Foremost financial services institution, Wema Bank, on Saturday debunked reports that Ekiti State Government had sold off its shares in the bank.
It issued the refutal in a statement by the Head, Marketing, Corporate Communications & Investor Relations, Funmilayo Falola.
It reads: ‘The attention of the bank has been drawn to some misleading reports in the media which state that Ekiti State Government has sold some of its shares in Wema bank Plc thereby reducing its holdings in the bank.
We wish to state that this report is not correct and should be disregarded by the public. Ekiti State Government only transferred its shares to the State investment company and are still the ultimate owners of the mentioned units of Wema Bank Plc shares.
Ekiti State Government is also a part owner of Odua group which is a core shareholder in Wema Bank Plc."