BREAKING: CBN reassures public of Keystone Bank’s stability amid court-ordered forfeiture 

In a statement issued on Friday by the bank’s acting Director of Corporate Communications, Mrs Hakama Sidi Ali, the apex bank acknowledged concerns over the development but maintained that there is no cause for alarm.

It emphasized that the stability of the banking sector and the safety of depositors’ funds remain top priorities.

“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,” the statement read. 

The CBN noted that it has since been monitoring the bank’s operations to ensure compliance with regulatory standards, operational transparency, and depositor protection.

“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 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 regulator stated. 

Customers were advised to direct inquiries to Keystone Bank’s customer support or visit any of its branches for further clarification.

The court-ordered forfeiture follows regulatory interventions in Nigeria’s banking sector, with the CBN moving to strengthen governance and ensure financial system stability.

Naijaonpoint earlier reported that Keystone Bank Limited announced that it is now fully owned by the Federal Government of Nigeria, following the court’s dissolution of its former shareholder, Sigma Golf Nigeria Limited.

The EFCC accused the defendants of converting AMCON’s N20 billion funds through Heritage Bank to Sigma Golf Nigeria Ltd for the acquisition of shares in Keystone Bank.