10 Facts About Late Billionaire Banker, Subomi Balogun

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Subomi Balogun, the founder of First City Monument Bank, died recently.

He reportedly died in a London hospital Friday morning aged 89.

Here are 10 things to know about the late FCMB founder.

1. The late banker was born on 9 March 1934 in Ijebu-Ode, Ogun State.

2. Balogun was a long time member of the council of the Nigerian Stock Exchange.

3. The deceased converted to Christianity during his secondary school days in Igbobi college.

4. Until his demise, Balogun was the Otunba Tunwase of Ijebuland. He was also the Olori Omoba of Ijebuland and the Asiwaju of Ijebu Christians.

5. After studying in London, Balogun returned to Nigeria to join the Ministry of Justice, Western Region.

6. He later joined the Nigerian Industrial Development Bank after the January 1966 coup.

7. Balogun built a National Pediatric Centre in Ijebu-Ode and donated the centre to University of Ibadan’s College Teaching Hospital.

8. He studied Law at the London School of Economics.

9. He also briefly worked as a teacher before leaving for Europe.

10. In 1979, he applied for a merchant banking license to establish First City Merchant Bank. The operations of the bank began in 1983.

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Source: The PUNCH