OPM suspends overseas scholarships over forex crisis

OPM suspends overseas scholarships over forex crisis

Chibuzor Chinyere

Founder and General Overseer of Omega Power Ministries, Worldwide, Chibuzor Chinyere

The General Overseer of the Omega Power Ministry, Apostle Chinyere Chibuzor, has announced the immediate suspension of all overseas scholarships sponsored by his organisation due to the continued depreciation of the naira.

Chibuzor disclosed this in a post on his official Facebook page on Wednesday, with a featured image titled ‘I’m sorry.’

According to him, until there is a significant improvement with regard to the valuation of the naira, the ministry would discontinue its scholarship programme at the University of Benin Republic after the current session, while the Nigerian Universities scholarship would continue.

He said, “All overseas scholarship is hereby suspended. We shall continue to pay the school fees, accommodation, and the OPM free restaurant in Benin Republic till graduation.

“But we would not be adding anymore new students for now until CFA exchange to Naira improves, but only Nigerian university scholarship will continue for now until the dollar and CFA improves.”

The cleric, who apologised to all those affected by the decision, called on Nigerians to pray to God to intervene and make the Naira strong again.

He continued, “I am seriously sorry for the inconvenience, we all need to pray for Nigeria for GOD (to) make our Naira strong so overseas scholarship can start again. There is nothing too hard for GOD to do if only we put our trust in him.”

The decision by the church to suspend overseas scholarships follows the rapid depreciation of the Nigerian naira in recent weeks.

The PUNCH reports that the naira had maintained its downward trend as scarcity of the dollar bites harder, depreciating to N1,190/$ as of Monday.

A Nigerian student based in Cotonou, Ayokunnumi Onifade, told our correspondent that N1000 was exchanged for 500 CFA as of Tuesday.

She said, “I can’t change money without having a heart attack so I decided to stop and starve. I’m in severe pain.”

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