AT A GLANCE
Age: 61
Source of wealth: Oil and self-made
Residence: Lagos Nigeria
Country of Citizenship: Nigeria
Marital Status: Married
Children: 4
Position: 24th on Africa's richest
She made he wealth essentially from oil. However, she worked as a secretary with the defunct International Merchant Bank of Nigeria in the mid 70s. In the 1980s she studied fashion designing in England after which, she established Supreme institute. She was very lucky when her company Famfa oil was awarded an oil prospecting license by Babangida administration in 1993. The oil block later became OML 127. She has 60% stake in the block while Chevron has the other 40%. Nevertheless, in year 2000, Obasanjo under his administration unduly converted 50% stake of her oil block to his which forced Folorunsho to seek for legal redress. She eventually won back the 50%.
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