Korapay Limited, a company founded by Covenant University alumnus, Mr. Dickson Nsofor, has announced a significant initiative to assist indigent students struggling to pay their tuition. This was made known during a recent meeting with Covenant University Management, where the company announced a commitment of N200 million as an endowment over the next decade, with plans for future reviews.
The delegation, led by the Chief Executive Officer, Korapay, Mr. Dickson Nsofor, accompanied by the Chief Operating Officer of the Company, who is also a Covenant University Alumnus, Dr. Stephen Oluwatobi, shared the exciting news in a meeting at the Vice-Chancellor's office.
Speaking at the event, Mr. Nsofor, expressed gratitude for the sacrifices made by the University management, faculty, and staff, emphasizing their desire to acknowledge these efforts through the support initiative. He re-echoed the Chancellor's wisdom: "It is foolishness to be ashamed of what is gainful."
"I miss my time here and look forward to attending the Special Chapel Service marking the 19th convocation," he added, reflecting on the profound impact the university has had on their lives.
In his remarks, Dr. Oluwatobi, emphasized the importance of the Alumni giving back to the University, highlighting the invaluable support they received from faculty and the inspiring motivational talks from the Chancellor, Dr. David Oyedepo, and the Pro-Chancellor, Bishop David Abioye.
He noted that the decision to support students arose from a conversation about honoring the Chancellor's upcoming 70th birthday. "We wanted to contribute meaningfully and decided to help students facing financial challenges. We hope this initiative inspires other alumni to follow suit," Dr. Oluwatobi stated.
The Vice-Chancellor, Professor Abiodun H. Adebayo, expressed his excitement over the partnership, highlighting it as a milestone for alumni contributions. "This is what I've been looking forward to, Covenant Eagles giving back to their alma mater, akin to practices at Ivy League institutions. Life is about giving, and this gesture from Korapay exemplifies that spirit," he remarked.
Professor Adebayo noted that many students have delayed their return due to financial constraints, and this endowment would bring smiles to those students as they rejoin campus life. He urged other alumni to consider similar contributions, drawing parallels to Oprah Winfrey's beneficiaries who came together to honor her legacy of scholarship support.
Additionally, he called for enhanced collaborations in research funding and chair endowments for further knowledge acquisition, ultimately benefiting those in need. He expressed gratitude for the active alumni base and thanked God for the timing of this initiative, celebrating the vision of the Chancellor, Dr. David Oyedepo, to uplift Africa.
The meeting was also attended by key University officials, such as Deputy Vice-Chancellor, Professor Olujide Adekeye; the Registrar, Mrs. Regina Tobi-David, and the Dean of Students’ Affairs, Mrs. Shola Coker.