Korapay Limited, a leading financial technology company, recently announced a significant commitment to help indigent students at Covenant University manage their tuition fees.
In a meeting with the university’s management, Korapay, represented by its Chief Executive Officer, Mr. Dickson Nsofor, and Chief Operating Officer, Dr. Stephen Oluwatobi, committed to a N200 million endowment fund over the next ten years. This partnership aims to alleviate the financial struggles of students, empowering them to continue their education and fulfill their potential.
During the announcement at the Vice Chancellor’s office, Mr. Nsofor, an alumnus of Covenant University, expressed deep gratitude for the university’s profound impact on his journey and emphasised his desire to give back to the institution. Reflecting on the university’s guidance, he stated, It is foolishness to be ashamed of what is gainful. Mr. Nsofor, visibly moved by memories of his time as a student, also mentioned his eagerness to attend the university’s upcoming convocation event.
Dr. Oluwatobi, also a Covenant University graduate, elaborated on the inspiration behind this endowment, which arose from discussions about honouring Chancellor Dr. David Oyedepo’s upcoming 70th birthday. This contribution is our way of showing gratitude for the support we received. It is a call to other alumni to contribute as well, Dr. Oluwatobi remarked, acknowledging how the university’s inspiring leadership had shaped their lives and careers.
In response, the Vice Chancellor, Professor Abiodun H. Adebayo, praised Korapays initiative as a landmark moment for alumni contributions, likening it to the philanthropic spirit commonly observed at prestigious institutions worldwide. This endowment is a dream come true, an opportunity for Covenant Eagles to give back and support those who may otherwise be unable to continue their education, he said. Professor Adebayo also pointed out the unfortunate delay some students experience due to financial constraints, emphasising that this endowment would provide much-needed relief. Drawing a parallel with the Oprah Winfrey Scholars success in rallying support for future students, he called on other Covenant alumni to follow Korapay’s example.
The Vice-Chancellor further highlighted the benefits of such partnerships in research funding and endowed professorships, noting that they not only strengthen academic foundations but also directly uplift those most in need. Professor Adebayo thanked God for the timing of the initiative, calling it an affirmation of Chancellor Oyedepo’s vision for Africa’s educational empowerment.
The meeting was attended by several key officials, including the Deputy Vice-Chancellor, Professor Olujide Adekeye; Registrar, Mrs. Regina Tobi David; and Dean of Students Affairs, Mrs. Shola Coke. Together, they celebrated the impact this endowment will have on Covenant University students and applauded Korapay’s leadership in supporting the institution’s mission to create self-reliant, innovative graduates.
