FBNH addresses concern over EGM row, gives update on rights issue

FBN Holdings Plc (FBNH), the parent of First Bank of Nigeria, has said the dispute over an extraordinary general meeting (EGM) has no impact on the operations of the company.

FBNH said in a statement that its attention had been drawn to a media publication on the call for an EGM by two of the company’s shareholders.

It said: “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. We assure our valued 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.

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“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.”