BREAKING: FCMB founder, Subomi Balogun, dies aged 89

The founder of First City Monument Bank, FCMB Otunba Michael Olasubomi Balogun, has reportedly died.

The Olori Omoba of Ijebuland was said to have died on Friday morning in London,

Balogun, who was Otunba Tunwase of Ijebuland, was aged 89.

Balogun who was the chairman of First City Monument Bank (FCMB) celebrated his 89th year birthday on 9th March 2023.

Michael Olasubomi “Subomi” Balogun was a Nigerian banker and philanthropist who founded First City Merchant Bank, a company that later became the FCMB group. Balogun was a long time member of the council of the Nigerian Stock Exchange.

He was born in 1934 at Ijebu-Ode, Ogun State, Nigeria to Muslim parents.

He graduated from Igbobi College and studied Law at the London School of Economics. Before leaving for Europe, he briefly worked as a teacher.

As a student in London, Balogun regularly attended fellowships and had the opportunity to meet some noted Nigerians such as Yakubu Gowon before the latter was president.

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