FCMB Founder Subomi Balogun Positions Son, Ladi As Next Awujale
The investigation conducted by societynow.ng revealed that the open declaration of characters to look for in determining his successor by Awujale of Ijebuland, Oba Sikiru Adetona is not new to stakeholders in his domain.
Insiders disclosed that those who should know have been informed before now and stealth moves were already on by interested parties to fill the void, particularly the ruling house in line to present a successor.
Societynow.ng learned that leading the pack is Otunba Subomi Balogun, the founder of First City Monument Bank(FCMB).
‘’It is Otunba’s ruling house that is next in line to present the Awujale’’ a source stated.
Societynow.ng learned that based on Awujale (Oba) Adetona’s declaration of the race to determine a successor open, Otunba Balogun has initiated consultations with members of his ruling house to enable a consensus on the candidate to be put forward at the proper time.
‘’This is especially based Awujale Adetona’s urging that if the ruling house in line fails to present a worthy candidate, the next in line should seize the opportunity in the search for who is fit to rule’’ societynow.ng learned.
Insiders disclosed to societynow.ng that the FCMB founder is mulling on how to present his son Ladi Balogun as the candidate of his ruling house for the throne of the Awujale.
Ladi is the Group Managing Director/ Chief Executive Officer of First City Monument Group, the parent company of FCMB.
The younger Balogun assumed the position on March 2017 after the maximum tenure of 10 years as the CEO of First City Monument Bank.
FCMB transformed a merchant bank to one of the top 10 commercial banks in Nigeria under Ladi Balogun’s watch.
‘’In this era of young professionals taking the thrones, I think Ladi fits the bill. He is young, has a good pedigree and has made a name for himself and from what I gathered some others share the same opinion but the truth is that the throne of the Awujale, especially based on the respect brought to bear by the present occupier, is too revered and sought after to be a walkover for anybody. No matter how rich or influential’’ an inside asserted.