Otunba Subomi Balogun’s special Birthday gift


It is an incontestable fact that legendary banker and businessman, Otunba Subomi Balogun, loves to mark his birthdays in a grand style. His birthday is one of the things dear to his heart.

On his birthday, he loves to present himself a wonderful gift. So also people close to him never allow the day to go without showering encomiums on him.
Interestingly, Spy Glass gathered that the billionaire recently got a special gift that he will treasure for the rest of his life.  On the eve of his 84th birthday a few weeks ago, the Chairman of First City Monument Bank, FCMB, won a long-lasting legal tussle, which has been a ‘headache of sorts for him’.
It was gathered that a High Court in Ogun State struck out the suit challenging his status as the head of the Fusengbuwa ruling house, one of the ruling houses in Ijebu-Ode, where the Awujale of Ijebuland is by tradition selected.

The legal tussle that has dragged for years was instituted by a former national President, Institute of the Chartered Accountants of Nigeria, ICAN, Otunba Abdul-Lateef Owoyemi, and four other claimants – Prince Rasaq Akeju, Prince Yisau Ajidagba, Prince Adeleke Adeyemi and one other- on behalf of themselves and the  Fusengbuwa ruling house.
Justice Aderonke Asenuga of an Ijebu Ode High Court, while delivering her judgment, said the court relied on the evidence given by the Awujale and the paramount ruler of Ijebuland, Oba Kayode Sikiru Adetona, and gave the verdict in favour of Balogun who was the first defendant in the suit.
It was indeed a victory dance for the billionaire businessman.

When you mention courage, tenacity, inventiveness and brilliance, you are talking about Otunba Subomi Micheal Balogun, a major colossus in Nigeria’s money market.
Although he trained as a lawyer, he came into financial sector just when the country was seriously in need of top intellectuals like him. It didn’t take him that long to showcase the kind of stuff he is made of, as he reshaped the industry and became a household name.
Today, the history of business in Nigeria will not be complete without the Ijebu-Ode-born businessman’s name appearing many times – he was part of those who rewrote the story of the country’s financial sector and launched it into the global map.
Those close to the man known as ‘Baron’ in his chosen sector claim that his abiding philosophy is, “All things are possible if you believe.’’