• Forbes removes Otedola’s name from billionaires’ list

    Forbes removes Otedola’s name from billionaires’ list

    World billionaires ranking outfit, Forbes, has removed the names of Nigeria’s Femi Otedola from its list of African billionaires.

    With a fortune now pegged at $550 million, Otedola, Chairman of Forte Oil Plc, has fallen out of the ranking of Africa’s billionaires.

    The oil tycoon’s fortune million plunged from $1.8 billion following a massive drop in the stock price of his petroleum marketing company.

    As at the close of trading on Friday, the company’s share price plunged to a one-year low of N145 […]