The Central Bank of Nigeria (CBN) has reassured Nigerians and commercial banking public that there is no cause for alarm over the court order on forfeiture of some shares to the Federal Government of Nigeria, reports ITREALMS.
According to a press statement by the Acting Director, Corporate Communications, Hakama Sidi Ali (Mrs.) available to
ITREALMS, this reassurance has become necessary 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.
CBN acknowledged 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.”
She explained that 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.
“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,” CBN spokeswoman said.
Customers were also encouraged to contact Keystone Bank’s customer support or visit any Keystone Bank branch for inquiries or concerns.
Chuks Egbune/DoP
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