The creator of FCMB, Nigerian billionaire, banker, and philanthropist Otunba Michael Subomi Balogun, has died at the age of 89.
On Friday morning, Otunba Subomi Balogun was alleged to have died in a London hospital.
He attended Igbobi College and the London School of Economics, where he studied law.
Until the January 1966 coup, the deceased worked as a lawyer in the regional justice ministry and afterwards in the federal ministry of justice.
Mr Balogun went into banking after the coup and joined the Nigerian Industrial Development Bank (NIDB).
As director of operations, he established Icon Securities, an NIDB subsidiary that specialized in merchant banking. He worked for numerous business and economics firms before establishing FCMB in 1979.
Details to follow……