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Femi otedola set to sell his forte oil shares

Nigerian billionaire businessman, Femi Otedola is set to sell his shares In forte oil.

Mr. Otedola announced on Monday afternoon his intention to sell his 75 per cent direct and indirect shareholdings in Forte Oil.

This was revealed by the Nigerian Stock Exchange in a statement on its website on Monday.

The statement which was signed and also made available to reporters by Akinleye Olagbende, the General Counsel of the company.

The statement entitled ‘notification of divestment by the majority shareholder in the downstream business operations,’ reads,“Forte Oil Plc hereby notifies the Nigerian Stock Exchange, Securities and Exchange Commission, Shareholders and the investing community that its Majority Shareholder, Mr. Femi Otedola, CON has reached an agreement with the Prudent Energy team, investing through Ignite Investments and Commodities Limited, to divest of his full 75% direct and indirect shareholding in the Company’s downstream business.

Photograph of notice below

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