CBN Retains Control of Keystone Bank Despite Ownership Transfer.

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The Central Bank of Nigeria (CBN) has confirmed its continued management of Keystone Bank Limited, following a court order transferring the bank’s shares from private shareholders to the federal government.

In a statement issued on Friday, Hakama Sidi Ali, Acting Director of Corporate Communications at the CBN, reassured customers that Keystone Bank remains stable, despite concerns arising from the court ruling. “Keystone Bank is safe, sound, and fully operational,” the CBN stated, reaffirming its commitment to ensuring the bank’s stability and seamless operations.

The apex bank emphasised that “the stability of the banking system and the safety of depositors’ funds remain our top priorities.” The CBN also clarified that customers have no reason to worry about their funds at Keystone Bank.

According to Hakama Sidi Ali, the court ruling mainly confirmed the CBN’s earlier decision to take over the bank’s management in January 2024, after a leadership change. The CBN has since been closely monitoring Keystone Bank to ensure compliance with regulatory standards, operational transparency, and prioritisation of depositors’ interests.

Ali stressed the CBN’s commitment to protecting the financial system and enhancing public trust. She affirmed that the CBN would continue to oversee Keystone Bank’s performance and take necessary actions to safeguard the interests of depositors, employees, and stakeholders.

Customers with questions or concerns are encouraged to reach out to Keystone Bank’s customer support services or visit any branch. The CBN aims to ensure that all customers feel secure and informed during this transition period.

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