FBN Holdings: Court to determine status of 11th AGM


FBN HoldingsThe Federal High Court in Lagos will on Thursday, commence hearing of proceedings to determine the status of the 11th Annual General Meeting of First Bank Holdings Plc.

Justice Akintayo Aluko will hear arguments from counsel to the parties, following the application of the plaintiff in the case, to commence contempt proceedings against the company and its board of directors.

On July 15, 2022, the Court granted an order that stopped First Bank Holding Plc from implementing all the decisions taken at its 10th Annual General Meeting held on June 20, 2022, at Oriental Hotel, Lagos.

First Bank Holdings Plc is the controlling owner of First Bank of Nigeria Plc.

The respondents in the suit are First Bank Holdings Plc, the Chairman of the Board of Directors, Alhaji Ahmed Abdullahi; Non-Executive Director, Mr Julius Omodayo-Owotuga; and Group Managing Director, Mr Nnamdi Okonkwo.

Director and Mr. Julius Omodayo-Owotuga, as Non-Executive Director respectively.

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