President Muhammadu Buhari says he shares in the grief of the business community, particularly banking and investment sector, over the passing of an illustrious citizen, Chief Michael Subomi Balogun at 89.
The President, in a statement by his spokesman, Mr Femi Adesina on Friday in Abuja, condoled with family members, friends and associates of the revered businessman.
He noted that Balogun’s legacy of kindness and charity stretched into many homes, institutions, and communities, touching lives through education, health, and multiple empowerment opportunities.
Buhari affirmed that Balogun, ”through foresight, wisdom, and hard work, lived ahead of his time, by starting the First City Merchant Bank in 1983, which grew over the years, with branches across the country, and working assiduously for the take-off and success of the Nigerian Stock Exchange.”
The President noted the outpouring of testimonies on the life and times of the legendary banker, especially his towering influence in grooming many talented leaders in the sector, who had since set up their investment platforms, within and outside the country.
Buhari prayed that God would receive the soul of the departed, and comfort all his loved ones.
Meanwhile, Gov Babajide Sanwo-Olu of Lagos State, on Friday, said that late Otunba Subomi Balogun made a mark by contributing to the growth and development of the banking sector in Nigeria.
Balogun, the Olori Omoba of Ijebuland, Asiwaju of Ijebu Christians and founder of First City Monument Bank (FCMB), passed on at the age of 89 in London, England on Friday.
Sanwo-Olu, in a condolence message issued by his Chief Press Secretary, Mr Gboyega Akosile, described the late Balogun as a renowned technocrat, seasoned administrator and philanthropist.
The governor also commended the FCMB founder’s contribution to the economy of Nigeria as boardroom guru and employer of labour, especially as the founder of FCMB, among several other companies.
He commiserated with Governor Dapo Abiodun of Ogun State; the Awujale of Ijebu Kingdom, Oba Sikiru Adetona and the entire people of Ogun State, especially the indigenes of Ijebu, on the demise of their illustrious son and elder statesman.
Sanwo-Olu also sympathised with the Managing Director of FCMB, Mrs Yemisi Edun, and the entire management and staff of the financial institution.
”On behalf of the government and people of Lagos State, I want to express my sincere condolences to the family, friends and associates of Otunba Subomi Balogun, as well as management and staff of FCMB.
”I pray that God will grant him eternal rest and grant his immediate family, friends, associates, FCMB team, the banking industry and the people of Ogun State, the fortitude to bear the irreparable loss,” he said.
