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Late Industrialist, Jimoh Odutola’s family at war with FCMB chairman, Otunba Subomi Balogun*** Detais of the billion naira crisis




There is fire on the mountain for Ladi Balogun-led First City Monument Bank (FCMB).

Information available to can reveal that the once united family of Late Ijebu Ode industrialist, Alhaji Jimoh Odutola, who died years back, is now disarray and that it is due to a war between his 24 children over the vast billions invested in FCMB., was informed that the crisis is been brewed by the chairman of the bank, Otunba Subomi Balogun, as he is being alleged to be reluctant to release the deceased funds to the family for sharing.

We gathered that the logic of the bank is based around the fact that if such heavy sum should leave the bank, it might affect the health of the financial institution adversely. Lately, controversies, has become another name for Otunba Balogun, especially in his home town,Ijebu Ode.

You may recall that weeks back a faction of his clan the Fusengbuwa royal house, rejected him as the new head of the ruling house, they claim former ICAN president Otunba Lateef Owoyemi is the legitimate head of the family, that the Awujale of Ijebuland, Oba Kayode Adetona, allegedly imposed Otunba Balogun on them. At the moment the children of Late Jimoh Odutola, are at daggers drawn and they are accusing the Asiwaju of Ijebu Christian conniving with the eldest son of the family, Akin Moshoodi Odutola, to circumvent other siblings, through his bank.

-Additional report Urban Life


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