AGF denies FG involvement in the acquisition of Holdco Share – Thage

The office of the Prosecutor General and the Minister of Justice denied a report of the newspaper on this day of 17 July 2025 and arising TV, suggesting that 25 % of First Bank Holdings (First Holdco) shares were transferred to the trustee of the Federal Government of Nigeria (FGN).

Special assistant of the President for communication and advertising, the office of the Prosecutor General of the Federation and the Minister of Justice, Kamarudeen Ogundele said that the relationship is inaccurate, misleading, resentful and harmful.

“Neither the federal government of Nigeria nor the Prosecutor General of the Federation and the Minister of Justice participated in the acquisition of the actions in question,” he said on Friday.

“The office of the Prosecutor General of the Federation and the Minister of Justice has eliminated this falsehood to prevent confusion or wrong ideas on the property and governance of Firstco.”

According to him, the circumstances that surround the shareholding are distinct from any involvement of the government.

However, he is aware of a trustee established by the first Holdco, with the CBN approving Stanbic Ibtc to supervise him as third.

He urged the media to exercise moderation, professionalism and two diligence in carrying out their duties to avoid violating the law.

“We assure the public of continuous commitment to the promotion of the state of law, justice, equity, responsibility, transparency and service to the nation by the administration of President Bola Ahmed Tinubu.”

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