The announcement was made in a notification issued by the Group Company Secretary, Abiola Baruwa, for First HoldCo Plc in the document dated November 27, 2025.

The company said the notification was for the attention of the NGX and the investing public that First HoldCo Plc had successfully completed the full divestment of its 100% ownership in FBNQuest Merchant Bank Limited to EverQuest Acquisition LLP.

The notification reads in full:

“NOTIFICATION OF COMPLETION OF SALE OF FBNQUEST MERCHANT BANK LIMITED

“In line with the Nigerian Exchange Limited (NGX) Rulebook, we wish to inform NGX and the investing public that First HoldCo Plc has successfully completed the full divestment of its 100% ownership in FBNQuest Merchant Bank Limited to EverQuest Acquisition LLP.

“This transaction has been finalized after obtaining all necessary regulatory approvals from the Central Bank of Nigeria.”

READ ALSO: 

Dangote refinery to supply 1.5bn litres of petrol monthly

Waste management: We’re embracing strategic environmental initiatives –Lagos

Isak’s first league goal helps Liverpool to vital win at West Ham

Police probe officer over clash with conductor clash in viral video

Alleged corruption: NDPHC, MD debunk SR report, threaten legal action

Finally, President Tinubu takes the bull by the horns

Army rescues 12 abducted teenage girls in Borno

Troops rescue seven kidnap victims in Kano community

NDLEA uncovers illicit drugs packaged as Christmas cookies

Sixty-fifth birthday fireworks: Obasanjo versus Fayose (II)

One-by-one, bandit sympathisers show up

The post First HoldCo announces completion of sale of FBNQuest to EverQuest appeared first on Frontpageng.

Describing the report as inaccurate, misleading, resentful and malicious, the federal government said it decided to react to the report in order to avoid confusion or misconceptions about First Holdco’s ownership and governance.

The press statement signed by Mr. Kamarudeen Ogundele, Special Adviser to the President on Communication and Publicity, Office of the Attorney General of the Federation and Minister of Justice, reads in full:

“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 to the Federal Government of Nigeria’s (FGN) trustee.

“The report is inaccurate, misleading, resentful and malicious.

“Neither the Federal Government of Nigeria nor the Attorney General of the Federation and Minister of Justice participated in acquiring the shares in question.

“The Office of the Attorney General of the Federation and Minister of Justice debunks this falsehood to prevent confusion or misconceptions about First Holdco’s ownership and governance.

READ ALSO: Nigeria happened to me, By Olasunkanmi Arowolo

“The circumstances surrounding the shareholding structure are distinct from any government involvement.

“However, it is aware of a trustee set up by the First Holdco, with the CBN approving Stanbic IBTC to oversee it as a third party.

“We urge the media to exercise restraint, professionalism, and due diligence in carrying out their duties to avoid violating the law.

“We assure the public of continuous commitment to the promotion of the Rule of Law, Justice, equity, accountability, transparency and service to the nation by the administration of President Bola Ahmed Tinubu.”

The post FG speaks on alleged involvement in First Holdco share acquisition appeared first on Frontpageng.