First City Monument Bank Founder and Eminent Chief, Otunba Michael Olasubomi Balogun, Dies at 89

Otunba Michael Olasubomi Balogun, the esteemed founder of First City Monument Bank (FCMB) and a highly respected Olori Omoba of Ijebuland, passed away at the age of 89.

His demise leaves behind a void that will be felt not only in the business and banking sectors but also in the cultural and community circles that he so passionately contributed to.

Otunba Michael Olasubomi Balogun breathed his last in London on Friday morning, according to sources close to the family. While an official announcement is yet to be made, it has been disclosed that the Awujale of Ijebuland has been informed of his passing.

In adherence to tradition, a formal announcement will follow to pay tribute to his remarkable life and achievements.

Balogun’s entrepreneurial journey began with the establishment of First City Monument Bank, a financial institution that has emerged as a major player in Nigeria’s banking landscape under his visionary leadership.

His unwavering commitment to excellence and his relentless pursuit of innovation propelled FCMB to great heights, earning him widespread admiration within the industry.

However, Balogun’s influence extended far beyond the business realm. As the Olori Omoba of Ijebuland, he held a revered position and actively championed the preservation and promotion of the region’s rich cultural heritage.

His commitment to upholding traditional values and his unwavering dedication to community development made him a beloved and respected leader among the Egbas.