Fakoyejo Olalekan
First Bank of Nigeria (FBN) Holdings has been hit with an ex-parte order restraining the company to maintain status quo. The company informed its investors in a filing to the capital market authority.
The ex-parte order was issued to prevent FBN Holdings from conducting its 10th Annual General Meeting (AGM). The management revealed that it received the Federal High Court order on July 18, 2022.
Join our WhatsApp ChannelHowever, the ex-parte order came almost a month late, as the company had already held on June 20, 2022. FBN disclosed that it was unaware of any lawsuit or court order until Monday, about 3 pm.
The bank reported that the case was adjourned till July 22, 2022, “In accordance with Nigerian Exchange Limited (NGX) Rulebook, we hereby notify NGX and the investing public that our attention has been drawn to an online publication dated July 17, 2022, stating that the Federal High Court sitting in Lagos, Nigeria, has granted an ex parte Order against FBN Holdings Plc and some other Respondents.
“FBN Holdings Plc remained unaware of any lawsuit or court order against it until about 3 pm today when a copy of same was served on it. The exparte order essentially directs FBN Holdings and the other respondents to maintain status quo ante bellum prevailing before FBN Holding Plc’s 10th Annual General Meeting (AGM) held on June 20, 2022 pending the hearing and final determination of the motion on notice for interlocutory injunction.
“Without prejudice to the said court order, FBN Holdings Plc confirms that the subject AGM was duly and validly held with all requisite regulatory and statutory parties in attendance.” the bank stated.
