The Nigerian Exchange Ltd. (NGX), Chartered Institute of Stockbrokers (CIS), and other stakeholders held a mock-trading and closing gong ceremony to honour Subomi Balogun, founder of FCMB Group.

Speaking at the ceremony on Monday in Lagos, NGX CEO Temi Popoola said, “We are here to pay tribute to someone whom without, we really cannot talk about our markets, and I am sure that there are many careers here that he had helped shaped and mine is a good example. We are very grateful and assure them that they can count on our support going forward as the family continues to drive their strategic goals.”

The NGX Group chair, Umaru Kwairanga, noted that the deceased played a significant role in developing investment banking in Nigeria.

Kwairanga said the deceased had laid the foundation for many of the nation’s first equity offerings while working at ICON Securities.

“He left a significant legacy and a number of monuments that would serve as evidence of his greatness well into the future,” said Mr Kwairanga.

NGX Group CEO, Oscar Onyema, said the capital market took solace in the fact that Balogun lived a great life and left a huge legacy that the market community would continue to talk about for several years.

“Balogun ensured that he looked out for the best interests of the capital market, especially during his tenure on the council of the Exchange years ago,” Mr Onyema said.

The CIS president, Oluwole Adeosun, said the market was celebrating a colossus.

Responding, the deceased’s son, Bolaji Balogun, Group CEO of Chapel Hill Denham, thanked the capital market for honouring his father.

Ladi Balogun, the Group CEO of FCMB Group, also thanked the market stakeholders for organising the ceremony, noting that it would encourage the family to carry on with the deceased’s legacy.

“Whilst this has been a very emotional time for our family, the way our father has been honoured by the exchange, CIS and the entire country has truly inspired us,” stated the FCMB boss.

(NAN)