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The federal excessive court docket in Lagos has restrained FBN Holdings Plc from holding its Annual Common Assembly (AGM) hitherto mounted for Tuesday, whereas warning towards disobedience of the order.
The court docket order is pending the listening to and willpower of the substantive matter filed earlier than it by three aggrieved shareholders of First Financial institution.
The court docket order is dated 9 August.
The decide, Nicholas Oweibo, made the order after listening to an ex-parte software moved by Muiz Banire, a senior lawyer representing the three petitioners — Olojede Solomon, Adebayo, Oluwafemi Abayomi, and Ogundiran Adejare.
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“That an order of Interim Injunction is hereby made restraining the Respondent (FBN Holdings Plc), whether or not immediately by itself or not directly by way of its administrators, managers, officers, workers, servants, consultants, attorneys, brokers, representatives, privies, nonetheless so-called, individuals appearing below its directions and management, from holding or taking any step to carry, or continuing
with the proposed Annual Common Assembly of the Respondent scheduled to carry on the fifteenth day of August, 2023 by digital means pending the listening to and willpower of the Movement on Discover already pending earlier than this Honourable Court docket,” the court docket order reads.
Contempt of court docket
On Monday, the court docket issued the warning to FBN Holdings’ Plc managing director, Nnamdi Okonkwo, in a Kind 48 discover titled “Discover of penalties of disobedience to order of court docket” following an software by three aggrieved shareholders of First Financial institution, owned by FBN Holdings Plc.
“Take discover that except you obey the instructions contained on this order connected, you can be responsible of contempt of court docket and can be liable to be dedicated to jail,” the letter reads.
The lawsuit resumes Wednesday.
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