President Muhammadu Buhari and Lagos State Governor Babajide Sanwo-Olu are among prominent Nigerians who have shared grief on the death of the founder of First City Monument Bank (FCMB), Otunba Michael Olasubomi Balogun.
According to family sources, the eminent banker and philanthropist died in London on Friday morning. He was 89.
In a statement by his Special Adviser on Media and Publicity, Femi Adesina, President Buhari said that the revered businessman’s “legacy of kindness and charity stretched into many homes, institutions, and communities, touching lives through education, health, and multiple empowerment opportunities”.
The statement further read: “President Buhari affirms that Chief Balogun, through foresight, wisdom, and hard work, lived ahead of his time, by starting the First City Merchant Bank in 1983, which has grown over the years, with branches across the country, and working assiduously for the take-off and success of the Nigerian Stock Exchange.
“The President notes the outpouring of testimonies on the life and times of the legendary banker, especially his towering influence in grooming many talented leaders in the sector, who had since set up their investment platforms, within and outside the country.
“President Buhari prays that the Almighty God will receive the soul of the departed, and comfort all his loved ones”.
Sanwo-Olu described the businessman as a “renowned technocrat, seasoned administrator and philanthropist, who made a mark in the country by contributing to the growth and development of the banking sector in Nigeria”.
In a condolence message on Friday by his Chief Press Secretary, Mr. Gboyega Akosile, the Governor also commended Balogun’s contribution to the economy of Nigeria as boardroom guru and employer of labour, especially as the founder of FCMB among several other companies.
Sanwo-Olu also commiserated with Ogun State Governor, Prince Dapo Abiodun; the Awujale of Ijebu Kingdom, Oba Sikiru Adetona and the entire people of Ogun State, especially the Ijebu on the demise of their illustrious son and elder statesman.
He also sympathised with FCMB’s Managing Director, Mrs. Yemisi Edun and the management and staff of the financial institution.
He said: “On behalf of the Government and people of Lagos State, I want to express my sincere condolences to the family, friends and associates of Otunba Subomi Balogun, as well as management and staff of FCMB.
“I pray that God will grant him eternal rest and grant his immediate family, friends, associates, FCMB team, the banking industry and the people of Ogun State, the fortitude to bear the irreparable loss”.
