The Operating System for Academic Finance.
"Payefy is a financial technology company dedicated to digitizing the cash-heavy economy of Nigerian Universities. Born from the Faculty of Computing at FUOYE, we are the bridge between academic administration and student life."
The genesis of Payefy lies in a specific, high-stakes administrative challenge. In 2026, Majeed Abdulwali, serving as the Faculty Governor of the Faculty of Computing at FUOYE, was tasked with a critical directive by the Faculty President: aggregating General Studies (GST) project fees from the student body for remittance to the GST Administration.
Collaborating closely with the DSA Governor, we orchestrated a logistical framework for collection and verification. Despite our rigorous manual efforts, the reliance on peer-to-peer transfers and screenshot verification revealed a catastrophic systemic vulnerability.
The data told a troubling story: Out of over 750 project submissions, final reconciliation revealed that only approximately 720 payments were authentic. The discrepancy was caused by students submitting digitally manipulated transaction receipts or irrelevant images to bypass payment. This lack of a "Trustless Verification Layer" led to administrative chaos, financial shortfalls, and significant distress for the student leadership.
Payefy was birthed from this crisis. We realized that to eliminate fraud, we needed more than a bank account; we needed a System. A system that organizes data, verifies transactions in real-time, and provides an immutable ledger for students, Excos, and the University management.
We are not external contractors. We are Student-Innovators. Payefy is engineered by the brightest minds within the Faculty of Computing and theNigerian Association of Computing Students (NACOS).
Our team includes the creators of Pulsar CBT (pulsar-cbt.vercel.app), the university's leading exam preparation platform. We are applying that same engineering rigor—high concurrency and zero downtime—to financial payments.
While we started with payment verification, our vision is holistic. Payefy is building the Financial Identity for the African student.
Receipts are generated via cryptographic hash, making forgery impossible.
Automated generation of audit-ready spreadsheets for Faculty Excos.
A digital vault for students to save funds securely towards tuition and projects.
Our legal and support teams are available to address compliance inquiries.