The businessman, who shared this information through his official Instagram page, additionally donated N1 million to each of the 750 students at the University, acknowledging the prevailing challenging economic conditions.
“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.”
Otedola, who is also a significant shareholder in FBN Holdings, was appointed as the university’s chancellor on April 7, 2022.
Nicholas Obayi, the spokesperson for the institution, expressed that Otedola’s appointment is well-deserved, given his consistent philanthropic efforts.
In 2019, Otedola demonstrated his commitment to the university by donating a faculty complex.
Augustine University, established on October 23, 2015, continues to benefit from Otedola’s dedication to its development.
Kanyi Daily recalls that Femi Otedola had responded to a young man who claimed to be his son from a past relationship.
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