Keystone Bank Stable, CBN Assures Public After Court Order

The Central Bank of Nigeria (CBN) assured the public on Friday that Keystone Bank Limited is secure, stable, and fully functional.

This statement came in response to a court ruling that ordered the shares of Keystone Bank Limited, previously owned by its shareholders, to be surrendered to the Nigerian government.

“We acknowledge that this development may have triggered customer concerns; however, we wish to underscore that the stability of the banking system and the safety of depositors’ funds remain our top priorities. Keystone Bank’s operations are entirely secure, and there is no reason for concern,” a statement signed by Hakama Sidi Ali, acting Director of the Corporate Communications Department, said.

The court ruling affirmed the CBN’s earlier decision to assume control of Keystone Bank Limited in January 2024, following a change in its management. Since then, the CBN has diligently monitored the bank’s operations to ensure compliance with regulatory standards, operational clarity, and the protection of depositors’ 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 read