Otunba Michael Subomi Balogun, the founder of First City Monument Bank, FCMB, is said to have died at the age of 89.
Balogun died on Friday morning in a London hospital, according to sources.
In March, the late Balogun would have turned 89. He was an Igbobi College alumnus who studied law at the London School of Economics and worked as a lawyer in the regional justice ministry and later the federal ministry of justice until the January 1966 coup.
Following the coup, Mr Balogun entered the banking industry, joining the Nigerian Industrial Development Bank (NIDB).
May his spirit find peace.