OPay has expanded its ₦1.2 billion scholarship programme to four additional tertiary institutions, deepening its investment in education and youth empowerment across Nigeria.
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The fintech firm recently signed Memoranda of Understanding (MoUs) with Benue State Polytechnic, Ugbokolo; Kogi State Polytechnic, Lokoja; Montgomery Polytechnic, Ikere Ekiti; and Alex Ekwueme Federal University, Ndufu Alike Ikwo. With this development, the number of partner institutions under the programme rises to 24 nationwide.
The expansion aligns with OPay’s broader commitment to supporting academic excellence and providing opportunities for students from underserved backgrounds. The scholarship scheme, structured as a 10-year initiative valued at ₦1.2 billion, is designed to ease financial barriers while encouraging high academic performance.
Under the arrangement, OPay will award scholarships worth ₦300,000 each to 20 students per participating institution annually. The initiative is strictly need-based, targeting students who demonstrate strong academic potential but face financial constraints. Over the lifespan of the programme, hundreds of students are expected to benefit from sustained financial support.
Since its introduction, the scholarship initiative has continued to scale, reflecting a deliberate strategy by the company to widen access across multiple states and campuses. By onboarding four additional institutions, OPay is extending its reach and reinforcing its long-term focus on inclusive education.
Speaking on the MoU signing, Itoro Udo, Corporate Social Responsibility (CSR) Manager at OPay, emphasised the company’s commitment to equitable access to education.
“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,” Udo said.
The company maintains that its scholarship programme forms part of a broader vision to build a more inclusive Nigeria, where access to both financial services and education is not limited by socio-economic status.
Founded in 2018, OPay operates as a fintech platform offering services including money transfers, bill payments, card services, airtime and data purchases, and merchant solutions. Licensed by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC), the company continues to position itself at the intersection of financial inclusion and social impact.
