Businessman, philanthropist and founder of First City Monument Bank, Otunba Subomi Balogun has passed on aged 89.
He died in London Friday morning.
As a high ranking Egba Chief, his death has not been officially announced. However, the family had informed the Awujale of Ijebuland of his transition and a formal announcement would be made soon in line with tradition.
He was an alumnus of Igbobi College and studied law at the London School of Economics.
The deceased practised as a lawyer at the western regional justice ministry and then at the Federal Ministry of Justice until the January 1966 coup.
After the coup, Balogun dabbled into banking and joined the Nigerian Industrial Development Bank, NIDB.
He pioneered Icon Securities, a subsidiary of NIDB which specialised in merchant banking, as director of operations. He ventured into several commerce and economics firms until FCMB was established in 1979.
He will be remembered for his philanthropic gestures especially in supporting availability of healthcare services.
