Nigerian banking legend Subomi Balogun dies at 89

Subomi Balogun, the doyen of investment banking in Nigeria, passed away in London on Friday after a brief illness. He was 89.

In 1982, Balogun founded First City Merchant Bank, a company that later became FCMB Group, a publicly listed financial services conglomerate with a market capitalization of $176 million.

He was a philanthropist of note. He built the National Pediatric Center in Ijebu-Ode, which he donated to the University of Ibadan’s University College Teaching Hospital.

Feyisayo Ajayi
Feyisayo Ajayi
Feyisayo Ajayi is a financial reporter for Billionaires.Africa. He covers topics ranging from company valuations to educational technology. Feyisayo holds a degree in geology from the acclaimed University of Ibadan.

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