RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Banking

Federal High Court Halts FBN Holdings’ AGM Amid Shareholder Dispute.

Rate Captain by Rate Captain
August 15, 2023
in Banking, company news
Reading Time: 2 mins read
A A
0
Federal High Court Halts FBN Holdings’ AGM Amid Shareholder Dispute.
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

The Federal High Court in Lagos has issued an interim order restraining FBN Holdings Plc from proceeding with its scheduled Annual General Meeting (AGM) set for Tuesday, August 15, 2023. The order was granted pending the hearing and determination of a motion on notice filed by three aggrieved shareholders of First Bank. The decision was rendered by Justice Nicholas Oweibo after considering an ex parte application brought before the court by legal representatives of the aggrieved shareholders.

The three petitioners, Olojede Adewole Solomon, Adebayo Oluwafemi Abayomi, and Ogundiran Emmanuel Adejare, were represented in court by Senior Advocates of Nigeria Muiz Banire and Kunle Adegoke, along with Seun Onabowu. Justice Oweibo’s ruling, delivered on August 9th, bars FBN Holdings Plc and its staff from conducting the AGM until the matters in contention are resolved. Further hearings on the case are scheduled for Wednesday, August 16.

AlsoRead

Amazon Announces $4 Billion Investment in AI Firm Anthropic

Bank of Japan Maintains Ultra-Loose Monetary Policy Amid High Uncertainty

NGX Reports 98% Surge in Trade Volume as Investors Lose N35 Billion

The aggrieved shareholders’ legal representatives, in a letter dated August 14, 2023, communicated the court’s interim order to FBN Holdings. Additionally, a notice of consequences of disobedience of a court order, known as Form 48, has been filed against the company.

Addressed to the Group Managing Director of FBN Holdings, Mr Nnamdi Okonkwo, Form 48 serves as a warning, stating: “Take Notice that unless you obey the directions contained in this order attached, you will be guilty of contempt of court and will be liable to be committed to prison.”

The interim order, as detailed in the court documents, reads: “An Order of Interim Injunction restraining the Respondent (FBN Holdings Plc), whether directly by itself, or indirectly through its directors, managers, officers, employees, servants, consultants, attorneys, agents, representatives, privies, however so-called, persons acting under its instructions and control, from holding, or taking any step to hold, or proceeding with the proposed Annual General Meeting of the Respondent scheduled to hold on the 15th day of August 2023 by virtual means, pending the hearing and determination of the Motion on Notice already pending before this Honourable Court.”

The court’s intervention emphasizes the importance of upholding corporate governance standards and providing avenues for shareholders’ concerns to be addressed within the legal framework. The case highlights the significance of transparent and fair proceedings in the corporate sector and underscores the court’s role in ensuring accountability and adherence to legal protocols.

Previous Post

Central Bank of Nigeria Implements Forex Measures to Tackle Naira Slide.

Next Post

UK Unemployment Rate Increase Amid Rapid Immigration

Related News

Amazon Announces $4 Billion Investment in AI Firm Anthropic

Amazon Announces $4 Billion Investment in AI Firm Anthropic

by Bolarinwa Mathew
September 25, 2023
0

In a strategic move to bolster its presence in the ever-evolving field of artificial intelligence, Amazon revealed its plans on...

Bank of Japan Maintains Ultra-Loose Monetary Policy Amid High Uncertainty

Bank of Japan Maintains Ultra-Loose Monetary Policy Amid High Uncertainty

by Victoria Attah
September 22, 2023
0

The Bank of Japan (BOJ) has chosen to maintain its ultra-loose monetary policy and keep interest rates unchanged, reflecting its...

NGX Appoints an Advisory Panel on Digital Technology Products.

NGX Reports 98% Surge in Trade Volume as Investors Lose N35 Billion

by Stephen Akudike
September 22, 2023
0

In a noteworthy development in the Nigerian financial markets, the daily trade volume on the Nigerian Exchange Limited experienced a...

Court Orders Credit Suisse Unit to Pay $743 Million to Georgian Billionaire Bidzina Ivanishvili

Court Orders Credit Suisse Unit to Pay $743 Million to Georgian Billionaire Bidzina Ivanishvili

by Victoria Attah
September 20, 2023
0

In a significant legal ruling, a Singapore court has ordered a unit of Credit Suisse to pay Georgian billionaire and...

Next Post
UK Unemployment Rate Increase Amid Rapid Immigration

UK Unemployment Rate Increase Amid Rapid Immigration

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Dave Limp to Replace Bob Smith as Blue Origin CEO Amidst Key Space Projects

Dave Limp to Replace Bob Smith as Blue Origin CEO Amidst Key Space Projects

September 26, 2023
 Nigerian Money Supply Experiences Minor Dip in August 2023

 Nigerian Money Supply Experiences Minor Dip in August 2023

September 26, 2023

Popular Story

  • FirstBank Technology Academy Opens Application For Young Graduates to Explore Tech Careers.

    FirstBank Technology Academy Opens Application For Young Graduates to Explore Tech Careers.

    0 shares
    Share 0 Tweet 0
  • Deteriorating Apapa-Wharf Road Poses a Risk to N2.6 Trillion in Customs Revenue

    0 shares
    Share 0 Tweet 0
  • Key Pitfalls to Avoid in Forex Trading: Tips for Success

    0 shares
    Share 0 Tweet 0
  • Nigerian Senate Gears Up for Busy Session: CBN Governor Confirmation Tops Agenda

    0 shares
    Share 0 Tweet 0
  •  Nigerian Money Supply Experiences Minor Dip in August 2023

    0 shares
    Share 0 Tweet 0
RateCaptain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
View preferences
{title} {title} {title}
?>