Michael Olasubomi Balogun, founder of the First City Merchant Bank (FCMB) died at the age of 89 in London on Friday morning, reports say.
Chronicle NG cannot independently confirm the cause of his death at the time of this report.
Born in 1934 at Ijebu-Ode, Ogun State to Muslim parents, Subomi 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.
In 1979, he applied for a merchant banking license to establish FCMB. Balogun was inspired by the entrepreneurial works of Siegmund Warburg, who co-founded S.G. Warburg, he visited Warburg in London prior to establishing his merchant bank.
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