Otunba Subomi Balogun, founder of First City Monument Bank (FCMB), has died.
He passed on to the great beyond on Friday, May 19, at the age of 89.
He reportedly died at an undisclosed hospital in London, United Kingdom.
Asides from being the founder of FCMB Group, late Balogun was the Otunba Tunwase, the Olori Omo-oba of Ijebu; the Asiwaju of Ijebu Christians, the Baba Oba of Ijebu-Ife and the Asalu-Oba of Ijebu Mushin.
He was born in 1934 in Ijebu-Ode, Ogun State to Muslim parents, but was rumored to have converted to Christianity while in secondary school.
He graduated from Igbobi College in Lagos and proceeded to study Law at the London School of Economics. Before leaving for Europe, he briefly worked as a teacher. After earning his law degree, he returned to Nigeria to join the Ministry of Justice, Western Region.
Otunba Balogun has several awards in his kitty. He is a recipient of the American Biographical Institute Inc’s Distinguished Leadership Award for outstanding contributions to the development of Investment Banking.
He is also a recipient of the University of Ibadan’s Degree of Doctor of Laws (Honoris Causa) in recognition of his outstanding achievements both in the field of Law and his contributions to the socio-economic development of Nigeria; a Merit Award for philanthropic services to Ogun State in particular and the country as a whole, and also the Ijebu Development Association award and Council Membership of a number of multi-national Chambers of Commerce.
The Chartered Institute of Bankers of Nigeria made him a Fellow of the Institute for his pioneering and outstanding contribution to the Banking Industry.
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