Renowned Nigerian entrepreneur and founder of First City Monument Bank (FCMB), Otunba Michael Olasubomi Balogun, has passed away at the age of 89.
According to sources close to the family, Balogun breathed his last in London on Friday morning.
The news of his demise has left the nation mourning the loss of a visionary leader and a respected figure in the banking industry.
Otunba Michael Olasubomi Balogun, popularly known as the founder of FCMB, leaves behind a remarkable legacy that has significantly influenced Nigeria’s financial sector.
His entrepreneurial journey began several decades ago when he established FCMB, which has since grown to become one of Nigeria’s leading financial institutions.
Through his visionary leadership, Balogun played a pivotal role in shaping the landscape of modern banking in the country.
Beyond his achievements in the business world, Balogun held a prominent position in his community as Otunba Tunwase of Ijebuland.
His commitment to his ancestral heritage and traditional values was widely recognized and appreciated.
As per longstanding customs, the official announcement of his passing will be made in accordance with the traditions of Ijebuland.
