First HoldCo Plc has officially completed the divestment of its entire stake in FBNQuest Merchant Bank Limited, marking a significant development in the Nigerian financial services sector.
In a disclosure issued in line with the Nigerian Exchange Limited (NGX) Rulebook, the company confirmed that it has transferred 100% ownership of the merchant banking subsidiary to EverQuest Acquisition LLP.
The transaction, according to the notice, received full regulatory approval from the Central Bank of Nigeria (CBN), signalling the final stage of the ownership transfer.
The development underscores First HoldCo Plc’s ongoing strategic business realignment and portfolio restructuring, as it continues to streamline its investment interests within the financial services ecosystem.
The notification was signed by Abiola Baruwa, Group Company Secretary, First HoldCo Plc.
