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FCMB founder Subomi Balogun dies at 89

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FCMB founder Subomi Balogun dies at 89

Otunba Subomi Balogun, founder of First City Monument Bank (FCMB), has reportedly died.

According to Peoples Gazette, Mr Balogun died on Friday morning at the age of 89.

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He was an alumnus of Igbobi College in Lagos and studied law at the London School of Economics.

Late Subomi practised as a lawyer in the regional justice ministry and then at the federal ministry of justice until the January 1966 military coup.

Mr Balogun ventured into banking after the coup 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 before setting up FCMB in 1979.

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