Founder of The First City Monument Bank, Otunba Subomi Balogun passed away today aged 89, he was a very wealthy man that loves Rolls-Royce cars especially the Phantom and he had around 11 units, he also loves the BMW 7 Series models.
He had a Thanksgiving in his Ijebu Ode mansion recently and he could be seen wearing a Rolex, and he had very long gold necklaces around his neck.
Otunba Subomi Balogun is a prominent Nigerian businessman and philanthropist. He was born on March 9, 1934, in Ijebu-Ode, Ogun State, Nigeria. Balogun is the founder of the First City Monument Bank (FCMB) Group, one of Nigeria’s leading financial institutions.
Balogun started his career in banking in the 1950s and worked at the National Bank of Nigeria before venturing into entrepreneurship. In 1977, he established City Securities Limited, a company that provided stockbroking and investment services. Later, in 1982, he obtained a banking license and established the First City Merchant Bank Limited, which was later renamed First City Monument Bank (FCMB). Under Balogun’s leadership, FCMB grew to become a significant player in the Nigerian banking industry.
Beyond his contributions to the financial sector, Otunba Subomi Balogun is also well-known for his philanthropic endeavours. He has made significant donations to educational institutions, healthcare facilities, and various community development projects in Nigeria. He established the Otunba Tunwase National Pediatrics Centre, a pediatric hospital in Ijebu-Ode, and the Olori Subomi Balogun Foundation, which supports initiatives in education, healthcare, and other sectors.
Balogun’s achievements have been recognized both in Nigeria and internationally. He has received numerous awards and honours for his contributions to business and philanthropy, including the Nigerian National Honor of Commander of the Order of the Niger (CON).
