In a move to strengthen its commitment to youth development and inclusive education, OPay Digital Services Limited has signed a Memorandum of Understanding (MoU) with Olabisi Onabanjo University (OOU), Ago Iwoye, Ogun State, to provide annual scholarships of ₦300,000 each to 20 indigent students of the institution.
The official signing ceremony, held on Friday at the university’s Senate building, marked a significant milestone in OPay’s decade-long educational support initiative targeting 20 Nigerian universities. Speaking at the event, OPay’s Chief Public Affairs Officer, Justin Zhang, shared that the fintech company launched the scholarship programme in 2023 as a way to give back to society, particularly to the younger generation that forms the backbone of its customer base.
Zhang, who has lived in Nigeria for 13 years, recounted the educational struggles faced by many Nigerian students, especially those forced to pause their studies to raise funds. “Some brilliant young Nigerians lose critical academic years due to financial hardship. If they had the necessary support, they could complete their education by 23 or 24 and contribute meaningfully to society,” he said.
The scholarship, which began with the University of Ibadan and Ahmadu Bello University, Zaria, has now expanded to include OOU and 17 other universities, making it a 20-institution initiative. Each university receives 20 scholarship slots annually, with OPay committing ₦120 million every year for 10 years to sustain the programme.
Beyond tertiary education support, OPay has also donated educational materials such as books and school supplies to various secondary schools. In addition, the company is set to empower 100 women through vocational training and startup support, as part of its broader goal to strengthen communities through education and entrepreneurship.
Vice Chancellor of OOU, Professor Ayodeji Agboola, praised OPay for its investment in young Nigerians. He highlighted that the initiative aligns with the university’s focus on “Education, Employability, and Entrepreneurship,” and urged OPay to consider supporting the university’s innovation and technology hub.
“Our students are brimming with brilliant ideas, but most lack the funding to scale them up. We hope OPay can support us further through research fairs and entrepreneurial boot camps that give our students the opportunity to present their innovations to the world,” Agboola said.
The Students’ Union President, Muizz Olatunji, also expressed deep appreciation to OPay, noting that the scholarship would relieve the financial burden of many students who struggle to meet basic academic costs.
He added that the student body looks forward to more corporate partnerships that extend beyond tuition support, including skills development and business incubation, which can contribute to long-term economic growth for the nation.
With this partnership, OPay reinforces its position as a socially responsible fintech institution dedicated to improving access to education, promoting financial inclusion, and fostering innovation across Nigeria’s academic and youth communities.
