One might encounter struggles on the journey to lifelong achievements. It takes only a bold person, to keep pushing in the midst of storms. The journey to success is never an easy one, one must fail 99 times, to finally bag A WIN. The life of Balogun is one that would spring up enthusiasm in the younger generations. Life would often push us in directions that seems so daring, what would be our fate in those situations? Born on the 9th of March 1934, from Ijebu-Ode, Ogun State, Nigeria, is a Banker, Lawyer, Stockbroker and a Philanthropist. Otunba Balogun began his Education at the Igbobi Nigerian College of Arts, Science and Technology, Ibadan. He went further to study Law at the London School of Economics and Political Science. In London, Balogun regularly attended fellowships and had the opportunity to meet some noted Nigerians such as, Yakubu Gowon, before he got elected as the president of Nigeria. After bagging a degree in Law, he returned to Nigeria to join the Ministry of justice, Western Region. Balogun later got a role as a Parliamentary Counsel in the Federal ministry of Justice. He also became a member of the council of the Nigerian Stock Exchange.
He got married to Olori Abimbola Balogun and has 4 beautiful children.Due to his zeal and passion for success, he joined the Nigerian Industrial Development Bank (NIDB) where he served as Principal Counsel and Company secretary between the year 1966 and 1975.At the NIDB, his interest in investment banking led him to advocate for the establishment of merchant bank, sponsored by the NDIB. When ICON securities, a Merchant Banking outfit was established in 1973 as a subsidiary of NDIB, Balogun moved to ICON Ltd as a Director of Operations.When Balogun’s vision to be the head of ICON failed, he left the firm to go establish City Securities, a Stock broking and Issuing house. In the year 1979, he applied for a merchant banking licence to establish, First City Merchant Bank, which later got changed in 2001 to First City Monument Bank, in order to be a universal bank. When the operations of the bank took place in 1983, he established an Entrepreneurial culture at the new bank, unique as an owner managed bank in contrast to the government owned banks at the time. ( which is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA). Today FCMB has become a whole new face of the transaction line when it comes to saving, having over 7.1 million customers and more than 206 branches in Nigeria.Due to his benevolent attitude, he built a National Paediatric Centre in Ijebu-Ode to the University of Ibadan College Teaching Hospital. He has held the chieftaincy title ‘’Otunba Tunwase’’ and ‘’Olori Omoba’’ of Ijebuland and also ‘’Asiwaju’’ of Ijebu Christians. He has a net worth of about $5,000,000,000 (billion dollars). Over the years, Mr. Balogun has been a man of
notable traits and due to his diligence and love for the society, he has earned notable recognition and awards that merged his victory and works in the society. They include;*Knight of the Order of Merit of the Republic of Italy, 1994*Degree of Doctor of Laws (honoris causa) by University of Ibadan, 1998*Doctor of Science in Management Sciences (honoris causa) at Ogun State University, now Olabisi Onabanjo University, 1999*Commander of the Order of the Niger CON Balogun died on the 18th of May 2023, in London, United Kingdom, at aged 89. From a trained Lawyer, to a stockbroker and finally becoming a banking Mogul. He has shown what it takes to become successful. Perseverance and Passion are two important key roles, when it comes to making it big in the society.
Wonderful piece. I’m thrilled to read of such a great personality.