President Buhari mourns FCMB founder, Subomi Balogun

President Muhammadu Buhari says he shares in the grief of the business community, particularly the banking and investment sector, over the death of Subomi Balogun, founder of First City Monument Bank (FCMB).

Balogun passed away on Friday morning in a London hospital after an illness. He was 89 years old.

In a statement issued by Femi Adesina, special adviser to the president, Buhari condoled with family members, friends, and associates of the renowned business magnate.

Describing Balogun as an “illustrious citizen”, Buhari said his 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 also spoke on 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.

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