First Bank of Nigeria (FBN) Holdings Plc is to change its name to First Holdco Plc.
The shareholders of the bank approved the change of name at the 12th Annual General Meeting (AGM) held virtually on Thursday, Nov. 14, 2024.
The approved changes include shifting the company’s legal name from FBN Holdings Plc to First Holdco Plc and its brand name to FirstHoldco.
The shareholders also approved the proposal of the board to raise the bank’s capital by N350 billion.
Mr. Adewale Arogundade, the company’s Secretary, announced this in a statement on Sunday.
He said the name change was to conform with the resolution of the shareholders at the last annual general meeting.
The resolution reads in part: “That there should be a change of the legal and brand names of the company from FBN Holdings Plc and FBN Holdings to First Holdco Plc and FirstHoldco, respectively,
“That the change of legal and brand names should be extended to the subsidiaries of FBN Holdings Plc
“That the directors be and are hereby authorised to perform all such other acts and do all such other things as may be necessary to give effect to the above resolutions, including, without limitation, complying with the directives. First Bank to raise N350 billion.
“That upon completion of the processes for the change of name, increase of the company’s share capital, and allotment of the new ordinary shares, following the resolutions above, the Memorandum and Articles of Association of the company be amended as necessary to reflect the company’s new legal name and Issued share capital.”
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