News
Otedola inaugurated as varsity chancellor, gifts N1m each to 750 students
Otedola inaugurated as varsity chancellor, gifts N1m each to 750 students
Following his investiture as the Chancellor of Augustine University, Ilara-Epe, Lagos State, Mr Femi Otedola, on Thursday announced a total of one billion naira to support students’ fees and school renovations.
He made the disclosure when he was inaugurated as the chancellor of Augustine University, on Thursday.
Part of the one billion naira was a one million naira scholarship for each student of the university to support in the payment of their fees for the 2023/2024 academic session.
The award will cover all the 500 returning students of the institution and the 250 new intakes for the session.
Also, the business mogul announced a donation of N140 million towards the furnishing of the completed Engineering Faculty he donated to the university, as well as a donation of N110 million for the installation of street lights on the campus.
“As stated in my citation, I strongly believe in transforming establishments that I am associated with. Therefore, to commemorate my appointment as the Chancellor of the university today and in recognition of the harsh economic situation in our country, I hereby announce a scholarship donation to each student of our university the amount of one million naira each towards the 2023/2024 session school fees of each student.
“I am told that there are 500 returning students and about 250 new first year students, making a total scholarship donation of N750 million. I hope this donation assists in ameliorating the plight of parents of our students in this difficult times. I am depending on the Governing Council and the management of the university for the efficient management of these funds,” he said.
He added that the above commitments were apart from the N2 billion Lady Doja Otedola Faculty of Engineering he promised the university a few years ago.
READ ALSO:
-
Panic as gunmen behead another policeman in Aba
-
NCoS recaptures fleeing Katsina inmate
-
Akeredolu rejects deputy’s apology, asks him to take his defence to Ondo Assembly
The first phase of the project, put at over N670 million, was completed and inaugurated for use in February this year.
Otedola gave the assurance that work on the concluding phase of the project would start this December and be completed by December 2024.
Recalling efforts by the Lagos Diocese of the Catholic Church to start the university some years ago, Otedola expressed thanks to God for giving him the opportunity to be part of the dream.
“I feel emotional as I make this speech today as this university was also my late father’s dream. I remember the Fund Raising Committee visiting my late father several times when he was alive and also approaching me in 2008 for help in building the university. What they did not know and indeed no one knew at that time was that I was then bankrupt in Nigeria.
“During the period of economic recession at that time, I lost over N100 billion as our business of importing diesel hit the rocks. I thank God Almighty for changing my fortune and for all that He has provided for me since then. I firmly believe that Almighty God has empowered me to help in the development of this university and to help the multitude of students of this university,” he said.
Otedola stated that he had turned down such appointments in the past but could not do so when approached by the leadership of the Catholic Church in Lagos.
The Pro-Chancellor, Chief Gilbert Grant, described the Otedola Family as one of the backbones of the university.
He charged the graduating students to be good ambassadors of the institution and to put to use all the virtues inculcated in them while studying at the university.
The Vice Chancellor, AUI, Prof. Christopher Odetunde, in his address lauded Otedola for the support he had given to the university since inception.
Odetunde disclosed that following the approval by the National Universities Commission, NUC, AUI would start postgraduate programmes in some courses as from next session.
The Visitor to the university, Most Revd. Dr Alfred Adewale Martins, said the university was set up to build youths who are spiritually, morally and educationally prepared to proffer solutions to societal challenges.
The convocation lecture titled ” The law, the youth, morality and contemporary Nigerians society,” was delivered by Chief Mike Ozekhome, SAN, represented by his son, Mike Ozekhome (Junior).
Otedola inaugurated as varsity chancellor, gifts N1m each to 750 students
News
Yahaya Bello govt spending third term in office through Ododo – Clark
Yahaya Bello govt spending third term in office through Ododo – Clark
Elder statesman, Chief Edwin Clark, says the former Kogi State Governor, Yahaya Bello, administration was nothing to write home about.
This is even as he asked the embattled former governor to surrender himself to the authorities.
Bello has been in the news for days on end over money laundering and financial impropriety.
He was declared wanted after he evaded the economic and financial crimes commission (EFCC) who had stormed his Abuja residence to apprehend him.
Speaking on Bello’s time as the governor of the middle belt state, Clark, who is the leader of the Pan Niger Delta Forum, PANDEF, stated that state sponsored violence, corruption, civilian repression and political killings were rife when Bello was in office.
READ ALSO:
- IPOB declares sit-at-home May 30 to honour Biafra heroes
- ‘Unfounded accusation’ – Obi slams Umahi over instigation of Igbo against Tinubu claim
- Court sends tenant to prison for setting landlord’s house on fire
Clark also pointed out that Bello is still running the show in Kogi state as he is currently spending third term in power through the incumbent governor, Ododo, who he planted in office.
“Yahaya Bello is just being stubborn. He has been living very very rough…having a very rough government, corruption, killing of people in the place during elections and so on,” Clark said during an interview on Arise TV on Thursday.
“There’s time for everything and it has come for him to answer questions. He should go to court. He should go to court to answer the substance of the case, where did he get the money from?
“Is it true or not that the money he paid to the American school belongs to him or belongs to the government of Kogi State?
