The founder of the First City Momentum Bank Subomi Balogun has been pronounced dead. He was reportedly to have died in London on May 19, 2023.
Otunba Subomi Balogun celebrated his 89th birthday. Before his death, He was Otunba Tunwase of Ijebuland before his death.
Otunba Subomi Balogun Biography
Otunba Subomi Balogun, whose full name is Olorogun Dr. Michael Adeniyi Agbolade Ishola Balogun, is a prominent Nigerian businessman, philanthropist, and the founder of First City Monument Bank (FCMB) Group Plc. He was born on March 9, 1934, in Ijebu-Ode, Ogun State, Nigeria.
Here is a brief biography of Otunba Subomi Balogun:
Early Life and Education:
Otunba Subomi Balogun was born into the Balogun family, a prominent lineage in Ijebu-Ode.
He had his early education at Saint Augustine’s School, Ijebu-Ode, and Ijebu-Ode Grammar School.
He later attended Regent Street Polytechnic in London, where he studied banking and commerce.
After completing his studies, Balogun returned to Nigeria and began his career in banking.
He started as a clerk at Barclays Bank, and over time, he gained experience and rose through the ranks in the banking industry.
In 1977, Balogun founded the First City Merchant Bank Limited, which later became First City Monument Bank (FCMB) Group Plc. Under his leadership, FCMB became one of the leading financial institutions in Nigeria.
Balogun served as the Chairman of FCMB Group until 2010 when he retired as the Chairman but remained as the Founder Emeritus of the bank.
In addition to his role in the banking sector, Otunba Subomi Balogun has also been involved in various other businesses.
He has interests in sectors such as real estate, insurance, and hospitality through his conglomerate, the Balogun Group.
Otunba Subomi Balogun is known for his philanthropic activities and has made significant contributions to the development of education, healthcare, and community development in Nigeria.
He established the Otunba Tunwase National Paediatrics Centre, which is a world-class pediatric hospital located in Ijebu-Ode.
Balogun has also donated to several educational institutions, including the University of Ibadan and the University of Lagos.
Honors and Recognitions:
Balogun has received numerous honors and recognitions for his contributions to society.
He was conferred with the national honor of Commander of the Order of the Niger (CON) by the Nigerian government in 1999.
He has also been recognized by various organizations and institutions for his outstanding achievements in business and philanthropy.
Otunba Subomi Balogun is married to Olori Abimbola Balogun, and they have children and grandchildren.
He is known for his strong belief in the importance of family and his commitment to his community.
Otunba Subomi Balogun’s life and achievements exemplify his entrepreneurial spirit, leadership, and dedication to making a positive impact on society through his business and philanthropic endeavors.
Subomi Balogun Age
The founder of First City Momentum Bank was born on March 9, 1934, and died at the age of 89. He died as the holder of a traditional post.