FBN Holdings Cancels Annual Shareholders Meeting Again

FBN Holdings Cancels Annual Shareholders Meeting Again

FBN Holdings (FBNH) Plc, a group that warehouses First Bank of Nigeria (FBN) Limited, has cancelled its annual shareholders meeting again.

In a regulatory filing submitted to the regulator on Monday, the financial services group told the Nigerian Exchange that the annual general meetings of the members of FBN Holdings Plc that was fixed to take place on August 22, and then rescheduled to September 3, 2024 has been cancelled.

MarketForces Africa reported that a disgruntled shareholder had asked the court to stop the annual general meeting in the midst of an ongoing legal storm with Barbican Capital Limited, a company associated with its erstwhile chairman, Oba Otudeko.

Before the meeting cancellation note, FBNH Plc had planned to obtain shareholders’ approval to declare dividends and authorize the board to raise up to N350 billion in capital amidst banking sector recapitalization.

Meanwhile, the financial services group did not provide a new date. “Further information will be provided in due course, as appropriate,” FBN Holdings told the Nigerian Exchange and the investing public in the statement.  #FBN Holdings Cancels Annual Shareholders Meeting Again CBN Defends Naira with $39m in Forex Market