Keystone Bank Remains Safe and Operational Following Court Order- CBN
By Patience Ikpeme
The Central Bank of Nigeria (CBN) has reaffirmed the safety and operational stability of Keystone Bank Limited following a recent court order that forfeited the bank’s previously held shares to the Federal Government of Nigeria.
In a statement issued on Friday and signed by Mrs. Hakama Sidi Ali, Acting Director, Corporate Communications, the CBN reassured the public that the bank remains sound and fully operational, dispelling concerns triggered by the court ruling.
The CBN emphasized that the stability of the banking system and the safety of depositors’ funds are its paramount priorities. “Keystone Bank’s operations are entirely secure, and there is no reason for concern,” the statement reiterated.
Mrs. Ali clarified that the court order merely reaffirmed the CBN’s prior decision in January 2024 to assume management control of Keystone Bank Limited following a change in its leadership.
“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,” she stated.
The CBN has been closely monitoring the bank’s operations since the takeover to ensure full compliance with regulatory standards, operational transparency, and the protection of depositors’ interests. “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,” Mrs. Ali confirmed.
The statement further assured of the CBN’s commitment to safeguarding the financial system and maintaining public trust. “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,” she assured.
The CBN recognizes the importance of clear and consistent communication, especially in situations that might cause public anxiety. By promptly addressing the concerns arising from the court ruling, the CBN aims to maintain confidence in the banking sector and prevent any potential disruption to Keystone Bank’s operations.
The CBN has encouraged Keystone Bank customers to contact the bank’s customer support or visit any Keystone Bank branch for inquiries or concerns. This direct line of communication will allow customers to receive accurate and up-to-date information about their accounts and the bank’s operations.
The CBN’s proactive approach and its commitment to transparency are expected to reassure depositors and maintain stability within the financial ecosystem. The central bank’s continued oversight of Keystone Bank’s operations signals its dedication to ensuring the bank’s long-term health and its ability to serve its customers effectively.
