• Nigerian billionaire, Femi Otedola loses $400m in 9 weeks – FORBES

    Nigerian billionaire, Femi Otedola loses $400m in 9 weeks – FORBES

    Nigerian billionaire Femi Otedola has lost more than $400 million of his personal fortune over the last 9 weeks as the stock price of Forte Oil, the Nigerian-listed energy behemoth he controls, shed off 43.5% in value within that period.

    In late February the share price of Forte Oil hit an all-time high of N342 per share after the Lagos-based utilities and petroleum marketing company released its impressive 2015 FY results and declared an attractive dividend of N3.45 per share.

    However, as […]