Forfeiture Order: Keystone Bank is Stable- CBN
The Central Bank of Nigeria (CBN) has reassured the public that Keystone Bank Limited remains safe, sound, and fully operational.
The reassurance by the apex bank is coming following the court order that the shares of Keystone Bank Limited previously held by the shareholders be forfeited to the Federal Government of Nigeria.
A statement by the Bank’s Acting Director of Corporate Communications Mrs Hakama Sidi-Ali acknowledged that the development may have triggered customer concerns, but “wish to underscore that the stability of the banking system and the safety of depositors’ funds remain our top priorities”.
The statement noted that Keystone Bank’s operations are entirely secure, and there is no reason for concern.
“For clarity, the Court Order merely reaffirmed the Central Bank of Nigeria’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”.
The CBN noted that as part of its commitment to safeguarding the financial system and building public trust, it shall continue to monitor the bank’s performance.
“We will take all necessary steps to protect the interests of depositors, staff, and stakeholders”.
Customers are also encouraged to contact Keystone Bank’s customer support or visit any Keystone Bank branch for inquiries or concerns.
