Subomi Balogun: 10 ‘outstanding’ facts about late billionaire banker


, a renowned Nigerian banker and philanthropist, passed away on Friday morning at a hospital in London. Balogun, who was 89 years old, was the founder of First City Monument Bank, one of Nigeria’s leading financial institutions.


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He was widely respected for his business acumen and his commitment to social responsibility, which led him to support numerous charitable causes throughout his life.



Born on May 9, 1934, Subomi Balogun had a long and illustrious career in the banking industry, spanning several decades.



Subomi Balogun was a pioneer in the field of banking in Nigeria, and his contributions to the development of the financial sector in the country have been widely acknowledged.


Balogun’s passing marks the end of an era in Nigerian banking, and his legacy will continue to inspire generations of entrepreneurs and philanthropists in the years to come.


He celebrated his 89th birthday on May 9.


Subomi Balogun, the founder of First City Monument Bank, has passed away.


Friday morning, he reportedly died in a London hospital at the age of 89.


Here are ten facts about the deceased , Subomi Balogun


1) The late banker was born in Ijebu-Ode, Ogun State, on March 9, 1934.



2) Balogun was a longtime member of the Nigerian Stock Exchange’s council.



3) During his high school years at Igbobi College, the deceased converted to Christianity.


4) Balogu was the Otunba Tunwase of Ijebuland until his death. He also held the titles of Olori Omoba of Ijebuland and Asiwaju of Ijebu Christians.



5) After completing his studies in London, Balogun returned to Nigeria to join the Western Region Ministry of Justice.


6) After the January 1966 coup, he joined the Nigerian Industrial Development Bank.



7) Balogun constructed the National Paediatric Centre in Ijebu-Ode and donated it to the College Teaching Hospital of the University of Ibadan.


8) He attended the London School of Economics to study law.


9) He also worked briefly as a teacher prior to leaving for Europe.



10) In 1979, he applied for a licence to establish First City Merchant Bank as a merchant bank. The bank’s operations began in 1983.

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