NEWS

Femi Otedola loses 1.3billion in Wealth. Now worth $550m from $1.8billion in March this year

Recession in high places! Nigerian billionaire businessman Femi Otedola is no longer a billionaire in dollars. According to Forbes, he's now worth $550million following a massive drop in the stock price of his company, Forte Oil. Read the report from Forbes below... As at the close of trading on Friday October 14th, Forte Oil’s share price plunged to a one-year low of N145 ($0.44) per share, down from an all-time high of N342 ($1.1) in March this year when Forbes published its annual ranking of the world’s richest people. (more…)

NEWS

Emirates & Kenya Airways to Suspend Flight Operations to Abuja

KenyaEmirates, one of the biggest foreign airlines operating in Nigeria, has said it is stopping flight operations to the Nnamdi Azikiwe International Airport, Abuja with effect from October 30, 2016. The decision is due to foreign exchange hurdles, low patronage, and other operational issues, which have reduced the profitability of flying on the route. (more…)