The Central Bank of Nigeria (CBN) has reaffirmed the safety and operational stability of Keystone Bank, assuring depositors and stakeholders that the bank remains secure despite recent legal developments.
This reassurance follows a court ruling mandating the forfeiture of shares previously held by the bank’s former shareholders to the federal government.
In response, the CBN’s Acting Director, Hakama Sidi-Ali, released a statement on Friday, addressing potential concerns and emphasizing the bank’s continued smooth operation.
“Following the court order that the shares of Keystone Bank Limited previously held by the shareholders be forfeited to the Federal Government of Nigeria, the Central Bank of Nigeria (CBN) wishes to reassure the public that Keystone Bank Limited remains safe, sound, and fully operational,” the statement read.
The apex bank acknowledged that the ruling may have raised apprehension among customers but stressed that the financial system’s stability and depositor protection remain its top priorities.
It clarified that Keystone Bank’s operations remain intact and that there is no cause for alarm.
Providing further context, the CBN noted that the court ruling essentially reaffirmed its earlier decision to assume control of the bank’s management in January 2024.
Since then, it has been actively overseeing Keystone Bank to ensure compliance with regulatory requirements, transparency, and depositor interests.
“As part of our commitment to safeguarding the financial system and building public trust, we shall continue to monitor the bank’s performance. We will take all necessary steps to protect the interests of depositors, staff, and stakeholders,” the statement added.
Customers are encouraged to reach out to Keystone Bank’s customer support or visit any branch for further inquiries.
