By Subomi Balogun, the visionary founder of FCMB (First City Monument Bank), breathed his last in the early hours of Friday morning. The financial industry mourns the loss of a true pioneer and leader.
Mr. Balogun, who had just celebrated his 89th birthday in March, leaves behind a remarkable legacy in both banking and the legal profession. Educated at Igbobi College, he went on to study law at the prestigious London School of Economics.
Before his illustrious banking career, Subomi Balogun served as a respected lawyer in the regional justice ministry and later at the federal ministry of justice until the January 1966 coup. The political upheaval prompted a shift in his professional path, leading him to embark on a journey into the world of banking.
Joining the Nigerian Industrial Development Bank (NIDB), Mr. Balogun made significant contributions and played a pivotal role in the establishment of Icon Securities, a subsidiary of NIDB specializing in merchant banking. His expertise and dedication soon propelled him into various ventures in the realms of commerce and economics.
In 1979, the culmination of his entrepreneurial spirit and banking acumen resulted in the birth of FCMB. With Subomi Balogun at the helm as the founder, the bank swiftly gained prominence and made significant strides in the financial landscape of Nigeria.
