First HoldCo Plc, the parent company of First Bank has accused ThisDay Newspaper and its sister company, Arise TV of spreading falsehood on the recent off-market block trading of the financial service company’s shares on the floor of the Nigerian Exchange Limited (NGX).
In a statement released by First HoldCo, it accused the two media organisations of deliberate misrepresentation of facts in respect of a total of 10.4 billion units of its shares in off-market block trading, which took place on the floor of the Nigerian Exchange Limited (NGX) last Wednesday.
“This action was done with deliberate malicious intent to cast First HoldCo Plc in a bad light and continue to create confusion and panic amongst our esteemed stakeholders.
“We also wish to categorically state that Mr. Femi Otedola, CON, did not buy or take over the traded 10.4 billion units of shares, neither did the Federal Government of Nigeria, its agencies, and the Hon. Attorney of the Federation participate in the acquisition of the shares in question. The trading of the shares was conducted under a highly transparent and regulator-supervised process with the consent of all the parties involved. This was done in order to ensure continuous stability of this important national franchise.
“The shares were sold to an independent Bridge Holder with no benefit accruing to the company,” the statement read in part.
It continued: “We urge the proprietor of both Thisday and Arise TV media platforms to focus on paying back the indebtedness of his company – General Hydrocarbons Ltd to FirstBank rather than negatively channelling his energies towards vilifying the FirstHoldCo Group.
“Again, we advise ThisDay Newspaper and Arise TV to always demonstrate fairness, objectivity, and verification of facts before releasing news to the public. This, they owe the general public. It is indeed core and at the heart of the tenets of journalism.”
