Death hits banking industry as FCMB founder, Subomi Balogun dies 

CITIZENS COMPASS – The founder of First City Monument Bank (FCMB) Otunba Subomi Balogun, is dead.

He reportedly died in a London hospital on Friday morning.

Mr Balogun had celebrated his 89th birthday on March 9, 2023. 

Until his death, he was Otunba Tunwase of Ijebuland in Ogun State. 

Balogun who pioneered investment banking as well as indigenous financial entrepreneurship in Nigeria, was 89 years old àt his last birthday.

He was a long time member of the council of the Nigerian Stock Exchange.

The late Otunba converted to Christianity during his secondary school days in Igbobi college.

Balogun built a National Pediatric Centre in Ijebu-Ode and donated the centre to University of Ibadan’s College Teaching Hospital.

He studied Law at the London School of Economics.

As a ranking Ijebu Chief, his death will, however, only be officially announced in line with tradition.


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