OPay, a prominent financial institution in Nigeria, has entered into a significant Memorandum of Understanding (MoU) with the University of Ibadan to launch a scholarship initiative aimed at supporting academic excellence.

The agreement will provide N300,000 scholarships to 20 outstanding students each year for the next decade.

This partnership underscores OPay's commitment to nurturing future leaders in Nigeria. The MoU signing ceremony took place at the University of Ibadan and was attended by representatives from OPay, university officials, and scholarship recipients.

In addition to the University of Ibadan, OPay plans to extend this scholarship program to Ahmadu Bello University, Nnamdi Azikiwe University, and 17 other institutions across the country.

The initiative aims to sponsor a total of 400 students annually, with an investment of N120 million each year. Over the next ten years, OPay expects to contribute more than N1.2 billion towards enhancing the educational landscape in Nigeria.

Prof. Kayode Adebowale, Vice-Chancellor of the University of Ibadan, expressed enthusiasm for the initiative, stating that it brings hope to promising youths and allows them to concentrate on their studies.

He noted that the awards not only recognize the achievements of the students but also reflect OPay's dedication to empowering future leaders.

Dotun Adekunle, OPay's Chief Technology Officer and Chief Operating Officer, emphasized the company's honor in partnering with the university. He stated that sustained financial support would enable students to focus on their education and reach their full potential.

Scholarship recipient Tijani Rose, a second-year Computer Science student at the university, shared her appreciation for the scholarship, indicating that it would allow her to dedicate more time to her academic pursuits.