The Federal High Court of Nigeria, Lagos Judicial Division has dissolved a legal action filed by a minority shareholder of financial services group FBN Holdings over the company’s annual general meeting convention.
The petition by Tohir Folorunsho Ismaila on 9 August centred on whether the 12th annual general meeting (AGM) of FBN Holdings “was properly convened on the order of Board of Directors in the face of allegation that they were not lawfully appointed as directors,” according to a court ruling obtained by PREMIUM TIMES.
Among other issues raised by the petitioner were claims that the organisation failed to publish a notice of the AGM in a minimum of two national newspapers at least three weeks ahead and that he was not notified of the meeting.
