OPay Adds University of Calabar to ₦1.2 Billion Scholarship Scheme Beneficiaries
By Nigeria Time News Editorial Team
CALABAR, Nigeria — June 19, 2025 — In a powerful demonstration of its commitment to education and youth development, leading Nigerian fintech company OPay has announced the inclusion of the University of Calabar (UNICAL) as the latest beneficiary of its groundbreaking ₦1.2 billion, 10-year scholarship initiative.
The official Memorandum of Understanding (MoU) signing ceremony was held at the UNICAL campus, marking the university as the eighth institution to join the long-term corporate social responsibility program aimed at empowering promising Nigerian students through financial support and academic encouragement.
Institutional Leaders Applaud OPay’s Educational Commitment
Prof. Florence Obi, Vice-Chancellor of UNICAL, praised the initiative during the event, describing it as a “very welcome intervention” that would ease the burden of tuition and inspire academic excellence among students.
“OPay’s generosity is deeply appreciated. This scholarship programme will help many of our students and encourage them to excel. It’s not just financial relief — it’s motivation,” Prof. Obi stated.
The event was attended by senior university officials and OPay executives including:
- Peter Okafor – DVC, Research, Linkages & Collaborations (UNICAL)
- Mrs. Rhenua Adebo – Marketing Manager (OPay)
- Itoro Udo – CSR Manager (OPay)
- IK Odiase – Head of Partnerships (OPay)
- Prof. Tony Eyang – DVC, Academic (UNICAL)
- Dr. Chukwuka Icha – Registrar (UNICAL)
- Dr. Grace Enota – DVC, Administration (UNICAL)
OPay: Education Is Nation-Building
In his remarks, IK Odiase, Head of Partnerships at OPay, emphasized the importance of education as a driver of sustainable national progress.
“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,” Odiase said.
The partnership with UNICAL builds upon OPay’s scholarship rollout in seven other Nigerian universities, reflecting the fintech company’s deliberate and strategic focus on advancing access to quality education nationwide.
Beyond Scholarships: A Beacon of Hope for Families and Communities
More than just financial aid, the scholarship scheme represents hope for thousands of students and their families. The initiative is designed to help ease the financial pressures associated with tertiary education, especially in regions where many students struggle to afford tuition and learning materials.
As OPay expands the program to additional institutions, its mission to bridge the opportunity gap through technology and financial inclusion remains central to its operational strategy.
OPay’s Legacy of Empowerment Through Technology
Founded in 2018, OPay has grown to become one of Nigeria’s most prominent financial technology platforms. It provides a wide range of digital services including:
- Money transfer
- Bill payment
- Airtime and data purchase
- Debit card services
- Merchant and agent payment solutions
The company’s mission focuses on democratizing financial access and empowering underserved populations, particularly young Nigerians. This scholarship initiative complements OPay’s broader agenda of building a more inclusive digital economy.
Conclusion: A Future Built on Knowledge
OPay’s strategic investment in education reinforces the belief that lasting national development is rooted in knowledge. The Calabar scholarship announcement stands as a testament to how private-sector innovation can align with public good to nurture talent and ignite economic transformation.
With its ₦1.2 billion commitment set to span a decade, OPay is not only investing in students but also in Nigeria’s future leaders, innovators, and changemakers.