FBN Holdings clarifies issues over call for extraordinary meeting, says operations not impacted 

The FBN Holdings PLC has reacted to media reports over call for Extraordinary General Meeting (EGM) by some shareholders of the company. The bank issued the clarification following reports over alleged move against the Chairman of the Company, the parent company of FirstBank. The shareholders are said to be opposed to alleged move to launch […]

The FBN Holdings PLC has reacted to media reports over call for Extraordinary General Meeting (EGM) by some shareholders of the company.

The bank issued the clarification following reports over alleged move against the Chairman of the Company, the parent company of FirstBank.

The shareholders are said to be opposed to alleged move to launch a private placement when the rights issue is yet to be concluded.

But in a statement to the Nigerian Exchange (NGX) and signed by Adewale Arogundade, the Company Secretary, stated that the matter does not hinder the operations of the company and all its subsidiaries.

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The statement read: “The attention of FBN Holdings Plc. (FBNH or the Company) has been drawn to a media publication on the call for an Extraordinary General Meeting (EGM) by two of the Company’s shareholders.

“This matter does not in any way impact the operations of the Company; and all the businesses within the Group continue to provide uninterrupted services to its customers.”

The bank assured its customers, shareholders, investors, other stakeholders and the general public “that we are taking all necessary steps to protect the interests of the Company and its subsidiaries.”

“The Group’s performance continues to improve, resulting in a higher market capitalization even as we work towards surpassing the regulatory minimum capital well ahead of the deadline.

“In the meantime, the Registrar and Lead Issuing House are collating the returns from all receiving agents in respect of the Company’s Rights Issue which closed on December 30, 2024.

“FBNHoldings and its Subsidiaries remain committed to the highest level of corporate governance,” the statement added.