FUNAAB, OPay Sign N60m MoU to Support Students

The Federal University of Agriculture, Abeokuta and OPay Digital Services Limited have signed a N60 million Memorandum of Understanding to support students through scholarships, innovation challenges and talent development.

The MoU was signed on September 24, 2026, in a partnership designed to ease financial pressures while preparing students for the world of work.

According to OPay's Corporate Social Responsibility Manager, Mr Itoro Udo, the partnership will provide 20 FUNAAB students with N300,000 each annually, subject to academic requirements. He said FUNAAB is the 26th institution to join the initiative, which OPay intends to expand to at least 41 tertiary institutions. The MoU covers a 10-year period.

Mr Udo explained that the scheme supports academically promising students facing financial challenges, adding that renewal is not automatic and beneficiaries must maintain strong academic performance.

Beyond scholarships, he said the initiative includes an Innovation Challenge featuring webinars, boot camps and engagements with professionals in fintech and technology to bridge knowledge and employability gaps.

He disclosed that OPay has partnered with Google and other stakeholders, as well as the Federal Government's 3 Million Technical Talent programme, to develop a talent pipeline for internships and job placement.

FUNAAB will have a dedicated quota in subsequent cycles. The University will verify applications and select 20 beneficiaries, from whom five will represent FUNAAB in the Innovation Challenge.

Responding, Vice-Chancellor Prof. Babatunde Kehinde appreciated OPay for extending the opportunity to the University, noting it would complement efforts to support students struggling with charges.

He said although federal universities do not charge tuition, students pay for services including medical and ICT, which can be difficult for some families. He assured that selection would be transparent and merit-based.

He highlighted structures including the Centre for Entrepreneurial Studies and the Career Services and Linkages Unit that could support implementation.

The meeting culminated in signing of the MoU, marking a 10-year partnership.

Present were Deputy Vice-Chancellor, Academic, Prof. Olusegun Idowu; Principal Assistant Registrar, Vice-Chancellor's Office, Mr Adekunle Adebiyi; University Legal Officer, Mrs Olanrewaju Tanimowo; and OPay's CSR Officer, Mr Babatunde Akinloluwa, among others.