Good Business!… Details As Subomi Balogun’s FCMB Gets Weekly Stream Of Revenue From Gov Dapo Abiodun

Charles Oyelesi

First City Monument Bank, the financial institution founded by Otunba Subomi Balogun has secured a good business with the administration of Governor Dapo Abiodun.

Societynow.ng confirmed that the deal sees FCMB getting a weekly stream of revenue from the Ogun State Government.

FCMB has been appointed as the banker for all the monies collected at all Parks and Garages in 20 local government areas of Ogun State.

And newly appointed Parks and Garages Manager Alhaji Akeem Abodunrin better known by the street name Iyeru has been mandated to make weekly payments of transport levies to the account of the Ogun State Parks and Garages Development Board with FCMB.

Iyeru’s appointment as Parks and Garages Manager comes on the heels of the suspension of the activities of the National Union of Road Transport Workers in the face of threats of a breakdown of law and order over supremacy tussle.

Iyeru was a major contender in the fight for control.

‘’The deal that sees all transport levies in Ogun state go to FCMB is a huge one for the bank, especially because it is a weekly inflow..it boosts the bank’s liquidity (cash at hand)’’ a source pointed out.

The levies involved include commercial cars, buses, tricycles, motorcycles, and related modes of transportation that the operations of the suspended NURTW covered.

Otunba Subomi Balogun, the FCMB founder is one of the firm believers in the administration of the Governor of Ogun State Dapo Abiodun.