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.