Buhari mourns death of FCMB founder, Subomi Balogun


President Muhammadu Buhari has shared in the grief of loss with the business community, particularly banking and investment sector, over the passing of an illustrious citizen, Chief Michael Olasubomi Balogun.

Chief Subomi Balogun, a legendary businessman and philanthropist, died on Friday, in London, aged 89.


President Buhari, in a condolence message made available to newsmen by his Special Adviser on Media and Publicity, Femi Adesina, commiserated with family members, friends, and associates of the late Subomi Balogun, whose legacy of kindness and charity stretched into many homes, institutions, and communities, touching lives through education, health, and multiple empowerment opportunities.

President Buhari affirmed that Chief Balogun, through foresight, wisdom, and hard work, lived ahead of his time, by starting the First City Merchant Bank in 1983, which has grown over the years, with branches across the country, and working assiduously for the take-off and success of the Nigerian Stock Exchange.

The President noted the outpouring of testimonies on the life and times of the legendary banker, especially his towering influence in grooming many talented leaders in the sector, who had since set up their investment platforms, within and outside the country.

He prayed that the Almighty God will receive the soul of the departed, and comfort all his loved ones.