Welcome to 9jaflaver

HOME | MUSICS | FREEBEAT | VIDEOS | NEWS | TECHS | JOKES | COMEDY VIDEOS | GOSPEL

Celebrity News | Education | Fashion | Football Updates | Lifestyle | Funny Photos

Call Only:- +2348081377637 or +2348111727895

You Can Email Us:- [email protected]



« | »

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


Femi Otedola loses 1.3billion invalue. 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 tradingon 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.

Apart from the tumble in Forte Oil’s stock price, Otedola’s fortune has also been adversely affected by a central bank devaluation of the Naira in June.

In dollar terms, the devaluation in addition to Forte’s floundering share price has knocked about $1.3 billion off the value of Otedola’s fortune which was pegged at $1.8 billion in March.

Otedola, who is Forte Oil Plc’s Chairman, is now worth only $550 million as at the close of business ofFriday, according to the FORBES’ billionaires’ database.

Femi Otedola was unavailable for comments. However, an analyst at a Lagos-based Investment bank hinted that the share price drop may not be unconnected to the current recession in Nigeria that has witnessed 2 consecutive quarters of negative growth with inflation soaring to levels as high as 17%.

 

Click Here To Comment On This Post

 

[Music] Krizbeatz Ft Mayorkun And Reminisce - Poker

[Music] Nelson Cool – Ifeoma

[Music] Kiss Daniel – Yeba

[Music] Lil Kesh Ft Rankfiizy – Ghetto Boi

[Music] Tekno Ft Wizkid – Mama

[Music] Bold Cool – No Vex

[Music] Olamide – Enimimomi

[Music] Mr Never Ft Marvey Muzique – Let You Know

author image
About 9jaflaver owner (Mr Ejump)

Mr Ejump Is the owner/CEO of 9jaflaver, he's an economist, a loving, and friendly young man. CONNECT via:- FACEBOOK TWITTER


Posted by on October 20, 2016.

Categories: 9ja celebrity news

There is love in sharing

0 Responses

Don't Just Read A Post And Go, Comment Below To Make The Post Lively

Do You Have Something To Say? Comment In The Box Below

Your Name Below

NOTE:- After Dropping your comment, keep calm, it will take 5mins before it appears.

« | »


Hottest Songs This Week

FOR MORE MUSICS CLICK HERE

Hottest Videos This Week

FOR MORE VIDEOS CLICK HERE

9jaflaver Music Of The Week

Lil Kesh Ft Rankfiizy – Ghetto Boi

9jaflaver music of the week

DOWNLOAD HERE

Also Check Out:-

Nelson Cool – Ifeoma

Also check out

DOWNLOAD HERE

Mr Never Ft Marvey Muzique – Let You Know

Also check out

DOWNLOAD HERE

Advertise | About Us | Privacy Policy | Contact Us | Content Removal | DMCA

Like us on facebook | Follow us on twitter
Copyright © 2017 9jaflaver
Powered By: 9jaflaver