CBN to customers: Keystone Bank fully operational… your funds are safe

CBN to customers: Keystone Bank fully operational… your funds are safe

The Central Bank of Nigeria (CBN) has reassured customers of
Keystone Bank Limited that the financial institution remains safe and fully
operational.

 

The development comes a few days after a court in Ikeja,
approved a plea bargain agreement between Sigma Golf and the Economic and
Financial Crimes Commission (EFCC).

 

The legal proceeding saw Sigma Golf agree to wind up and
forfeit N6.3 billion shares held in Keystone Bank to the federal government.

 

The decision comes a month after AMCON handed over Keystone
Bank to the Sigma Golf-Riverbank consortium.

 

On Wednesday, Keystone Bank announced that the federal
government has officially taken full ownership.

 

Speaking on the development in a statement on Friday, Hakama
Sidi Ali, the acting director of the corporate communications department at
CBN, said the apex bank’s focus will be to monitor the performance of the bank.

 

“The Central Bank of Nigeria (CBN) wishes to reassure the
public that Keystone Bank Limited remains safe, sound, and fully operational,”
the statement reads.

 

“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.

 

“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.”

 

Ali-Sidi also said the CBN would take all necessary steps to
protect the interests of depositors, staff, and stakeholders.

 

The financial regulator encouraged customers to contact
Keystone Bank’s customer support or visit any of its branches for inquiries or
concerns.

Source: CBN to customers: Keystone Bank fully operational… your funds are safe

 - NigerianEye

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