Business mogul, Femi Otedola, has been appointed the Chancellor of Augustine University, a Catholic University of Lagos Archdiocese.

This was disclosed in a statement issued over the weekend by the university’s spokesman, Nicholas Obayi.

It read: “Augustine University Ilara-Epe is pleased to announce the appointment of Mr Femi Otedola as the second chancellor of the institution. The appointment took effect on April 7, 2022.”

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The statement said Otedola’s appointment was well deserved, having been a consistent benefactor to Augustine University

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“Rather than spend my money on building more houses or buying a jet for myself, I decided to spend the money to support this laudable cause by the Lagos Catholic Archdiocese through the Augustine University,” Otedola said.