FCMB Founder Subomi Balogun Dies

The founder of First City Monument Bank (FCMB), Olasubomi Balogun, has reportedly died.

Reports obtained by Naija News said Balogun died on Friday morning in London, the United Kingdom, after battling an undisclosed illness briefly.

Balogun died at the age of 89. The deceased founded FCMB which he applied for a merchant banking license to establish in 1979.

Balogun was reportedly inspired by the entrepreneurial works of Siegmund Warburg, who co-founded S.G. Warburg, he visited Warburg in London prior to establishing his merchant bank.