Court Adjourns Shareholders Suit Against FBN Holdings Indefinitely

The Federal High Court sitting in Lagos has adjourned sine die , the suit filed against First Bank Holdings by the bank’s shareholder, Olusegun Samuel Onagoruwa, seeking to stop the Annual General Meeting of the bank.

In the application, which is yet to be heard, Onagoruwa is seeking the following reliefs: “an order restraining First Bank Holdings and its Board of Directors, their Agents, Employees, Servants, Officers, Directors, Privies or anyone acting on their behalf or at their behest, from conveying, conducting and holding the first respondents’ Extraordinary General Meeting scheduled to hold virtually on the 30th day of April 2024, pending the hearing and determination of the substantive action.

Adebowale told the court that his application was based on the appeal filed against the court’s ruling, which refused to join his client as a party in the suit.He also told the court that the parties had exchanged briefs, and the Court of Appeal had fixed July 3, 2024, for the appeal hearing.

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