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Otunba Michael Olasubomi “Subomi” Balogun: Pioneer of Modern Nigerian Banking and Philanthropy

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Otunba Michael Olasubomi Balogun, CON (9 March 1934 – 18 May 2023), was a visionary banker, entrepreneur, and philanthropist whose legacy reshaped Nigeria’s financial sector and inspired generations of business leaders.

Early Life and Education

Born in Ijebu-Ode, Ogun State, Balogun came from Ijebu heritage and was nurtured in an environment that valued both education and entrepreneurial aspiration. He attended Igbobi College, Lagos, followed by the London School of Economics, where he studied law. He was called to the English Bar in December 1959.

Path into Banking

After returning to Nigeria, Balogun initially worked in the public legal service, then transitioned into the financial sector:

He joined the Nigerian Industrial Development Bank (NIDB).

He served as Director of Operations at ICON Securities, a merchant banking subsidiary of NIDB.

In 1977, he founded City Securities Limited, a stock-broking and issuing house.

Founding FCMB and Banking Milestones

Balogun’s defining achievement was founding First City Merchant Bank (FCMB):

He applied for the merchant banking licence in 1979, though operations formally began in 1983 after he was granted the licence.

FCMB was celebrated as “the first bank in Nigeria established without government or foreign backing.”

In 2001, FCMB converted from a merchant bank to a universal bank and changed its name from “First City Merchant Bank” to First City Monument Bank Limited.

The bank became a public company and was listed on the Nigerian Stock Exchange (NSE) by introduction in December 2004.

Honors, Traditional Titles, and Philanthropy

He held the national honour Commander of the Order of the Niger (CON) in recognition of his contribution to banking.

Among his many traditional titles, Balogun was Otunba Tunwase of Ijebuland, Olori Omo-oba of Ijebuland, and held other leadership roles connecting him with Ijebu heritage.

His philanthropic footprint was substantial. He established the Otunba Tunwase Foundation, which supports healthcare, education, and welfare. Notably, he built the Otunba Tunwase National Paediatric Centre in Ijebu-Ode, which he donated in 2013 to the University of Ibadan and University College Hospital (UCH) Ibadan.

Legacy

Otunba Subomi Balogun passed away in London on 18 May 2023, but his impact remains deeply felt:

FCMB Group remains one of Nigeria’s influential banking and financial services institutions, offering retail, corporate, and asset management services.

His model of creating a wholly Nigerian bank without state or foreign backing challenged norms and demonstrated what local entrepreneurship could achieve.

His leadership blended business success with social responsibility, especially in his home region of Ijebu-Ode. His life remains a reference point for Nigerian banking reform, private-sector leadership, and philanthropy.

Sources:
FCMB Official History, “About FCMB Group Plc.”
“Otunba Olasubomi Subomi Balogun, CON (1934-2023).” The Nation, 2023.
Dawn Commission, “Otunba Subomi Balogun Dies at 89.”

Otunba Subomi Balogun stands as an exemplar of Nigeria’s private-sector pioneers—visionary not just in creating institutions, but in ensuring those institutions served broader social good.

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Late Actress Rebecca Adebimpe Adekola a.k.a Ireti

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Rebecca Adebimpe Adekola a.k.a Ireti | was One of Nigerian Actress That Should Not Be Forgotten In The HISTORY Of Nollywood Film Industry. One of generation of actors who made home videos popular in the 1990s

Aunty Ireti was born in Abeokuta, Ogun State, where she also grew up. Aunty Ireti was a producer, film writer, director and an outstanding actress. Unknown to many, her younger relative, Opeyemi Adekola(Not Odunlade)is also an actor and was inspired to take to the thespian art because of his latè aunty. While speaking with Naijarchives, Mr. Opeyemi Ohiomare Adekola explained that the làte Ireti and his own dad were cousins. Mr. Adekola also revealed to us that while both Odunlade Adekola and their family are both from Oyo State, they hail from different parts: Ireti’s own are from Ogbomosho while Odunlade Adekola is from Otun Ekiti. I guess that lays to rest the popular rum0ur that Odunlade Adekola is Ireti’s younger brother. While an actress, the late Ireti was known for starring in many fl|cks alongside Taiwo Hassan aka Ogogo

