The Office of the Attorney General of the Federation (AGF) has denied claims circulating in a section of the media suggesting that the Federal Government has acquired a 25 per cent stake in First Bank Holdings (First Holdco).
Reacting to a report published by some media hubs on Thursday 17, July (Not Afrocover), the AGF described the publication as “inaccurate, misleading, resentful and malicious.”
A statement issued on Thursday by Kamarudeen Ogundele, Special Adviser to President Bola Ahmed Tinubu on Communication and Publicity in the Office of the AGF, categorically stated that neither the Federal Government nor the Attorney General was involved in the said acquisition.
“Neither the Federal Government of Nigeria nor the Attorney General of the Federation and Minister of Justice participated in acquiring the shares in question,” the statement read.
It explained that while the federal government has no stake in First Holdco, it is aware that a trustee arrangement exists within the financial institution, with Stanbic IBTC appointed by the Central Bank of Nigeria (CBN) to oversee the process.
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“The circumstances surrounding the shareholding structure are distinct from any government involvement,” the statement noted, adding that, “it is aware of a trustee set up by the First Holdco, with the CBN approving Stanbic IBTC to oversee it as a third party.”
Charging media to uphold ethics
The AGF’s office urged journalists and media platforms to uphold professional ethics, carry out proper investigations before publishing sensitive matters, and avoid reports that could lead to public misinformation.
“We urge the media to exercise restraint, professionalism, and due diligence in carrying out their duties to avoid violating the law,” the statement emphasized.
Reaffirming the administration’s stance on transparency and good governance, Ogundele stated: “We assure the public of continuous commitment to the promotion of the Rule of Law, Justice, equity, accountability, transparency and service to the nation by the administration of President Bola Ahmed Tinubu.”
