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Renowned Nigerian billionaire and oil magnate, Femi Otedola, has made a startling revelation in his soon-to-be-released memoir, Making It Big: Lessons from a Life in Business, disclosing how banks once sent “bewitching ladies” to entice him into taking loans and placing deposits.
The highly anticipated autobiography, published by FO Books and scheduled for release on August 18, 2025, offers a deep dive into the personal and professional journey of one of Africa’s most influential entrepreneurs.
According to excerpts obtained by TheCable, Otedola recounts both the highs of his flourishing business empire and the devastating financial downturn that followed, painting a vivid picture of the challenges he faced when the global oil market crashed.
“All told, I lost more than US$480 million to the plunge in oil prices, US$258 million through the devaluation of the naira, US$320 million because of accruing interest, and another US$160 million when the stocks crashed,” he wrote.
“It was devastating, like a terrible nightmare, but a nightmare would have been better: day would break, and I would wake up. There was no waking up from this.”
Otedola further described the dramatic shift in how financial institutions treated him before and after the crisis.
“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.
They would send bewitching ladies to make their offers more convincing, and now I was waking up to the sight of hefty, barrel-chested men standing menacingly in front of my gate, waiting for the moment I’d step out of my compound.”
The First Bank Holdings chairman had previously teased the memoir in a post on his X (formerly Twitter) handle on July 17, noting that the book would chronicle the defining lessons of his entrepreneurial life.
“I am excited to announce the forthcoming release of my new book, ‘Making it Big’ set to launch on August 18th,” Otedola wrote.
“Just a month to go. The lessons, setbacks, and triumphs that shaped my path are almost ready for you.
In these pages, I’ve shared the real stories – the moments of doubt, the breakthroughs, and the principles that guided me through it all.
I look forward to opening this conversation with entrepreneurs and visionaries across the world, and to seeing how these experiences might inspire your own journey forward.”
The revelations from Making It Big: Lessons from a Life in Business promise to shed light not only on the high-stakes world of Nigerian business but also on the deeply personal trials that tested Femi Otedola’s resilience and principles. With his candid storytelling and willingness to expose the inner workings of both his triumphs and failures, the memoir is set to be a compelling read for entrepreneurs, investors, and anyone interested in the complex realities of wealth and influence in Africa.
As the August 18 release date approaches, anticipation continues to build for what may be one of the most talked-about business autobiographies of the decade.
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