Sir Emeka Offor, a philanthropist and patron of the Sports Writers Association of Nigeria (SWAN), Abuja chapter, has donated N100m endowment fund for the development of the University of Nigeria Nsukka (UNN).
Offor, who is the executive chairman of Chrome Group of Companies, made the disclosure at the weekend during a post convocation dinner and reception in his honour and his wife, Mrs. Adaora Offor in Abuja.
The business mogul and his wife, Mrs Adaora Offor were awarded the degree of Doctor of Business Administration (Honoris Causa) and Doctor of Social Advocacy (Honoris Causa) during the 52nd Convocation of UNN.
The SWAN Patron said the ₦100,000,000 is a restricted endowment where the principal sum shall be held in perpetuity except otherwise decided by SEOF and the University of Nigeria, Nsukka while the earnings from the invested assets are expended as per the donor’s specifications i.e.funding of research and scholarly enterprise in the Faculty of Business Administration.
He added that the principal sum shall be maintained in a high-yielding but legitimate investment platform wherein SEOF and UNN shall nominate the signatories.
He said that his Foundation, Sir Emeka Offor Foundation (SEOF), had been in the fore-front of educational, health and youth empowerment, adding that UNN had been a great beneficiary of his Foundation with Books for Africa to the tune of multi-million worth of books in various disciplines.
According to him, in 2010, the Foundation endowed a professorial chair worth N20 million in the UNN, adding that it had been quite a time a comprehensive report had been sent across on the endowed chair.
“Endowments are an integral part of the University system and academia. This gesture, therefore, is our desire towards supporting higher education in Nigeria and strengthening the bond of friendship between the Sir Emeka Offor Foundation and the University of Nigeria Nsukka. We now have the honour and privilege of presenting the Bank Draft of One Hundred Million Naira (₦100,000,000) only to the University of Nigeria, Nsukka, Offor remarked.
