The University of Calabar has emerged as the latest beneficiary of the OPay N1.2bn 10-year scholarship scheme, thus reaffirming its dedication to education and youth empowerment.

In a statement on Sunday, OPay said that it signed a memorandum of understanding with the university, which is now the eighth beneficiary of the scholarship scheme.

The MOU signing ceremony, held at the University of Calabar, was attended by representatives from OPay, senior staff of the university and some student representatives.

During the ceremony, Vice-Chancellor at the University of Calabar, Prof. Florence Obi, expressed her enthusiasm for the initiative, stating, “OPay’s generosity is deeply appreciated. This scholarship programme is a very welcome initiative. This scholarship programme, in addition to the existing support schemes, will help many of our students and also inspire and encourage them to excel in their academics.”

Head of Partnerships at OPay, Mr IK Odiase, emphasised the significance of education in driving national progress and innovation, saying, “We are honoured to partner with the University of Calabar on this impactful journey over the next 10 years. Education is the cornerstone of nation-building, and we remain committed to ensuring that students across Nigeria have the support they need to succeed.”

Beyond just monetary support for the students, OPay said the initiative represents a beacon of hope for countless families and communities. “As OPay expands this programme to more campuses, it reinforces its conviction that true change begins with access to knowledge. This scholarship scheme stands as clear proof of OPay’s mission to nurture talent and shape a more inclusive and promising future for young Nigerians,” the statement concluded.

OPay, which was established in 2018, 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 Central Bank of Nigeria and insured by the Nigerian Deposit Insurance Company with the same insurance coverage as commercial banks.