The Digest:
In his upcoming memoir, billionaire businessman Femi Otedola sheds light on the lengths banks went to secure his business. He recalls how, during his rise, financial institutions used 'bewitching ladies' to persuade him into taking loans and making deposits. This revelation highlights the intense tactics banks employed to attract influential clients during his business empire's prime.
Key Points:
- Femi Otedola shares revelations in his memoir, Making It Big.
- Banks sent 'bewitching ladies' to convince Otedola to place deposits and take loans.
- Otedola recounts a challenging period of heavy debt caused by falling oil prices and naira devaluation.
- He lost over $480 million due to these economic factors.
- Otedola went from being the darling of banks to facing intimidation with men standing at his gate.
- The memoir also reflects on lessons learned, setbacks, and entrepreneurial triumphs.
- Otedola's book is set for release on August 18, 2025, sharing insights for aspiring entrepreneurs.
In his new memoir, Femi Otedola discusses how banks once courted him with ‘bewitching ladies’ and later turned against him after his business empire suffered from global oil price crashes and currency devaluation. His lessons are set to inspire entrepreneurs globally.
Sources: Vanguard, FO Books
