Keystone Bank stable despite takeover by FG, CBN affirms
“Keystone Bank’s operations are secure, and there is no reason for concern."
The Central Bank of Nigeria (CBN) says Keystone Bank Ltd. remains safe, sound, and fully operational in spite of an existing court order.
The bank said this in a statement on Friday by Mrs Hakama Sidi-Ali, Acting Director, Corporate Communications, CBN.
Sidi-Ali said although the previous shares of the bank held by the shareholders were forfeited to the Federal Government, the bank remained stable.
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“We acknowledge this development may have triggered customer concerns; however, we wish to underscore the stability of the banking system, while the safety of depositor’s funds remains our top priority.
“Keystone Bank’s operations are secure, and there is no reason for concern.
“For clarity, the court order merely reaffirmed the central bank’s prior decision to take over the management of Keystone Bank Limited in January 2024, following a change in its leadership.
“Since then, the CBN has closely monitored the bank’s operations to ensure they are in full compliance with regulatory standards, operational transparency, and the interests of depositors,” she said.
She said due to CBN’s commitment to safeguarding the financial system and building public trust, it shall continue to monitor the bank’s performance.
She added that CBN would take all necessary steps to protect the interests of depositors, staff, and stakeholders.
Sidi-Ali urged the clients to contact Keystone Bank’s customer support or visit any of its branches for inquiries or concerns.
