The Central Bank of Nigeria (CBN) has assured Keystone Bank’s depositors and other stakeholders that the institution will remain safe and operational. The CBN’s decision followed a court judgement that the bank’s shares retained by previous shareholders be forfeited to the federal government.
In a statement issued on Friday by its Agent. Director Hakama Sidi-Ali, the apex bank conceded that the incident may have caused anxiety among depositors and other bank stakeholders, but that it has taken efforts to protect depositors and maintain the bank’s normal operation.
The statement begins with the words: “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.
“We recognise that this event may have raised consumer concerns; nonetheless, we would want to emphasise that the banking system’s stability and the protection of depositors’ funds remain our top objectives. Keystone Bank’s activities are completely secure, and there is no cause for fear. “To be clear, the Court Order merely upheld the Central Bank of Nigeria’s previous intention to take over operation of Keystone Bank Limited in January 2024, following a change in 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.”As part of our responsibility to protecting the financial system and fostering public trust, we will continue to examine the bank’s performance.
“We will protect the interests of depositors, staff, and stakeholders.”Customers are also advised to call Keystone Bank’s customer service or visit any Keystone Bank location with questions or concerns.
