Economy
Uproar Among FBN Holdings Shareholders Over Suspension of AGM
By Adedapo Adesanya
Some shareholders of FBN Holdings Plc have protested against a court order suspending the 11th Annual General Meeting (AGM) of the financial institution, and management proposed plans to raise fresh capital and appoint new directors.
The shareholders called on the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), and other regulatory bodies to take action and look into the crisis.
The shareholders, in a protest in Lagos on Monday, August 7, decried the move by some individuals to use the court to stop the AGM, noting that yearly meetings are statutory gatherings that cannot be stopped from holding.
A petition by Mr Olusegun Samuel Onagoruwa, upon which the order was obtained in suit No: FHC/L/CP/1271/2022, addressed to the chairman of FBN Holdings, Mr Nnamdi Okonkwo said, “Take notice that unless you obey the directives in the judicial order contained in the order made on the 15th July 2022 by the Federal High Court, Lagos, by refraining from proceeding with the 11th Annual General Meeting of FBN Holdings Limited, proposed for 15th August 2023 from seeking approval to issue or raise share capital in any manner whatsoever, from appointing or confirming the appointment of new directors, or in any other manner taking any step towards implementing, actualizing enforcing resolution of the 10th Annual General Meeting of FBN Holdings Plc, held on 20th June 2022 or in any other manner overreaching, disobeying or undermining the said order of court, you will be guilty of contempt of court.”
On his part, Mr Chairman of the Trusted Shareholders Association of Nigeria, Mr Mukhtar Mukhtar, while speaking on behalf of other minority shareholders, noted that shareholders are not happy that some individuals are trying to hold the financial institution to ransom.
He added: “They, therefore, want the AGM to proceed, and all resolutions should be considered.
“We are here to register our displeasure, discontent, our disapproval, and rejection of the attempt by some shareholders to prevent the AGM of FBN from being held and thereby preventing some resolutions from being passed.
“We want the AGM to proceed and the resolutions passed.”
He noted that FBN Holdings has an important, systemic function in the economy of Nigeria as one of the few banks that stabilize most of the monetary and fiscal policy and banking practices as a whole.
Mr Mukhtar urged the regulators to allow the financial institution to grow by enforcing best practices and by resolving the looming crisis.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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