FCMB Founder Subomi Balogun Dies At 89

The business titan was born on March 9, 1934 in his hometown of Ijebu Ode, Ogun State.

The late Otunba Subomi Balogun


The founder of First City Monument Bank (FCMB), Otunba Subomi Balogun, has passed away at the age of 89.

Confirming the business titan’s demise in a statement Friday on Twitter, Governor Dapo Abiodun of Ogun State noted that the late octogenarian’s unwavering commitment, tireless efforts, and remarkable contributions would continue to inspire generations to come.

Reports indicate that Balogun, who was born March 9, 1934, in his hometown of Ijebu Ode, Ogun State, passed away in a London hospital Friday morning.

“It is with a heavy heart and sadness that we receive the news of the passing of our dear father, Otunba Michael Subomi Balogun, the Asiwaju Omooba of Ijebuland and founder, First City Monument Bank – @MyFCMB,” Abiodun tweeted.

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According to the governor, Balogun will be remembered as a visionary leader who dedicated his life to the betterment of society.

“May the memories of Otunba Balogun Subomi serve as a guiding light and source of inspiration as we carry forward his legacy of service and dedication,” Abiodun said.

“We hereby express our heartfelt condolences to his family and pray God grants them the strength to bear this sad loss. May God rest his soul.”