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“This Loss Is Heavy, Quite Shocking” — Omooba Ayoola Mourns Subomi Balogun, FCMB Founder



Image of Otunba Subomi Balogun, the FCMB Founder

An international trade expert from Odogbolu Local Government area of Ogun State, Omooba Adekunle Adebayo Ayoola has said that the exit of the business mogul and founder of the First City Monument Bank (FCMB) Otunba Subomi Balogun is a devastating blow to the people of Ijebu land, Ogun State and Nigeria as a whole.

Omooba Adekunle Ayoola described Otunba Subomi Balogun who is also the Olori Omooba and Asiwaju Onigbagbo of Ijebu land as a quintessential entrepreneur, a foremost banker and philantropist par excellence who dutifully served humanity with all that the almighty God endowed him with saying that he was just a rare kind of an exceptional individual.

In a statement issued to mourn the business mogul said to have died in London at 89, the Poland based international trade expert and founder of Obaruwa Foundation said that it was with great sadness that the entire Ijebu land and the business world received the news of the exit of one of its finest breed.

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He said, “even though our highly revered baba had lived to be 89 about two months ago, he had shown no sign of any threatening ailment and many of us are already looking forward to join his admirers, friends, associates and family members across the globe to celebrate his 90th birthday early next year. However, God said it’s time for him to come home and rest.”

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Ayoola described Subomi Balogune as an outstanding Nigerian Yoruba banker and philanthropist who played a significant role in the growth and development of the Nigerian financial industry.

He said “Chief Balogun’s legacy is indelible, as he was the founder of First City Merchant Bank, which later became the FCMB group. He led the bank with exemplary leadership, setting a very high standard that we still witness in the industry today.

“Our thoughts and prayers are with the family and loved ones of Chief Balogun during this difficult time. We hope that you find solace in knowing that his legacy will continue to be felt for generations to come. Rest in Peace, Chief Michael Olasubomi Balogun, the Olori Omooba and Asiwaju Onigbagbo of Ijebu land.”

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