OTUNBA Dr. M. O. Balogun CON

THE OTUNBA TUNWASE OF IJEBU

OLORI OMO-OBA OF IJEBU

Born at Ijebu-Ode in Ogun State on 9th March 1934, Otunba Balogun had his secondary education at Igbobi College, Yaba, Lagos where he passed out with Cambridge School Certificate in Grade One in 1952. He was a Secondary School teacher for one year before proceeding to the London School of Economics (LSE) to read Law in 1956. He graduated from LSE with Second Class Honours Degree in June, 1959 and was called to the English Bar in December, 1959. Under the sponsorship of the then Western Regional Government, he was the first Nigerian to receive special training in Legal Drafting in Whitehall and the City of London with particular specialization in financial legislation, instruments and agreements. He served as a Crown Counsel in both the Ministry of Justice of the then Western Nigeria and subsequently as Assistant Parliamentary Counsel in the Federal Ministry of Justice in Lagos. For nine years, between 1966 and 1975, he was the first Principal Counsel and Company Secretary to the Nigerian Industrial Development Bank (NIDB). In 1973, he was appointed the Director in charge of the operations of Icon Securities Limited, a wholly owned subsidiary of NIDB. Following the establishment of Icon Limited (Merchant Bankers), this quintessential personality was seconded to that bank as an Executive Director. During this time, he represented Icon on the Council of the Nigerian Stock Exchange (NSE) and he distinguished himself in the handling of many capital issues on the Exchange. He resigned in December 1977 to set up his own company, City Securities Limited, which was the first institution in Nigeria to combine Issuing House and Stockbroking businesses under one roof. In 1979, as a natural sequence to his outstanding performances in the Nigerian Capital and Money Markets, he single-handedly decided to set up the first wholly Nigerian owned merchant bank, entirely conceived and promoted by him and this he christened “First City Merchant Bank Limited”. Under his leadership as Chairman & Chief Executive, First City Merchant Bank Limited (FCMB) in its first twenty years of existence, experienced steady and un-interrupted growth and earned national and international recognition as market leaders in investment banking and capital market services. In October 2002, he was elevated to the position of Group Chairman, First City Group Limited

A few years ago, he donated a Police Post at Imoru in Ijebu-Ode District and he also built a Civic Centre named “OTUNBA TUNWASE CIVIC CENTRE” for the Ijebu-Ode Club.  He has also provided street lighting for the street named after his ancestor, Oba Adesimbo, Tunwase I, known as “Tunwase Drive”.

Under “Otunba Tunwase Foundation”, the “OTUNBA TUNWASE NATIONAL PAEDIATRIC CENTRE (OTNPC)” was constructed and handed over to the University of Ibadan to cater for the health care, survival and welfare of the Nigerian.

In January, 1994, the President of the Republic of Italy conferred on him the prestigious honour of “Cavaliere” dell’Ordine “Al Merito della Republica Italiana” which means, “Knight of the Order of Merit of the Republic of Italy”. In November 2000, he was conferred with the National Honours of “Commander of the Order of the Niger” by the President and Commander in Chief of the Armed Forces of the Federal Republic of Nigeria.

He was installed The Olori Omo-Oba Akile Ijebu by His Royal Majesty, Oba Dr. S. K. Adetona, Ogbagba II, the Awujale and Paramount Ruler of Ijebuland. He is also the Asiwaju of Ijebu Christians and the Patron of the Ijebu Development Association. On June 22, 2013, the Fusengbuwa Ruling House of Ijebu presented Otunba Balogun as the Head of the Ruling House to the Awujale of Ijebuland.

He is a Fellow of the Chartered Institute of Stockbrokers, Fellow of the Nigerian Institute of Management, Fellow Chartered Institute of Bankers, Former Deputy President, and now Life Vice President of the Nigerian British Chamber of Commerce, Council Member of the Lagos Chamber of Commerce and Industry. He is also Chairman, Primrose Investments Limited; Chairman, Bluechip Holdings Limited; Chairman, Swiftdrill (Nigeria) Limited; Chairman, Primrose Properties Investments Limited and Director of a number of other companies.

He is married to Olori Abimbola Adetutu Balogun (nee Ayoola), The Yeye Olofin of Ijebu-Ife, The Yeye Tunwase of Ijebu, and The Yeye Oba of Ode Remo.  They have four sons who are all accomplished professionals in Finance, Stockbroking, Banking and the Legal practice.

He is also the Baba Oba of Ijebu Ife by the Ajalorun of Ijebu Ife and the Asalu-Oba of Ijebu Mushin.