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Breaking : FCMB founder, Subomi Balogun is dead


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Billionaire business man, Otunba Subomi Balogun is reported to have died.

It was learnt that the founder of FCMB,passed on in London.

He 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.

As a student in London, Balogun regularly attended fellowships and had the opportunity to meet some noted Nigerians such as Yakubu Gowon before the latter was president.

After earning his law degree, he returned to Nigeria to join the Ministry of Justice, Western Region.from the regional Ministry of Justice where he was a Crown Counsel, Balogun found a new post as a Parliamentary Counsel in the Federal Ministry of Justice.

After the January 1966 coup, he joined the Nigerian Industrial Development Bank.

At NIDB, his interest in investment banking led him to advocate for the establishment of merchant bank sponsored by NIDB. When ICON securities, a merchant banking outfit was established in 1973 as a subsidiary of NIDB, Balogun moved to ICON Ltd as a director of operations.

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