Otedola: Banks Once Sent Attractive Ladies to Woo Me for Deposits
Nigerian billionaire businessman, Femi Otedola, has revealed that during his active years in business, some banks went as far as sending attractive women to persuade him to deposit large sums of money with them.
The startling claim, which has since gained widespread attention, was reported by Punch Newspaper and shared via the publication’s official X (formerly Twitter) handle.
Otedola, known for his candid views on Nigeria’s financial and business sectors, made the remark while recounting the aggressive and sometimes unconventional methods employed by banks in courting high-net-worth individuals.
According to him, these banks were not merely relying on financial incentives or interest rates to secure deposits. Instead, he claimed, they deployed what he called “bewitching ladies” in attempts to influence his decisions.
The billionaire did not specify the names of the banks involved or the precise timeframe when these events occurred. However, he framed the experience as an example of the extreme and personal lengths financial institutions would go to in order to attract large capital placements.
While the comment was shared in a seemingly light-hearted tone, it has sparked reactions across social media and the financial community. Some observers have interpreted the revelation as a reflection of the cutthroat competition among Nigerian banks, particularly during the oil boom era when Otedola was heavily involved in energy trading and other lucrative sectors.
Otedola has long been vocal about financial discipline, banking practices, and corporate governance. In previous statements, he criticized some banks for their extravagant spending habits, including the costly maintenance of private jets. He has also expressed support for regulatory interventions that promote accountability in the banking sector.
Though no banks have officially responded to his latest remark, it underscores the broader issue of ethical marketing and client relationship strategies in Nigeria’s banking industry. Analysts suggest the statement could reignite discussions around the boundaries of sales tactics and professional conduct in financial services.
This disclosure adds to the long list of controversial but thought-provoking public comments made by Otedola, who continues to play an influential role in Nigerian business discourse, particularly through his investments and commentary on market reforms. As of recent, he has also been at the center of attention for his investments in First Bank and his support for the Tinubu administration’s economic reforms.
The billionaire did not indicate whether he ever accepted any of the offers that came through such unconventional approaches, nor did he suggest wrongdoing. Still, the anecdote serves as a glimpse into the highly competitive—and at times, unorthodox—tactics that shaped Nigeria’s banking environment during his peak business years.
