Nigerian billionaire businessman, Femi Otedola, has been inaugurated as the Chancellor of Augustine University, Lagos, on Thursday.
The businessman, who made the disclosure via his verified Instagram page, also donated N1m each to 750 students of the University in view of the current harsh economic realities.
He wrote: “Today, I was inaugurated as the Chancellor of Augustine University. I strongly believe in transforming establishments that I am associated with. Therefore, to commemorate my appointment and in recognition of the harsh economic situation in our country, I gave a gift of One Million to each of the Seven Hundred and Fifty Students.
“I hope this donation of Seven Hundred and Fifty Million Naira assists the plight of the parents of our students in this difficult time.”
The university, which was founded in 2015, appointed Otedola as its Chancellor on April 7, 2022.
Meanwhile, speaking on Otedola’s appointment, the institution’s spokesperson, Nicholas Obayi, said the appointment was well deserved owing to Otedola’s untiring philanthropic endeavours.
Recall that in 2019, Otedola donated a faculty complex to the university.
