Otunba Subomi Balogun takes another leap

While most Nigerians are scaling down on their lifestyle as they battle the general economic downturn in the country, the super-rich have far more glamorous ideas on their minds.

They are acquiring the latest wonders on wheels and building palatial mansions. Otunba Subomi Balogun, the power behind the financial institution First City Monument Bank – and First City Group has just completed a 13-floor high rise in Lagos. The structure is situated on Lugard Road, Ikoyi Lagos by Alfred Rewane Road. All the fittings are in place, even security cameras are already operational. And it is ready for rent, insiders confirmed. Further revelation has it that a price is already pegged for those interested in the facility.

The rent is, however, not in naira but in dollars. “It is $700 per square metre,” a source disclosed. The newly constructed structure is said to have a name, and it is Heritage Place.

Otunba Subomi is a man of proven immense wealth who is highly regarded, respected and honoured in the society. The honour bestowed on him does not, however, stem from the immense size of his wealth, but from the good use to which he has put this wealth for the service of humanity. Over the period, he has garnered many epithets and appellations, which present him as a colossus bestriding every aspects of national life.