Founder of FCMB, Chief Subomi Balogun, reportedly dies at 89

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The founder of First City Monument Bank, FCMB, Otunba Michael Olasubomi Balogun, 89, reportedly died in London on Friday morning, according to ThisDay reports.

Balogun, born on March 9, 1934, at Ijebu-Ode in Ogun State, is a renowned philanthropist who founded First City Merchant Bank, which later grew into the FCMB group.

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Before his demise, Balogun, the Otunba Tunwase of Ijebuland and Olori Omoba of Ijebuland, was a czar of the Nigerian capital and money markets and a long-time member of the council of the Nigerian Stock Exchange.