Shareholders of Trusted Shareholders Association of Nigeria (TSAN) have urged former chairman Oba Otudeko not to take actions that would destroy the wealth of many Nigerian investors in FBN Holdings. TSAN Chairman Alhaji Muktar Muktar stated that a Federal High Court in Lagos had issued an ex parte order restraining FBN Holdings from holding its Annual General Meeting (AGM) scheduled for August 15, 2023. Muktar argued that AGM is a lawful meeting and no judge should stop it. However, other shareholders, including Mrs. Bisi Bakare of Pragmatic Shareholders Association of Nigeria (PSAN), argued that the court order was not a good move for the company and investors. The chairman of Ibadan Zone Shareholders Association, Mr. Eric Akinduro, also deemed the court order unsuitable.
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