Subomi Balogun was a symbol of the Nigerian dream

Symbols of consolation, they had, by their deeds across time, reverently and consistently lifted the banners of genuine brotherhood, business integrity, dexterity, true statesmanship, exemplary industry, perseverance, and every other value of importance. And by a mixture of sheer grit and hard work, while steering their business brands, they became creators of employment, bastions of treasured values, crusaders of sustainability and worthy legacies, incubators of financial substances, as well as society’s solid standard references for success and notable history makers.

Here again, you cannot but agree that divinity was at work for him, ensuring the opening of another door upon the closing of one. Rather than Otiti, it was former Vice President, now late Chief Alex Ekwueme, who had been a friend well before the civil war, that God positioned for him and used. Balogun and his wife had resolved to ‘waylay’ Ekwueme at a church service. “At the Cathedral Church, my wife and I planned that when Alex was being led-out that, I would grab his cloth, and my wife would grab that of his wife. When we made the moves, the security people with them thought something was wrong with us, but Alex looked back and said,’Subomi, Bimbola, what is happening?’
 
“Do you know what I told him? I said, ‘Mr. Vice President, please why the delay in approving for me, a banking license?’ So, Alex said we should come to see him, and he assured me that by the following Thursday, the process would have been completed, and I would get my license. By 3:00 pm on that Thursday, a minister phoned me, and said, ‘Egbon (Big Brother), congratulations, the Vice President says your license has been approved’. True friendship, across ethnic lines had spoken, a friendship that had taken strong roots long before Otunba’s moment of need.

Otunba Balogun himself emphasised that it was an evident example of reciprocity, and the lesson learnt was increasingly apparent. He recalled: “The first house I built in my life in Apapa, Alex had the next building to mine. As soon as the war started, some pool players took over the house and converted it to a gambling house. They would be there until midnight, but to protect my own house from being burgled by those people, I had to arrange for the police to evacuate them. And having done that, I renovated the house and rented it out to a lady from the East, and I was receiving the rent.  When the war ended, Alex Ekwueme returned to Lagos and came to see me. After the exchange of pleasantries, I went to my room and brought out a big envelope.”
 
Otunba Balogun narrated: “In those days, we didn’t use cheques much, it was all cash. So, I gave him the money. I told him I renovated his house, rented it out and that was the rent I had collected. Alex looked at me, and in utter disbelief said, “Mike, I am very grateful”. It is this kind of reciprocity that only men of integrity are made of. It can be imagined what could have happened, if Otunba had not, before then, shown himself trustworthy. Perhaps, his aspiration to birth a bank would have remained a pipe dream. On the other hand, having been tested, he became trusted, and when he needed help, to establish a bank, fulfilling the requirements, help came readily and easily.

Today, several other companies have sprouted from the brand, and they include: FCMB Group Plc, subsidiaries such as First City Monument Bank (FCMB), CSL Stockbrokers, FCMB Capital Markets, First City Asset Management Limited (FCAM), Credit Direct Limited, FCMB Microfinance Bank and FCMB UK. There are also, FCMB Pensions Limited and FCMB Trustees Limited.