Otunba Balogun
First City Monument Bank (FCMB) fonder Otunba Michael Olasubomi Balogun, is dead.
Family sources revealed that the Olori Omoba of Ijebuland died in London Friday morning.
Balogun, who was also the Otunba Tunwase of Ijebuland, was aged 89.
As a high ranking Egba Chief said his death is yet to be officially announced.
He said his family has reportedly informed the Awujale of Ijebuland of the late Balogun’s death and a formal announcement would be made soon in line with tradition.
He was an alumnus of Igbobi College and studied law at the London School of Economics.
He practised as a lawyer in the first republic regional justice ministry and then at the federal ministry of justice until the January 1966 coup.
After the coup, Mr Balogun ventured into banking and joined the Nigerian Industrial Development Bank (NIDB), after which he pioneered Icon Securities — a subsidiary of NIDB which specialised in merchant banking — as director of operations. Experienced in the sector, he ventured into several commerce and economics firms until FCMB was established in 1979.
