Subomi Balogun, the founder of FCMB, has passed away.

Friday morning, he passed away in London.

In March, Mr. Balogun became 89 years old.

He graduated from Igbobi College and went on to study law at the London School of Economics.

Before the January 1966 coup, the dead practiced law first at the federal ministry of justice and later at the regional justice ministry.

Mr. Balogun entered the banking industry and enlisted in the Nigerian Industrial Development Bank (NIDB) following the coup.

As director of operations, he founded Icon Securities, a division of NIDB that specialized in merchant banking. Before FCMB was founded in 1979, he worked for a number of businesses in the fields of commerce and economics.