•Otunba SUBOMI BALOGUN, FCMB Group Founder
The founder of the FCMB Group, Otunba Michael Olasubomi Balogun on Tuesday 3rd January, 2023 hosted the entire Christians in Ijebuland to his annual thanksgiving programme, Adura Odun.
Being the Asiwaju Onigbagbo (head of Ijebu Christians), Otunba Balogun has been forthcoming in hosting the annual event which is always a massive gathering of the believers held at the country home of the Ijebu high chief. It was done solely to create the avenue for Christians across Ijebuland to come together to rejoice, thank God and pray for His benevolence upon them during the new year.
This year’s event did not fall short of expectation as the elegant and lovely edifice; the Otunba Tunwase’s Court received a huge number of guests who trooped in to take part in the annual gathering. The event was well attended by notable politicians, statesmen, royal fathers as well as clerics who came from far and near to bless the host, his guests and the people.
Immediately after the programme, the octogenarian who is almost 90 had a media chat with members of the press where he revealed a lot about his long years in the banking industry and why he has not retired from active business even at 89. Below are the excerpts:
How do you feel holding the Adura Odun this year after having a break for about 2 years?
We should thank God. What was happening was called COVID. Any of us who survived the pandemic should first of all raise up our hands and be thanking God that he or she was not a victim. It was a bit traumatic and it was only recently that I stopped putting on the nose mask. So, let’s continue to thank God for saving us from the pandemic and giving us a good life as long as we want. That’s my immediate reaction. I think we should all thank God. In a desert situation, the Lord has provided for all of us. We can all lift up our hands in giving thanks to God.
Looking at how FCMB has run over the years, how do you feel?
As far as my own institution is concerned, I am thanking God immensely because it is appearing that annually, I seem to be having additional levels that God has done for me in FCMB. When I look round, I’m the oldest banker still around and taking part in what is happening. And that is an amazing grace from the almighty lord. For the fact that I’m 89 and going to 90. By the grace of God, I’m going to live beyond 90. All I do is to be close to my God and the prayer warrior. I love that a lot. Some friends usually joke with me that I can’t say two or three words without referring to my God. It’s my own understanding of what the good Lord has done to me, my family and my institution. If I look about 45 years ago, since we have been listed, I can turn round and thank my God. Not many of those of us who founded financial institutions are still remaining active even as I move close to 90 and looking forward to 100. It’s an amazing grace of God. So, I can only talk about my own institution. What is unique about it is that I started banking about 60 years ago. For 15 years I was working for other people’s bank. And in the last 45 years, I have been given the privilege by the Almighty God, the ever gracious to be involved in running a bank which I founded singlehandedly with the grace of the Almighty Lord. And I also thank God that even at close to 90, I’m still very involved in what our banks are doing. All I want to be doing these days is just to be thanking God. He has been marvelous to me as well as what belongs to me. Much as I praise God, I try many times to make individuals just like God has done to many of you in your different fields.
2004/2005/2006 were turbulent years for the banking sector due to the 25 billion capitalization benchmark, how were you able to scale through it?
If anybody had underestimated me or my institution, maybe the person is not close to God enough. As I said, I talk so much about God and I thank him so much for what he has done for me. When what you are talking about came up, many people thought certain banks would be wiped off but somehow, I had the belief that my God has greater and happier news for me. Having around me professionals and putting all my desires before my God, I have contributed a lot to what I have done. It’s an amazing grace of God. What God has done for me is very unique in this country. If you are doing well, people will like to talk about you and say that Oh! He talks only of God as if God is for him alone. I will not change my attitude of ascribing everything that I have achieved in life to the Almighty God because he has been exceptionally kind to me. I started as a lawyer. I had a degree in law alone. But the Almighty God found a place for me in Banking. I went into banking originally as company secretary and legal adviser. That’s about 50+ years ago. I was being described by the Nigerian news media, ‘a colossus of the capital market.’ My company was the first wholly owned Nigerian bank.
God has sustained us up to now. When I was serving, apart from attacks and travails, I was still on the saddle, I made my third son, Ladipupo, the head of the bank and I became chairman. After sometime I said I have had enough, I appointed one expatriate I had as Group Managing Director. At the time I wanted to move after my 70th birthday, I promoted the expatriate, Jonathan Long to the Chairman and I made my son the Managing Director. When I looked round, I said it was the amazing grace of the Almighty God. Today, my son is the Group Chief Executive. He has about 8 finance companies under him. And I see him moving in the right way. I have nearly turned 90. I still go to the office 3 days a week. And all I can do is to praise and to thank God.
At almost 90, how do you keep fit?
It is the grace of the Almighty Lord. I still swim. I have a swimming pool in my home. Then I pray to God a lot. You are asking a question about what also baffles me. Although whenever I wear the princely Agbada, I carry the walking stick of royalty. But most of the time, you would see that I try to walk on my own. My mental faculty is still reliable. And I still read. I still do many things. All of them I ascribe to the grace of the Almighty God.
It’s been God all the way but is there any form of nutrition regimen you keep to that makes you fit at 90?
I don’t diet, I eat anything. What God has done for me is amazing. I pray a lot; I swim a lot then I try to walk on my own with my boy around me. Here at the back, we have about 30 acres of land for farming. I walk from that place to the farm and come back. I still wear my suit. I don’t even enjoy wearing Agbada in my office.
With the track record you have pulled over the years, how do you manage to remain discreet?
I have written a few books. My first autobiography says; The Cross; that I carried my cross, The Triumph and The Crown; the crown of glory. It didn’t just happen. Somehow, I imbibed the habit of always worshipping and talking to my God. And that was one of the reasons why the people in Ijebu decided to make me the Asiwaju of Ijebu Christians. When they did, there were a lot of older people. I was a bit nervous. I even cried on the day they were installing me, while my wife, the congregation were singing, praising my God. One of the things that have helped me in life totally is that everything in my life, I have committed them to God. Anywhere I go, I try to think of what God has done for me. And that helped me to modulate any possible arrogance. I’m approachable. Then as you have remarked, I’m always talking of God because the good Lord has done very well for me. So, God has been my guide, my companion and my everything. I admit that I talk of God a lot. a friend says that if you talk to him, he would be talking about God as if that God is his own alone. They have said that to me. But I have really focused on my God and I thank him for what he has done for me.
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