Femi Otedola, billionaire businessman and philanthropist, has been inaugurated as the chancellor of Augustine University in Ilara-Epe, Lagos State.
Otedola shared photos from the event on his Instagram page, revealing that he gifted N1 million each to 750 students in the school.
He 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.
"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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