Subomi Balogun, FCMB founder refutes positioning son as next Awujale


…says Ladi is much busier growing his banking carrier

By Bankole Taiwo, Abeokuta

Otunba Olasubomi Balogun, the Olori Omoba of Ijebuland and founder of First City Monument Bank (FCMB) has debunked the report trending on social media that as the head of Fusengbuwa family, one of the largest ruling houses in Ijebuland, he had all along been positioning his son, Ladi Balogun, Group Chief Executive Officer of FCMB to be the next Awujale and paramount ruler of Ijebuland.

Recall that the Awujale and Paramount Ruler of Ijebuland, Oba Sikiru Kayode Adetona, had warned the Kingmakers at the 2019 Ojude- Oba Festival not to politicise selection of his successor or allow moneybags to hijack the selection process.

The highly revered first class ruler had disclosed that competence and the ability to further consolidate on the giant strides recorded across Ijebuland during his 59 years reign should be the ultimate determinant for the next Awujale and not anything else.

This statement made by Oba Sikiru Kayode Adetona was reported to have sparked off series of debates among the sons and daughters of Ijebuland on who becomes the next Awujale.

This prompted various handlers of news platforms on social media to come up with different news items, claiming that the founder of First City Monument Bank (FCMB) and Olori Ebi Fusengbuwa Ruling House, Olasubomi Balogun had began positioning his son, Ladi Balogun, who is Group Chief Executive Officer of FCMB to replace the current Awujale.

Speaking on phone with our correspondent as regards the rumour making round on the purported positioning of Ladi Balogun to replace the current Awujale, the business mogul expressed dissatisfaction over the mischief being orchestrated by those he called enemies of Awujale’s stool, the Ijebus and Ijebuland.

The Olori Oba said it was callous, inhuman and ungodly to wish your fellow human dead as being demonstrated by those behind the mischief, saying it was a taboo in Yorubaland to be scheming for Oba’s successor when a reigning monarch is still hale and hearty, just as he added that Ladi, his son, is too busy at FCMB at present, for him to be planning to succeed Awujale.

He said, “I am most disappointed with the writers and those that are fueling the rumour that I am plotting my son – Oladipupo Balogun, who is handling the affairs of my business, to be the next Awujale of Ijebuland, while the Alaiyeluwa is still very much alive.

“We all know that Awujale Oba Adetona and I are friend, both of us are still alive, if Awujale could make a pronouncement, does that mean that they should drag my name to sell their stories?

“I happen to be the Olori Omoba, and providence has placed me in a situation in which everybody will expect me to be close to the Awujale and be supportive of whatever he is doing by way of our culture and tradition.

“Secondly, people know me as a very senior member of royalty in Ijebuland, apart from being the Olori Omoba, I am the Olori Ebi of one of the largest ruling houses in Ijebuland. So, I can confirm that such reports are baseless, mischievous, outright falsehood and should be treated as such by members of the public”.


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