Otedola splashes N300m on Ferrari cars for daughters

[Mr. Babatunde]

Femi Otedola, Nigerian businessman and father to famous entertainer Florence Ifeoluwa Otedola (DJ Cuppy) has spoiled his three daughters each with a Ferrari Portofino.

The 57-year-old philanthropist went out shopping for his three children and purchased the cars.

The 2019 Ferrari Portofino 2dr Convertible (3.9L 8cyl Turbo 7AM) is the least expensive, according to Edmunds. It arrives with a Manufacturer's Suggested Retail Price (MSRP) of around $210,783, including the destination fee.

AutoGuide is offering a $215,000 retail price for Portofino 2020, the most simple of the Ferrari brands.

In Naira terms, the expense would be between N240 and N251 million, at the official N387 to a dollar exchange rate. This means the billionaire has invested around N300 million on the gifts to his daughters in the parallel market at N465 to a dollar. Cuppy flaunted the cars on Twitter earlier today in a post that read, "Papa took us shopping and purchased one of each! # PortofinoFerrari # CuppyDat. The cars came in with custom plate numbers.