“The behaviour of the new Governor shows Yahaya Bello is in power for the third time. Ahmed Ododo is just running after him.
“I just want to plead with Ododo to do the needful so that the youth in this country will have something to fall upon.”
Yahaya Bello govt spending third term in office through Ododo – Clark
News
‘Unfounded accusation’ – Obi slams Umahi over instigation of Igbo against Tinubu claim
‘Unfounded accusation’ – Obi slams Umahi over instigation of Igbo against Tinubu claim
Labour Party presidential candidate in the 2023 general elections, Peter Obi, says he is not in the business of whipping up ethnic sentiments or amplifying Nigeria’s fault lines to gain socio-political mileage.
Obi said this reaction to comment made by the Minister of Works, David Umahi, at an event on Wednesday on the Lagos-Calabar road project.
Obi has been vocal in his criticism of the road project, calling it a misplaced priority as it is not what Nigeria needs at a time of lean resources and plethora of challenges begging for drastic solution.
Umahi while speaking at the event said Obi’s position on the Lagos-Calabar coastal road project amounted to pitting Nigerians of Eastern extraction, who are majorly Igbos, against the government of President Bola Tinubu.
He also accused Obi of demolishing property without compensating those affected when he was Anambra governor, Obi was inciting South Easterners against the government
“When His Excellency Peter Obi was the governor. He made a statement saying, “Any infrastructure that stands in the way of the road must go. And there would be no compensation paid.” That’s what he said,” Umahi said.
READ ALSO:
- Court sends tenant to prison for setting landlord’s house on fire
- Alleged mastermind of Abuja-Kaduna train attack, Moniker Mandi, arrested
- Woman kills three children over cheating husband
“And I think he’s inciting some of the South-East people that are not well informed. He is inciting them. And gets them into trouble,” he added
Reacting to Umahi’s allegation of divisiveness and sedition in a statement on Wednesday, Obi opined that he is a preacher of peace and advocate of unity who always wants what is best for the country.
Obi, who described criticisms that he is inciting Igbo against Tinubu’s government as baseless, stated that he won’t wallow in the murky water of divisive ethnic politics like many of his contemporaries and opponents do.
He stated, “My focus is on fostering constructive dialogue and inclusivity, rather than engaging in divisive politics, Claims of incitement are baseless distractions. I have always advocated unity and advancement, refusing to partake in reactionary divisive politics.
“I refuse to be reduced to the level of those who wallow in ethnic politics. Worse still, I have never and can never descend so low as to base my political aspirations on any sectional or ethnic interest.”
The former Anambra governor also said there were no comparisons between the demolition he did when he was governor and what the Tinubu-led government was currently doing.
‘Unfounded accusation’ – Obi slams Umahi over instigation of Igbo against Tinubu claim
News
NDIC jacks up deposit insurance cover from N500,000 to N5m
NDIC jacks up deposit insurance cover from N500,000 to N5m
The Nigeria Deposit Insurance Corporation (NDIC) has announced a significant increase in the maximum deposit insurance coverage levels for Deposit Money Banks (DMBs) and other financial institutions, effective immediately.
During a press conference in Abuja on Thursday, NDIC Managing Director Bello Hassan disclosed, “For Deposit Money Banks, the increase of the maximum deposit insurance coverage from N500,000 to N5,000,000, would provide full coverage of 98.98% of the total depositors compared with the current cover of 89.20%. In terms of the value of deposit covered, the revised coverage would increase the value of deposits covered by deposit insurance to 25.37% compared with the current cover of 6.31% of the total value of deposits.”
READ ALSO:
- Hoodlums set Lagos market on fire during bloody clash
- Man shot dead during fuel queue in Lagos
- UniAbuja: ASUU declares indefinite strike over disagreement with varsity management
Hassan further explained, “The increase of the maximum deposit insurance coverage for primary mortgage banks from N500,000 to N2,000,000 would provide full coverage of 99.99% of the total number of depositors and would increase the value of deposits covered by deposit insurance to 43.10% of the total value deposits from the current cover of 40.60%.”
Additionally, Hassan noted, “The increase of the maximum deposit insurance coverage for subscribers of Mobile Money Operators from N500,000 to N5,000,000 per subscriber.”
NDIC jacks up deposit insurance cover from N500,000 to N5m
Bandits kill nine civilian JTF members, kidnap three in Sokoto
Yahaya Bello govt spending third term in office through Ododo – Clark
IPOB declares sit-at-home May 30 to honour Biafra heroes
-
metro2 days agoLabour Day: Nigerian workers are dedicated, resilient, says NURTW leader
-
Auto1 day agoAppeal court takes over NURTW case as NIC withdraws
-
News2 days agoFG approves salary increase for civil servants, military, police
-
International2 days agoBinance founder bags jail term in US
-
metro3 days agoWoman arrested in Ogun after husband commits suicide
-
News2 days agoFG set to repatriate 20,000 Nigerians from Chad, Cameroon
-
metro12 hours agoSecurity forces, vigilantes arrest kidnapper terrorising communities in Kogi
-
News2 days agoAmid fuel scarcity, petrol marketers threaten to withdraw services over ₦200bn debt