Keystone Bank Not In Trouble! CBN Moves To Quell Public Fears

Keystone Bank Not In Trouble! CBN Moves To Quell Public Fears

The Central Bank of Nigeria (CBN) has assured depositors and stakeholders that Keystone Bank remains financially sound and operational, despite a court ruling ordering the forfeiture of its shares previously held by former shareholders to the federal government…….READ MORE 

In a statement on Friday, Acting Director Hakama Sidi-Ali acknowledged concerns over the development but emphasized that the necessary measures have been put in place to ensure the bank’s stability.

The CBN clarified that the court’s decision simply reaffirmed its earlier move to take control of Keystone Bank in January 2024, following a leadership transition. Since then, the apex bank has been monitoring the bank’s operations to ensure compliance with regulatory standards and protect depositors’ interests.

Reiterating its commitment to maintaining confidence in the financial system, the CBN assured the public that Keystone Bank’s performance would continue to be closely supervised. Customers with inquiries were encouraged to reach out to Keystone Bank’s customer support or visit any branch.

The statement aims to dispel fears and reinforce the CBN’s dedication to a stable and secure banking sector.