The Federal Authorities has denied any involvement within the acquisition of 25% shares in First {Bank} Holdings (First Holdco), countering media experiences that claimed a major stake had been transferred to the federal government.
In a press release launched on Thursday, the Workplace of the Attorney General of the Federation (AGF) and Minister of Justice dismissed a ThisDay newspaper report and a broadcast by Come up TV as “inaccurate, deceptive, resentful, and malicious.”
The Particular Assistant to the President on Communication and Publicity on the AGF’s workplace, Kamarudeen Ogundele, stated neither the federal authorities nor the Legal professional Basic performed any function within the alleged share switch.
“We categorically state that the Federal Authorities of Nigeria and the Attorney General of the Federation haven’t any hand within the acquisition of the shares in query,” the assertion learn.
The federal government clarified {that a} trustee had been established for First Holdco, with the Central Bank of Nigeria (CBN) approving Stanbic IBTC to behave as a third-party overseer. Nevertheless, it emphasised that this association was completely impartial of any federal involvement.
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The AGF’s workplace urged the media to train warning, professionalism, and due diligence of their reporting, warning towards the unfold of misinformation that might mislead the general public.
“We guarantee Nigerians of this administration’s continued dedication to justice, fairness, accountability, and the rule of regulation,” the assertion added.
The clarification comes amid rising hypothesis over modifications in First Holdco’s possession construction and the function of regulators and trustees within the ongoing realignment of the banking group’s governance.
