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Otedola inaugurated as chancellor of Lagos varsity, gifts students N1m each

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Otedola fumes over Transcorp deal, makes claims against Elumelu 

Nigerian business magnate and philanthropist, Femi Otedola, was inaugurated on Thursday as the chancellor of Augustine University in Ilara-Epe, Lagos State.

The business entrepreneur posted images from the ceremony to his Instagram page, disclosing that he gave N1 million to each of the school’s 750 students.

Otedola wrote, “Today, I was officially 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.

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“I hope this donation of seven hundred and fifty million naira assists the plight of the parents of our students in this difficult time.”

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