{"id":8144,"date":"2025-08-07T12:42:05","date_gmt":"2025-08-07T12:42:05","guid":{"rendered":"https:\/\/beadysword.com.ng\/blog\/?p=8144"},"modified":"2025-08-07T12:42:12","modified_gmt":"2025-08-07T12:42:12","slug":"otedola-banks-sent-bewitching-ladies-to-woo-me-for-business","status":"publish","type":"post","link":"https:\/\/beadysword.com.ng\/blog\/2025\/08\/07\/otedola-banks-sent-bewitching-ladies-to-woo-me-for-business\/","title":{"rendered":"Otedola: Banks sent \u2018bewitching ladies\u2019 to woo me for business"},"content":{"rendered":"<section>\n<section id=\"div-gpt-ad-1749565763847-0-0\" data-slot-name=\"\/53159133\/PulseNG_DT_Floater\" data-slot-size=\"[[1,1]]\"><\/section>\n<\/section>\n<section class=\"ad-wrapper desktop under-header\">\n<section class=\"ad-wrapper--empty\"><\/section>\n<\/section>\n<section>\n<section class=\"ArticleBody_content__7ue6M\">\n<div class=\"article-body--breadcrumb\">\n<nav class=\"Breadcrumb_wrapper__z9LKY\" aria-label=\"breadcrumbs\">\n<section class=\"Breadcrumb_content__dnFAl\">\n<section>\n<section>\n<section id=\"div-gpt-ad-1749565763847-0-0\" data-slot-name=\"\/53159133\/PulseNG_DT_Floater\" data-slot-size=\"[[1,1]]\" data-google-query-id=\"CI36zbPb-I4DFSuIgwcdeK8SYw\">\n<div id=\"google_ads_iframe_\/53159133\/PulseNG_DT_Floater_0__container__\"><\/div>\n<\/section>\n<\/section>\n<section>\n<section class=\"ArticleBody_content__7ue6M\" data-url-vdo-content=\"\/articles\/lifestyle\/otedola-banks-sent-bewitching-ladies-to-woo-me-for-business-2025080515544597796\">\n<article class=\"Article_wrapper__P_zM6\">\n<section class=\"Article_subtitle__Ocmla\"><span class=\"BodyText_body--large__aSTYj\">His memoir promises a deep dive into the trials and triumphs that shaped one of Nigeria\u2019s most prominent business careers.<\/span><\/section>\n<\/article>\n<\/section>\n<\/section>\n<\/section>\n<section><\/section>\n<section class=\"Breadcrumb_section__jkF0V\">\u00a0Femi Otedola has opened up about the staggering scale of his financial setbacks amid the global oil downturn and Nigeria\u2019s economic challenges. His upcoming memoir, <em>Making It Big: Lessons from a Life in Business<\/em>, scheduled for release on August 18, 2025, by FO Books, promises an honest and insightful look into his remarkable journey.<\/section>\n<\/section>\n<\/nav>\n<\/div>\n<article class=\"Article_wrapper__P_zM6\">\n<section class=\"Article_subtitle__Ocmla\">In exclusive excerpts obtained by\u00a0<em>TheCable<\/em>, Otedola recounts the dramatic rollercoaster of his business life \u2014 from being the darling of Nigerian banks to confronting massive debt.\u201cAt one point, I was the favourite of the banks, who went out of their way to court me,\u201d he recalls. \u201cThey would even send attractive women to make their offers more enticing. But today, I wake up to the sight of towering, barrel-chested men intimidating me in front of my gate.\u201d<\/p>\n<p>The memoir details the massive financial toll he suffered during the global oil slump and Nigeria\u2019s economic downturn. Otedola disclosed:<\/p>\n<blockquote><p>\u201cAll told, I lost more than US$480 million due to the drop in oil prices, US$258 million through the devaluation of the naira, US$320 million from accruing interest, and an additional US$160 million when the stock market crashed.\u201d<\/p><\/blockquote>\n<p>Otedola built his wealth from humble beginnings, starting with Zenon Petroleum, which evolved from selling diesel in drums to a dominant player in Nigeria\u2019s diesel market. He later acquired African Petroleum and transformed it into Forte Oil Plc \u2014 once one of the Nigerian Stock Exchange\u2019s top performers.<\/p>\n<p>However, his fortunes waned after a pivotal 2008 diesel shipment, ordered at $147 per barrel, arrived when crude prices had plunged to $40. The double blow of devalued naira \u2014 from N120 to N167 to the dollar \u2014 and falling diesel prices compounded the financial crisis, leaving him with substantial losses.<\/p>\n<p>Otedola\u2019s memoir is set to provide a candid and comprehensive look into the trials, tribulations, and triumphs that have defined one of Nigeria\u2019s most influential business careers. It promises readers valuable lessons from a man who has navigated the heights of success and the depths of adversity.<\/p>\n<\/section>\n<figure class=\"Article_hero-image__68oUe\"><picture><source srcset=\"https:\/\/image.api.sportal365.com\/process\/smp-images-production\/pulse.ng\/06082025\/98a3c5d9-c1da-4b42-b1d4-5d8ff71fef7b.png?operations=autocrop(1042:580)\" media=\"(min-width: 768px)\" \/><source srcset=\"https:\/\/image.api.sportal365.com\/process\/smp-images-production\/pulse.ng\/06082025\/98a3c5d9-c1da-4b42-b1d4-5d8ff71fef7b.png?operations=autocrop(520:330)\" media=\"(max-width: 767px)\" \/><\/picture><figcaption><\/figcaption><\/figure>\n<\/article>\n<\/section>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>His memoir promises a deep dive into the trials and triumphs that shaped one of Nigeria\u2019s most prominent business careers. \u00a0Femi Otedola has opened up about the staggering scale of his financial setbacks amid&#46;&#46;&#46;<\/p>\n","protected":false},"author":2,"featured_media":8145,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-8144","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/posts\/8144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=8144"}],"version-history":[{"count":2,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/posts\/8144\/revisions"}],"predecessor-version":[{"id":8147,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/posts\/8144\/revisions\/8147"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/media\/8145"}],"wp:attachment":[{"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=8144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=8144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=8144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}