PanAfrican Capital (PAC) Holdings Limited has stated that recent media report to the effect that liquidity crisis had hit one of the nation’s oldest banks, Wema Bank did not in any way represent its position or emanated from it.
The media report, (not in BusinessDay) was allegedly credited to PAC Holdings Limited chief economist/head, investment research, Moses Ojo.
The company said this did not represent the position of the company as it usually scrutinised whatever comes out of its research team to the public.
“This is to state clearly that this malicious news neither emanated from us in PanAfrican Capital Holdings Ltd nor from our chief economist – Moses Ojo and we take exception to associating us as an entity with this news. As a responsible entity, we normally scrutinise any economic and financial news that emanates from our research desk”, combat said in a statement.
The company disowned the news and urged the general public to regard it as false in the context in which it was issued.
“We enjoin the public to disregard the news in its entirety and be assured that the news does not represent our position on Wema Bank.”
