JUST IN: FCMB founder Subomi Balogun is dead

The founder of FCMB, Subomi Balogun, has died.

He died in London Friday morning.

Subomi Balogun is a Nigerian Yoruba banker and philanthropist. He is the founder of First City Merchant Bank, a company that later became the FCMB group. Balogun was a long time member of the council of the Nigerian Stock Exchange.

Balogun was born in 1934 at Ijebu-Ode, Ogun State, Nigeria to Muslim parents. Balogun converted to Christianity while in secondary school. He graduated from Igbobi College and studied Law at the London School of Economics. Before leaving for Europe, he briefly worked as a teacher.

After graduating from the London School of Economics, Balogun returned to Nigeria and worked as a lawyer for a few years. In 1973, he founded First City Merchant Bank, which was the first merchant bank in Nigeria. The bank was very successful and quickly became one of the leading banks in Nigeria. In 1990, Balogun retired from First City Merchant Bank and became chairman of the FCMB group.

Balogun is a respected figure in the Nigerian banking industry. He is a member of the board of directors of several companies and is a philanthropist. He has donated money to several charities and has established several educational institutions.

Balogun is a recipient of several awards, including the Nigerian National Merit Award and the African Banker of the Year Award. He is a Fellow of the Nigerian Institute of Management and the Nigerian Bar Association.

Balogun is married and has four children. He is a devout Christian and is a member of the Redeemed Christian Church of God.

Here are some of the notable achievements of Subomi Balogun:

• Founded First City Merchant Bank, which was the first merchant bank in Nigeria.
• Led First City Merchant Bank to become one of the leading banks in Nigeria.
• Retired from First City Merchant Bank and became chairman of the FCMB group.
• Is a respected figure in the Nigerian banking industry.
• Is a member of the board of directors of several companies.
• Is a philanthropist.
• Has donated money to several charities.
• Has established several educational institutions.
• Is a recipient of several awards.
• Is a Fellow of the Nigerian Institute of Management and the Nigerian Bar Association.
• Is married and has four children.
• Is a devout Christian and is a member of the Redeemed Christian Church of God.