As Ladi Balogun Goes Low Profile


The Group Chief Executive of FCMB Group Limited, the Holding Company of which First City Monument Bank is an arm, Ladi Balogun has gone off the radar in recent times leading people to wonder what could have become of the man whose doings used to be a constant source of material for newspapers and gossip blogs.

The son of FCMB founder, Otunba Subomi Balogun and Olórí Abimbola Balogun disappeared from the scene few days after stepping down as MD of FCMB. At the time, many thought he did so because he had other things on his plate to deal with or perhaps he was close to launching a new business that required his constant attention but it seems that is not the case. Ladi is in semi-retirement from both the business world and the social arena and observers would like to know why.

Reliable information gathered revealed that his scarcity on the fast lane might not be unconnected with the fallout from his alleged break-up with former wife Banke Balogun. It is no news that the two called it quits with each other. While some say it was due to irreconcilable differences that the marriage crashed, others insist Banke fled the union after becoming fed up with Ladi’s nonchalance and flirtations with other women

Recall that in his heyday, Ladi was the king of the fast lane. He spent money like it was going out of fashion and specialized in gulping down expensive wine after expensive wine. Ladies flocked around him like they would a shiny ornament and even guys didn’t mind sucking up to him as long as they gain a sizeable wad of Naira notes at the end of the day.

None of which exactly did much good for the stability of his marriage which many people prophesied was doomed from the start. But when the tape holding him and Banke together finally snapped in two, it could have affected Ladi more deeply than anyone thought it would, perhaps leading indirectly to him leaving FCMB.

Now Ladi is the five Naira note — fondly remembered but seldom seen nowadays. He seldom attends social events nor has he made any splash in the business world of late.