Nigeria, July 19 -- The Nigerian Government has denied its involvement in recent acquisitions of shares in First HoldCo Plc, which saw 10.43 billion shares of the financial services group, valued at N323.3 billion, exchange hands through 17 negotiated off-market deals on Wednesday.

In a Friday statement issued by Kamarudeen Ogundele, special assistant to the president on Communication and Publicity, Office of the Attorney General of the Federation and Minister of Justice, the government described the report as "inaccurate, misleading, resentful and malicious."

"We are compelled to respond to a publication by ThisDay Newspaper of July 17, 2025, and Arise TV suggesting that 25% of First Bank Holdings (First Holdco) shares were transferred...