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The Central Bank of Nigeria (CBN) has reaffirmed its commitment to managing Keystone Bank Limited after a recent court ruling transferred the bank’s ownership from private shareholders to the federal government.
CBN Assures Stability and Security
In a statement issued on Friday, Hakama Sidi Ali, Acting Director of Corporate Communications at the CBN, reassured the public that Keystone Bank remains financially stable and fully operational despite the ownership transition.
“Keystone Bank is safe, sound, and fully operational,” the CBN stated, emphasizing its continued efforts to ensure seamless banking operations. The apex bank also reiterated that the safety of depositors’ funds and the stability of the banking system remain its top priorities.
Regulatory Oversight and Commitment to Depositors
The CBN clarified that the court decision aligns with its earlier intervention in January 2024, when it assumed control of Keystone Bank’s management following leadership changes.
Sidi Ali highlighted that the CBN has been actively monitoring Keystone Bank, ensuring that it adheres to regulatory standards and operates transparently. The central bank remains committed to:
- Protecting the financial system, ensuring Keystone Bank’s continued operations.
- Safeguarding the interests of depositors, employees, and stakeholders.
- Strengthening public confidence in the country’s banking sector.
Customers Urged to Stay Informed
Keystone Bank customers are encouraged to visit any Keystone Bank branch or contact customer support for inquiries or concerns.
The CBN assured that customers’ funds are secure and emphasized its goal of maintaining a smooth transition while keeping all stakeholders informed.
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