Henry Cejudo will relinquish the UFC flyweight championship to set up a title bout between Joseph Benavidez and Deiveson Figueiredo at UFC Norfolk on February 29, according to multiple reports.

 Cejudo, who is currently a two-division champion, confirmed that he will be vacating the lighter of his titles in a statement to ESPN.

 “I’m going to relinquish the belt,” Cejudo said in a statement.  “UFC never stripped me, I want to relinquish the belt and focus on 135 pounds.  I want to smash the so-called ‘King of Rio’ (Jose Aldo), and anybody and everybody at 135 pounds.”
Cejudo captured the flyweight title with a split decision victory over Demetrious Johnson at UFC 227 in August of 2018.  
He defended the title once, a first-round TKO victory over then bantamweight champion T.J. Dillashaw at Fight Night: Cejudo vs. Dillashaw on January 19.
After Dillashaw was stripped of his belt for failing a drug test, Cejudo defeated Marlon Moraes via third round TKO at UFC 238 on June 8 to claim the vacant bantamweight title and become a simultaneous champion in two divisions.
Benavidez is on a three-fight winning streak, with victories over Alex Perez, Dustin Ortiz and most recently Jussier Formiga at Fight Night: Ngannou vs. dos Santos on June 29.
Deiveson Figueiredo has captured his last two bouts, a unanimous decision over Alexandre Pantoja and a submission victory over Tim Elliott.  The 31-year-old has suffered only one defeat in his 19-fight professional MMA career.
Jose Aldo, despite losing his bantamweight debut at UFC 245 against Marlon Moraes, has been rumoured to be next in line for a shot at Cejudo’s 135 pound title.