The Central Bank of Nigeria (CBN) has spoken up on the recent takeover of Keystone Bank Limited.
The Apex bank assured stakeholders that while their concerns are justified, there is no cause for alarm.
In a Press Release issued on Friday, and signed by the Acting Director, Corporate Communications, Mrs Hakama Sidi Ali, the bank assured customers that the bank remains fully operational.
The Central Bank of Nigeria just took over management of Keystone Bank following a Court Order during the week.
The court ordered that shareholders of Keystone Bank Limited should forfeit the N6.3 billion shares to the Federal Government of Nigeria.
Keystone Bank said in its statement that the order brings some new clarity that will properly position the bank for sustained growth, stronger collaborations, and enhanced profitability.
The takeover has led to massive fund withdrawals by customers despite assurances that the bank remains financially healthy.
The statement from CBN assured that the apex bank has taken over management of the bank and the operations will remain stable.
It also assured that CBN is committed to ensuring depositorsâ funds stay safe.
The statement read;
The statement also shared details of why the CBN took over the management of Keystone Bank Limited.
It explained that the court order was just a reaffirmation of CBNâs earlier decision to take over managing the bank in January 2024.
CBN had announced a dissolution of the bankâs Board and Management for breach of corporate governance and appointed a new management.
It added that customers can walk into the nearest branch of Keystone Bank to make inquiries about any further concerns they have.
In related news, Keystone Bank Limited clarified the reports of its takeover by the Nigerian government through a court order.
The bank confirmed the court order, stating that it is now wholly owned by the Nigerian government.
The court order also authorised asset forfeiture and clarified the status of the former owners, Sigman Golf Limited and Umaru Modibo.
Proofreading by James, Ojo Adakole, journalist and copy editor at TimesNow.com.ng.
Source: TimesNow.com.ng
