Femi Otedola, the chairman of Geregu Power Plc and director of FBN holdings Plc, was inaugurated as the chancellor of Augustine University, on Thursday.
The businessman made the announcement on X, formerly Twitter.
In the statement shared on the social media platform, Otedola said he gave a gift of N1 million to each of the 750 students of the university.
“Today, I was inaugurated as the Chancellor of Augustine University. I strongly believe in transforming establishments that I am associated with,” he said.
“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 substantial shareholder in FBN Holdings, was appointed as the chancellor of the university on April 7, 2022.
Speaking on his appointment, Nicholas Obayi, the institution’s spokesperson, said the appointment is well deserved owing to Otedola’s untiring philanthropic endeavours.
In 2019, Otedola donated a faculty complex to the university.
The university was founded on October 23, 2015
Below are photos from the graduation.
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