Following her d£ath, there was a sp0ntaneous outpouring of grief across the nation. On the 30th September, 2002, her body in a glistening white c0ffin was on display for her last public appearance at the National Theatre, Iganmu Lagos before her ßurial. Ireti mentored many actress in her lifetime, grooming them to become stars in their own right, one of whom is Bisi-Ibidapo Obe aka Omo Logba Logba. Ireti was also the role model for Ibironke Ojo aka Ronke Oshodi-Oke.

HOW DID SHE GET THE NAME ‘IRETI’?

In 1993, Jide Kosoko released a movie titled Asiri Nla and in it, she acted the role of Ireti, and that was how the name stuck.

HER D£ATH

Rebecca Adebimpe Adekola di£d after a brief illn£ss due to some c0mplications susp£cted to be from typh0id f£ver. She gave up the gh0st at Unity Hospital, a private medical center in Surulere, Lagos State
This writeup(Caption) is from Ayeni Abayomi page

In October 2012, ten years after she di£d, the National Association of Nigerian Theatre Arts Practitioners (NANTAP) decided to launch the Ireti Adekola Foundation (IAF) at the National Theatre, Iganmu, Lagos to imm0rtalize her name. The foundation was established to take care of single mothers and mentor upcoming and talented actors and actresses.

In the 1990s before the likes of Jenifa and the rest, Nigerian actress, Rebecca Adebimpe Adekola graced the screen of millions across the nation, especially lovers of Yoruba movies. Popularly known as Ireti, she dazzled many with her acting skills until her d£ath on Friday, 27th September, 2002.

Some of the movie She got starred in includes👇

-IKE OWO
-AGBA AKIN
-OLAONIRAN
-23/24 LORO ILE AYE
-AYE AWA OBINRIN (the last movie she appeared in before her d£mise)

Rest well Legend

You’re a screen g0ddess and one of the few most s0ught after relatively younger actresses who made Nollywood attractive in the late 1990s. You are part of the generation of actors who made home videos popular in the 1990s.

©️Ayeni Abayomi

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Toyin Adegbola: The Enduring Star of Yoruba Cinema

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From “Asewo to Re Mecca” to cultural icon – the remarkable journey of one of Nollywood’s most beloved actresses

Early Life and Family Background

Toyin Adegbola was born on December 28, 1961, in Osun State, Nigeria. She hails from a family with deep creative roots, being the cousin of the legendary actor and filmmaker Adeyemi Afolayan (Ade Love) and his children — among them Kunle Afolayan, Gabriel Afolayan, and Moji Afolayan, all prominent figures in Nigerian cinema.

Growing up in southwestern Nigeria, Toyin’s early exposure to Yoruba culture and storytelling inspired her passion for performance. Before venturing into acting, she worked briefly as a television broadcaster and teacher, experiences that shaped her confidence and communication skills.

Rise to Stardom

Toyin Adegbola began her acting career in 1984, marking her debut in the Yoruba-language sector of Nollywood. She gained national fame after starring in the classic Yoruba film Asewo to Re Mecca (translated as The Prostitute Who Went to Mecca), which earned her the enduring nickname “Toyin Asewo to Re Mecca.”

The film, released during a period when Yoruba cinema was expanding rapidly, portrayed themes of repentance, morality, and redemption, resonating deeply with audiences across Nigeria. Her ability to bring authenticity and emotional depth to complex characters quickly made her one of the most recognisable faces in the industry.

Over the years, she has featured in hundreds of Yoruba films, spanning genres from traditional folklore to contemporary drama. Some of her notable works include:

Deadly Affair (1995)

Irapada (2006)

Arojinle (2018)

Arinola, Alaanu Mi, and Temidire

Through these roles, Toyin Adegbola established herself as a versatile actress, capable of interpreting both comedic and deeply emotional characters.

