FCMB Founder, Subomi Balogun Is Dead

The founder of First City Monument Bank (FCMB), Olasubomi Balogun, is died.

SaharaReporters gathered that the business mogul died on Friday morning in London, United Kingdom after a brief illness.

He was 89 years old.

Balogun was the founder of First City Monument Bank. In 1979, he applied for a merchant banking license to establish First City Merchant Bank.

Balogun was reportedly 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.