In his forthcoming memoir, *Making It Big: Lessons from a Life in Business*, Nigerian billionaire Femi Otedola offers an unfiltered look into the volatile dynamics between entrepreneurs and financial institutions. At the zenith of his business empire, banks eagerly courted him, employing various strategies to secure his patronage.
> "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," Otedola recounts. "They would send bewitching ladies to make their offers more convincing."
However, the tides turned dramatically when his business faced challenges. A combination of plummeting oil prices, naira devaluation, and stock market crashes led to substantial financial losses:
- Over *480 million* lost due to the plunge in oil prices
- *258 million* lost through the devaluation of the naira
- *320 million* lost because of accruing interest
- Another *160 million* lost when the stocks crashed
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