FBN Holdings Debunks Arrest Of MD, Others

Malicious Publication - Rebuttal

FBN Holdings has rebutted a trending malicious publication made against the Managing Director (MD) of FirstBank Nigeria PLC whilst using the name and image of the Group Managing Director (GMD) of FBN Holdings.

BrandSpur Nigeria learnt that the publication insinuated that the GMD of FBN, Nnamdi Okonkwo was involved in a purported raid of the Presidential candidate of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu’s residence by the Economic and Financial Crimes Commission (EFCC) as Nigerians reel under the weight of Naira scarcity following a currency redesign project of the apex bank.

Titled “MALICIOUS PUBLICATION- A REBUTTAL,” FBN’s reaction followed a cogent denial by the Economic and Financial Crimes Commission (EFCC) few hours after the fake report.

But FBN Holdings, in a statement it made available to BrandSpur Nigeria on Monday morning, described the report as fake story attempting to damage the country’s banking system at large by dragging it into the murky waters of politics.

The statement reads thus, “Our attention has been drawn to false news making the rounds that an order of arrest has been made against the MD of FirstBank whilst using the name and image of the GMD of FBN Holdings.

“We wish to state categorically that this is fake news which has already been debunked by EFCC in their publication titled: ‘EFCC Did Not Raid Tinubu’s Home’ and signed by the Commission’s Head, Media & Publicity on its verified twitter handle.

“Neither the Managing Director of the Bank nor the Group Managing Director of the Holding company, Nnamdi Okonkwo have any involvement with the matters alleged in this made up news story nor is there an order of arrest against either  one of them.

“The public should disregard this and all such similar stories whilst the authorities are called upon to fish out the perpetrators of this malicious story”.

About FBN Holdings

FBN Holdings Plc is a leading African banking and financial services group serving individuals, businesses, organisations and governments in leading markets across the continent and globally. FBNHoldings’ principal bank subsidiary is First Bank of Nigeria Limited (FirstBank), Nigeria’s foremost financial institution and leading banking services provider. FirstBank has forged an incredible partnership with its people and built an enduring heritage through a vast array of seasons and societies, to remain an icon of Gold Standard in today’s financial services industry in Africa and beyond.

FirstBank with operations in 10 countries, with subsidiaries that includes FBNBank (UK) Limited, FBNBank in the Democratic Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone and Senegal, and First Pension Custodian Limited.

Others are the Merchant Banking and Asset Management businesses, which comprise FBNQuest Merchant Bank Limited, FBNQuest Capital Limited, FBNQuest Securities Limited, FBNQuest Asset Management Limited, FBNQuest Trustees Limited and FBNQuest Funds Limited.

Also, FBN Holdings Plc with this divestment still have left in its insurance business line as subsidiary: FBN Insurance Brokers, a reputable brokerage company.