The Federal Government of Nigeria and prominent businessman Femi Otedola, Chairman of FirstHoldCo Plc, have formally denied any involvement in the recent acquisition of approximately 25% of FirstHoldCo’s shares, valued at over N323 billion.
The statements follow speculative media reports alleging that the transaction was facilitated through a federal government-backed Special Purpose Vehicle (SPV).
Multiple social media and online platforms (excluding Nairametrics) 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.
