The Attorney General of the Federation, AGF, Lateef Fagbemi, has denied the Federal Government’s involvement in the recent acquisition of approximately 25 per cent of FirstHoldCo’s shares, valued at over ₦323 billion.
The statement followed media reports alleging that the transaction was facilitated through a Federal Government-backed Special Purpose Vehicle (SPV).
Several social media and online platforms had reported that a trustee acting on behalf of the Federal Government under the supervision of the Attorney General’s office and the Central Bank of Nigeria (CBN) had facilitated the share acquisition.
However, a rebuttal statement by Special Adviser on Communication and Publicity in the Office of the Attorney General of the Federation and Minister of Justice, Kamarudeen Ogundele, FG, described the reports as “false, misleading, resentful and potentially harmful”.