The billionaire entrepreneur has shown once again that wealth is not the accumulation of money but a gift for the purpose of salvaging humanity.
Femi Otedola has donated N5 billion to Save the Children, which is arguably the largest individual donation to charity in Nigeria’s history. Save the Children is a 100-year United Kingdom-based charity, to support its intervention in the north-east.
“My father, Mr. Femi Otedola, has been at the forefront of supporting worthy causes,” her daughter, Florence Otedola (DJ Cuppy) stated.
“It is in this spirit that he will be donating the sum of N5bn to the children of Borno, Adamawa and Katsina through the Save the Children.”
The event was organized by the Cuppy Foundation to raise funds for Save the Children, which is the biggest children-focused organization in the world after UNICEF.
Cuppy Foundation is the non-profit organization founded by his daughter. She is also a board ambassador for Save the Children and a member of the organization’s Africa advisory board.
Responding to Otedola’s donation, Kevin Watkins, chief executive officer of the charity, pledged that every penny out of it would be spent improving the lives of the children affected by insurgency in the north-east.
Earlier, Aliko Dangote, Africa’s richest man, announced a donation of N100 million.
Dangote said many people find it difficult to give without knowing that “the more you give, the more blessed you become”.
Vice-President Yemi Osinbajo; Adams Oshiomhole, national chairman of the All Progressives Congress (APC); Bukola Saraki, former senate president; Babagana Kingibe, former secretary to the government of the federation; and Bola Shagaya, billionaire businesswoman, were among those at the event.
The governors present were Babajide Sanwo-Olu (Lagos), Babagana Zulum (Borno), and Dapo Abiodun (Ogun).
Otedola, a well-regarded philanthropist, has in the past donated to good causes.
In 2005, he instituted a N200 million scholarship for Lagos state undergraduates, same year he donated N300 million for the completion of the National Ecumenical Centre in Abuja.
He, at various times, donated N100 million to the Lagos State College of Primary Education, N100 million to the Central Mosque, Ilorin (Kwara State), and N100 million to the University of Port Harcourt, Rivers state.
He has committed to building and donating a faculty of engineering valued at N2 billion to the Augustine University in his hometown, Epe, Lagos state.
He recently footed the medical bills of Christian Chukwu, former captain and coach of Super Eagles; Peter Fregene, former international goalkeeper; Majek Fashek, celebrated Reggae artiste; as well as Sadiq Daba and Victor Olaotan, veteran actors.
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