OPay Expands Scholarship Scheme, Signs MoUs With Four Institutions

Fintech firm commits ₦1.2bn to education support over 10 years

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By Anita Babalola | Lagos, Nigeria | May 1, 2026

OPay Signs New MoUs with 4 More Schools, Expands Access to ₦1.2 billion 10-Year Scholarship Programme OPay, a leading fintech company in Nigeria, recently signed Memoranda of Understanding (MoUs) with four additional tertiary institutions in the country: Benue State Polytechnic, Ugbokolo, Benue State; Kogi State, bringing its total partnerships to 24.

Expanded Education Support

Under the terms of the ₦1.2 billion 10-year partnership, OPay will award scholarships valued at ₦300,000 each to 20 students per tertiary institution annually. The scholarship is need-based, designed to support high-performing students from financially disadvantaged backgrounds. Over the duration of the partnership, this commitment is expected to impact hundreds of students.

Commitment to Human Capital Development

“Education is one of the most powerful tools for changing a life, and we believe every student deserves a fair shot at it, irrespective of their background. Through this partnership, OPay is investing in students who have the drive but need the support. We are proud to stand with them and to keep expanding this commitment across more institutions and more communities.”

Growing Institutional Partnerships

Since its launch, the scholarship initiative has continued to grow, showing OPay’s long-term commitment to education and youth empowerment in Nigeria. By adding four more tertiary institutions to the scholarship programme, the brand is intentionally broadening its reach to more states and campuses, ensuring more students have the support they need to succeed.

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Speaking on the MoU signing, Itoro Udo, the Corporate Social Responsibility (CSR) Manager, OPay, said:

OPay remains committed to building a Nigeria where access to financial services and education is consistent and inclusive. By scaling its scholarship initiatives and partnerships, OPay is expanding opportunities for students across the country.

The expansion underscores increasing private sector involvement in addressing educational challenges in Nigeria.