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Showing posts with the label Photo:Subomi Balogun-insert is Ladi Balogun

FCMB Posts Reduced Profit

FCMB Group Plc on Wednesday declared a profit after tax of N8.3bn for the half-year ended June 30, 2015, 13 per cent lower than the N9.576bn it made in the same period last year. Although the group grew its gross earnings by 11 per cent from N69.620bn to N77.353bn in the review period, higher expenses led its profit before tax to dip by 14 per cent from N11.140bn to N9.565bn. FCMB’s financial statements, which it filed with the Nigerian Stock

Zumax Nigeria drags FCMB to Court over N1 Bbillion Monumental Fraud

Zumax Nigeria has dragged FCMB to court over improper management of it account and the diversion of N1 Billion,resulting in what it called monumental fraud. There have been amazing revelations in the Lagos State High Court, where FCMB is currently defending allegations that it is responsible for the massive defrauding of a corporate customer.  (The suit no. in the


Reported by Niyi Tabiti Otunba Subomi Balogun the group chairman of one Nigerian’s leading bank, First City Monument Bank (FCMB) has once again described his son, Ladi as a man after his heart. The septuagenarian made this known at the 9th sharing experience series of the Harvard Business School Association of Nigeria, which took place on Wednesday 26 November 2008 in Lagos, Nigeria. As a recap, Subomi has never hidden his likeness for Ladi whom he described as a perfect for his shoes when he retired from active service in the bank. At the event, Balogun disclosed that Ladi did not climb to the top in one day because the bank was founded by his father; rather he was a man who learnt the rope and made a name for himself in the financial sector. Balogun said, Ladi schooled and worked in financial institutions abroad yet he was prepared to learn when he started work in FCMB. watched as guests at the event applauded Ladi who was also present. It goes