The Central Bank of Nigeria has assured the public that Keystone Bank Limited remains stable and fully operational, despite a recent court ruling ordering the forfeiture of its shares to the Federal Government.
In a statement issued on Friday, the CBN acknowledged concerns that the development may have raised among customers but emphasized that the safety of depositors’ funds and the stability of the banking sector remain top priorities.
“We recognise that this development might have raised consumer concerns, but we want to emphasise that maintaining the stability of the banking system and protecting depositors’ money continue to be our top objectives.
“There is no cause for concern, as Keystone Bank’s operations are completely secure,” the statement said.
The apex bank explained that the court’s decision only upheld the CBN’s January 2024 decision to take over Keystone Bank after a change in leadership.
Since then, the CBN has kept a close eye on the bank’s operations to guarantee complete adherence to legal requirements and to protect depositor interests.
“As part of our commitment to protecting the financial system and increasing public trust, we will continue to monitor the performance of our banks. We will take all necessary steps to protect the interests of our inserts, employees and stakeholders,” CBN assured.
The apex bank asked the customer with concern to contact Keystone Bank’s customer support or to access one of the branches for further clarity.