Subomi Balogun, billionaire businessman and founder of FCMB, has died

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Otunba Michael Subomi Balogun, founder of First City Monument Bank, FCMB, has died at the age of 89.

Balogun reportedly died on Friday morning in a London hospital.

The late Balogun celebrated his 89th birthday in March. He is an alumnus of Igbobi College and studied law at the London School of Economics. He practiced as a lawyer in the regional justice ministry and then in the federal justice ministry until the coup in January 1966.

After the coup, Balogun ventured into banking and joined the Nigerian Industrial Development Bank (NIDB). May his soul rest in peace

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