The Office of the Attorney General of the Federation (AGF) has refuted the recent reports of the media that suggest that the federal government has taken a 25% participation in First Bank Holdings (First Holdco).
In a press release issued on Friday by Kamarudeen Ogundele, special assistant of the President of Communication and Advertising at the AGF office, the Federal Government described the reports of the newsy newspaper and television arises as “inaccurate, misleading, resentful and malicious.”
The AGF office categorically declared that, neither the federal government nor the Attorney General of the Federation and the Minister of Justice had any participation in the acquisition of actions in the financial institution.
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“The Office of the Attorney General of the Federation and Minister of Justice discredits this falsehood to avoid confusion or erroneous concepts about the property and governance of First Holdco,” reads the statement.
He clarified that, although an administrator structure exists within First Holdco, it was initiated independently by the company, with the regulatory supervision of the Central Bank of Nigeria (CBN) and that, according to the reports, Stanbic IBTC has been approved by the Apex bank to act as a third party administrator, but this agreement, the AGF office, has no connection with the federal government.
The statement also urged media organizations to practice greater professionalism and diligence in their reports to avoid the dissemination of erroneous information or get into conflict with the law.
“We assure the public the continuous commitment to the promotion of the rule of law, justice, equity, responsibility, transparency and service to the nation for the administration of President Bola Ahmed Tinubu,” Ogundele added.