Otunba Olasubomi Balogun: The Unforgettable Entrepreneurship and Philanthropy Legacy of The FCMB Founder 


The financial and business community mourns the loss of Otunba Michael Olasubomi Balogun, the patriarch and founder of FCMB (First City Monument Bank), who passed away on Thursday, May 18th, 2023, at the age of 89. Balogun’s death, following a brief illness, occurred in the evening in London, United Kingdom, surrounded by his loving family.


With heavy hearts but gratitude for the rich life he led, the Balogun family announced the news of their beloved patriarch’s passing. Otunba Michael Olasubomi Balogun was not only a prominent figure in the banking sector but also held esteemed titles such as The Olori Omo Oba Akile Ijebu and Asiwaju of Ijebu Christians, which reflected his deep connection to his heritage and faith.


Balogun’s life was marked by remarkable achievements and a commitment to various spheres of influence. Known for his hard work, entrepreneurship, excellence, tenacity, courage, and discipline, he leaves behind a lasting legacy that extends beyond the realm of business. His dedication to God, family, community, philanthropy, and Nigeria serves as an inspiration for future generations to emulate.


Following the announcement of his passing, an outpouring of love, sympathy, and kind words flooded in, providing solace to the grieving family during this difficult time. Books of condolence will be available for signing at his residences in Lagos and Ijebu Ode, as well as selected FCMB and Chapel Hill Denham offices. An online condolence register has also been set up on the official website,


While details regarding the Celebration of his Life are yet to be announced, the Balogun family expressed their gratitude for the support and requested prayers from the public. They fervently hope that Otunba Michael Olasubomi Balogun will find eternal rest in the loving embrace of the Almighty God.


The passing of this visionary leader and philanthropist leaves a void in the business world, but his contributions will be remembered and celebrated for years to come. Otunba Michael Olasubomi Balogun leaves behind an indelible mark, serving as a beacon of inspiration and a testament to the power of hard work, faith, and dedication.




Related posts

Tony Elumelu Speaks As UBA Loans To Customers Rose To N2.83tn In 2021

Naija Society News

Fitch Upgrades Fidelity Bank’s issuer default rating from ‘B-’ to ‘B’

Naija Society News

Union Bank Introduces New CEO As Emeka Emuwa Steps Down

Naija Society News

Leave a Comment