By The Central Bank of Nigeria (CBN) has assured the public that Keystone Bank remains financially stable and fully operational despite a recent court ruling transferring its shares to the Federal Government.
In a statement by CBN spokeswoman Hakama Ali, the apex bank emphasized that the legal decision does not affect the bank’s operations or the safety of depositors’ funds.
“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,” the statement read.
The CBN clarified that the ruling merely reaffirmed its earlier decision to take over Keystone Bank’s management in January 2024, following leadership changes. Since then, the bank has been under the strict supervision of the CBN to ensure compliance with regulations and financial transparency.
Keystone Bank continues to function as usual, with depositors able to access their funds without disruption. The CBN reassured customers and investors that the institution remains sound and well-managed.
With regulatory oversight in place, the CBN urged the public to remain confident in the Nigerian banking system and dismiss any unfounded fears regarding Keystone Bank’s stability.