Beyond Acting: Producer, Director, and Cultural Ambassador

In addition to her acting career, Toyin Adegbola has worked as a producer and director, contributing to the growth of Yoruba-language cinema and mentoring younger filmmakers. Her deep understanding of cultural nuances allows her to bring authenticity to her productions, preserving Yoruba values and traditions through storytelling.

In 2016, she was conferred with the chieftaincy title of Yeye Amuludun of Osogboland by the Ataoja of Osogbo, Oba Jimoh Olanipekun Larooye II. The title, meaning “Mother of Entertainment”, recognised her outstanding contributions to Nigeria’s entertainment industry and her role in promoting Yoruba culture globally.

Legacy and Influence

Toyin Adegbola’s influence extends far beyond the screen. She represents a generation of Nigerian actresses who helped shape the identity of Yoruba cinema before the digital boom of Nollywood. Her continued presence in film and television demonstrates resilience, adaptability, and a commitment to artistic excellence.

She has also served in various capacities within industry associations, advocating for the welfare of actors and supporting emerging talents. In interviews, she has often spoken about the importance of discipline, humility, and cultural pride for those aspiring to build lasting careers in the entertainment sector.

Personal Life

Toyin Adegbola is a mother and grandmother, often described as warm and deeply spiritual. She balances her creative pursuits with community involvement and philanthropic activities, particularly in Osun State. Despite facing personal and professional challenges, she remains one of the most respected figures in Nigerian entertainment.

References

Vanguard Nigeria. (2016). Toyin Adegbola Bags Chieftaincy Title in Osogbo.

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Patricia Olubunmi Etteh: Nigeria’s First Female Speaker of the House of Representatives

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A trailblazer in Nigerian politics and the first woman to lead the country’s House of Representatives

Patricia Olubunmi Etteh remains one of the most notable figures in Nigeria’s democratic history, recognised as the first woman to serve as Speaker of the House of Representatives. Her appointment in June 2007 marked a significant moment for women’s representation in Nigerian politics — a symbolic breakthrough that inspired many across the nation.

Born on August 17, 1953, in Ikire, Osun State, Patricia Etteh trained and worked as a beauty therapist before venturing into politics. She attended the University of Abuja, where she earned a Law degree, demonstrating her commitment to self-development and governance.

Etteh began her political journey as a member of the Alliance for Democracy (AD) and was elected to the House of Representatives in 1999, representing Ayedaade/Isokan/Irewole Federal Constituency of Osun State. Her charisma, grassroots appeal, and advocacy for women’s inclusion in leadership quickly made her a respected voice in the legislature.

In June 2007, she made history when she was elected Speaker of the 6th House of Representatives, becoming the first and only woman to occupy that position in Nigeria’s history. Her emergence was seen as a victory for gender equality and a testament to her political influence within the People’s Democratic Party (PDP).

However, her tenure was short-lived. In October 2007, Etteh faced allegations of financial misconduct related to the renovation of her official residence and the purchase of vehicles for the National Assembly. Though she denied any wrongdoing and maintained that all processes were duly approved, public and political pressure led to her resignation after just five months in office.

Despite the controversy, Patricia Etteh’s impact on Nigerian politics cannot be dismissed. Her rise to the position of Speaker shattered long-standing gender barriers, paving the way for more women to aspire to top political offices. Over the years, she has remained active in political and social advocacy, supporting initiatives that promote women’s empowerment and participation in governance.

Etteh’s story is not merely one of power and controversy — it is a narrative of courage, ambition, and the pursuit of equality in a male-dominated political landscape. As a Yoruba woman from Osun State, her achievement continues to resonate as a source of pride in Nigeria’s democratic history.

Her portrait — often used in educational and historical references — serves as a reminder of the progress made and the journey yet to come for Nigerian women in politics.

References:

National Assembly of Nigeria archives

Daily Trust historical profiles (2007)

Premium Times Nigeria political retrospectives

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