-year Computer Science student at the University of Ibadan, shared that the scholarship will enable her to concentrate more on her academic pursuits. She stated, “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 scholarship recipient, Toheeb Adeogun Adetayo from the Nursing Department, expressed his appreciation 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 solidified the collaboration between OPay and the University of Ibadan but also honored the outstanding achievements and ambitions of the scholarship recipients. OPay takes pride in supporting these students as they strive to realize their dreams, embodying the company's broader mission to empower individuals and contribute to Nigeria's advancement through education and opportunity.