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page 18 extra First Guarantee pension to hold EGM By Victoria Onehi Plans have been concluded by the shareholders of First Guarantee Pension Limited (FGPL)…

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First Guarantee pension to hold EGM

By Victoria Onehi

Plans have been concluded by the shareholders of First Guarantee Pension Limited (FGPL) for an Extra-ordinary General Meeting (EGM) to re-constitute its board.

The Extra-ordinary General Meeting (EGM) will take place today.

If reconstituted as planned, the board of FGPL will have responsibility to reposition the company. This will be the first in five years that the shareholders of the company will be meeting to take decisions for the business.

Apart from reconstituting the board of the Pension Fund Administrator FGPL, the EGM will also allow for reconciliation of the differences among shareholders by facilitating the withdrawal of all pending court suits.

Sources at the company said Chief George Ozodinobi may likely emerged as the Company’s chairman and Chijioke Chuku and Co as Company Secretary.

The source revealed that an agreement may have been reached with Nze Chidi Duru the promoter of the company.

It will be recalled that PenCom had taken over the management of FGPL based on the content of a 2011 Draft Target Examination putting an interim management committee to superintend over the affairs, but the regulator was challenged in court by the board of directors of the PFA comprising both local and foreign shareholders, individually and in joint capacity.

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