Otunba Michael Olasubomi Balogun, the founder of First City Monument Bank (FCMB), allegedly passed away.
Family sources told Thisday that the Olori Omoba of Ijebuland reportedly passed away on Friday morning in London. Balogun was 89 years old and was Otunba Tunwase of Ijebuland.
Although it was heard that the family had notified the Awujale of Ijebuland about his passing and that a formal statement would be made soon in accordance with custom, his death has not yet been given official recognition as a high-ranking Egba Chief.
As a director of operations at ICON Ltd., he joined ICON Securities, a merchant banking organization founded in 1973 as a subsidiary of NIDB.
Later, Otunba Balogun established City Securities, a stock brokerage and issuance firm that handled equity issues for the petroleum marketing corporations Mobil, Texaco, and Total.
Subomi Balogun Obituary
The final funeral rite is yet to be announced by the family as customary demands. Stay tuned as we bring you information regarding his funeral.