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.”



Post views:
79

Check Also

Freedom of Information Act and The Limits of Press Freedom, By Mack Ogbamosa – THISAGE

        Introduction  A free, independent, and vibrant press is one of the strongest pillars of any democratic society. It is against this background that most democratic countries  make constitutional provisions for a free press . Others even go further to enact specific laws to make affairs of governments freely available to the public. Currently, there are more than  130 countries in the world that have free press laws. They include Sweden, United States, France, South Africa and Nigeria. Nigeria did not only make  constitutional provisions in Sections 22 and 39(1) of the 1999 Constitution ( as amended) but also went ahead to enact the Freedom of Information Act  in 2011. Section 22 of the 1999  Constitution states: “ “The press, radio, television and other agencies of the mass media  shall at all times be free to uphold the fundamental objectives contained in this chapter( ie Chapter II) and uphold the responsibility and accountability of the Government to the people”  Section 39(1)  of same Constitution states : “Every person shall be entitled to freedom of expression, including freedom to hold opinions and to receive and impart ideas and information without interference” ..  To complement these constitutional provisions, Section 1 (1) of the Freedom of Information Act (FOIA) states “Notwithstanding anything contained in any other Act, law or regulation, the right of any person to access or request information, whether or not contained in any written form, which is in the custody or possession of any public official, agency or institution howsoever described, is established.” while Section  2(2), states that: “A public institution shall ensure the proper organization and maintenance of all information in its custody in a manner that facilitates public access to such information”  Primary Purpose of FOIA  According to the Act, its primary purpose is to make information about public records freely available to every Nigerian in the public interest. …

Leave a Reply

Your email address will not be published. Required fields are marked *