OPay Digital Services has signed a Memorandum of Understanding (MoU) with the University of Maiduguri (UNIMAID) as part of its ₦1.2 billion, 10-year nationwide scholarship initiative. As part of the partnership, the company presented a ₦60 million cheque to provide annual financial aid to selected students, while also creating opportunities for broader collaboration in innovation, cybersecurity, and youth empowerment.
In his remark, the Vice Chancellor of the University of Maiduguri, Professor Mohammed Laminu Mele, represented by the Provost of Postgraduate Studies, Professor Yakubu Mukhtar, applauded the initiative and described it as a milestone for the institution.
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“We are delighted to welcome OPay to the University of Maiduguri for this historic occasion. Opay is no doubt, one of the most important digital financial institutions in the country, and it is indeed gratifying to witness a socially responsible organisations like Opay in the future of our students and demonstrating genuine commitment to educational development,” he said.
He also stressed the importance of the collaboration in light of UNIMAID’s size and influence. “Believe me, UNIMAID is one of the largest tertiary institutions in this country in terms of the number of students as well as staff. So, you have a lot of clients and customers who patronize OPay”, he added.
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Speaking on behalf of OPay, Itoro Udo, Head of CSR, provided context on the initiative, describing it as a long-term investment in education and youth empowerment.
“The OPay 10-year scholarship initiative was started last year as part of our mandate to give back to the communities where we do business. We see education as a stronghold and foundation in Nigeria, and we want to support students in bridging the gap left by the withdrawal of federal subsidies in the sector,” He said.
Mr Udo explained that the program will award ₦300,000 annually to 20 students in each of 20 selected tertiary institutions, representing ₦6 million per institution per year and a total investment of ₦1.2 billion over the next decade.
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“While the scholarship scheme is significant, the scholarship is only an entry point, and a gateway into other initiatives we seek to collaborate on with the institution,” he emphasised.
Beyond scholarships, the CSR Head said OPay is prioritizing innovation and cybersecurity to help universities prepare students for the digital future.
“Because we are a digital bank and cybersecurity is the backbone of what we do, we also want to empower higher institutions to build reliable and strong cybersecurity departments that will, in the long run, give birth to other fintechs that will continue to make the country proud,” he explained.
He added that in October this year, OPay will present its first CSR Annual Report, bringing partner institutions together in Lagos to formally unveil the Cybersecurity Lab Project, noting that the company has also begun piloting a Graduate Employment Scheme at the University of Ibadan and Obafemi Awolowo University Ife, with plans to expand to more institutions.
“Like I said, the scholarship is just the entry point. There are other things that we will keep introducing to ensure our partner institutions and their students continue to benefit in meaningful ways,” Mr Udo concluded.
The highlight of the event was the presentation of a ₦60 million scholarship cheque to the University of Maiduguri management, representing OPay’s immediate investment in the partnership
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