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Otedola: How Banks Sent Pretty Ladies To Get Deposits From Me
['African Examiner']
News From The State | African Examiner
Otedola: How Banks Sent Pretty Ladies To Get Deposits From Me(AFRICAN EXAMINER) – Nigerian billionaire, Femi Otedola, has opened up about his experience in the business world revealing that banks became hostile to him after his fortune decreased in 2009.
It is worth recalling that Otedola came into the Nigerian mega business scene with Zenon Petroleum, which increased from selling diesel in drums to acquiring the largest share of the local market.
Due to falling forex inflow, the naira was also devalued from N120/dollar to N167 in 2009, making the billionaire businessman to have a double problem of low diesel price and high dollar liability.
“It was devastating, like a terrible nightmare, but a nightmare would have been better: day would break, and I would wake up.
“One moment, I was the darling of the banks, who did everything in the world to court me, do business with me, give me loans, take deposits from me.
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'banks'
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'ladies'
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'waking'
'diesel'
'deposits']