Henry Cejudo's reign atop the UFC's flyweight division is over, as the champion has relinquished his title to focus on being the bantamweight champion.

According to multiple reports, Joseph Benavidez and Deiveson Figueiredo will meet in February 29 when the Octagon heads to Norfolk, Virginia for an ESPN+ card to crown a new champion.

Cejudo has been targeting a bout with former UFC featherweight champion Jose Aldo despite the fact that Aldo suffered a loss in his bantamweight debut to Marlon Moraes recently at UFC 245. Cejudo claimed the vacant belt with a victory in June over Moraes.

Benavidez has scored three consecutive victories, including a June TKO over Jussier Formiga. He earned a split decision over Cejudo back in 2016 and has fought twice previously for the UFC title.

Figueiredo enters the fight having won two in a row since suffering his first defeat to Formiga earlier this year. He submitted Tim Elliott in October to improve to 17-1.