FCMB founder Subomi Balogun is dead

  • The founder of First City Monument Bank (FCMB) and the Olori Omoba of Ijebuland,  Otunba Michael Olasubomi Balogun is dead. according to family source He died in London Friday morning.
    Otunba is a direct descendant of  Oba Tunwase of Ijebu-Ode,  Otunba Balogun  was the Olori Omoba (head of princes) of Ijebuland and the Asiwaju of Ijebu Christians. he celebrated his 89th birthday on March 9 2023.

    He was an alumnus of Igbobi College and studied law at the London School of Economics.

    The deceased practiced as a lawyer in the regional justice ministry and then at the federal ministry of justice until the January 1966 coup.

    After the coup, Mr Balogun ventured into banking and joined the Nigerian Industrial Development Bank (NIDB), where he advocated for the establishment of merchant bank. He joined ICON Securities, a merchant banking outfit established in 1973 as a subsidiary of NIDB, and became a director of operations at ICON Ltd, as director of operations. He ventured into several commerce and economics firms until FCMB was established.