Billionaire Femi Otedola loses $400million in 9 weeks – Forbes report
Article below written by Forbes contributor Mfonobong Nsehe for Forbes magazine... 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. (more&hel
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