JUST IN: FCMB founder Subomi Balogun is dead

Otunba Michael Subomi Balogun, founder of First City Monument Bank, FCMB, is dead.

He was aged 89.

He reportedly passed on in a London hospital after a brief illness.

Details surrounding his death remains sketchy.

A direct descendant of Oba Tunwase of Ijebu- Ode, Otunba Balogun until his death held the chieftaincy titles Otunba Tunwase of Ijebuland, Olori Omoba of Ijebuland and the Asiwaju of Ijebu Christians.

A philanthropist, Otunba Balogun built a National Pediatric Centre in Ijebu-Ode that he donated to University of Ibadan’s, University College Teaching Hospital.

This is a developing story.