A Federal High Court in Ikoyi, Lagos, has issued an interim injunction preventing PZ Cussons Nigeria Plc and its parent company, PZ Cussons (Holding) Limited, from proceeding with an Extraordinary General Meeting (EGM) earlier scheduled for Thursday (today) March 13, 2025.

The injunction, with the suit number, FHC/L/CS/467/2025, followed an application by Chukwuma Ajene, who sought to halt the meeting and any related decisions that could affect his rights as a shareholder.

In the order issued on March 12, 2025, the court directed all parties to maintain the status quo until a full hearing of the case on April 1, 2025.

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The interim injunction specifically restrains the respondents from convening the EGM or any other board or members’ meeting of PZ Cussons Nigeria Plc for the purposes outlined in the February 14, 2025 notice.

It also restrained them from advancing or implementing any agenda items listed in the EGM notice.

The respondents were equally restricted “from taking any actions that could undermine Ajene’s shareholder rights in the company.”

The court issued the order after reviewing the supporting affidavit, exhibits, and written address submitted by Ajene’s legal representatives.

Ngozi Ekugo is a Senior Correspondent at BusinessDay. She holds a Masters in management from the University of Lagos, an undergraduate from University of Lagos, and is in an alumni of Queen's College. Shes currently an associate member of the Chartered Institute of Personnel Management (CIPM). She has a brief experience at Goldman sachs, London in its Human Capital Management division. She is interested in human capital development and is leveraging her varied experience across sectors to report labour and global mobility trends for stakeholders to make informed decisions.

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