••Apex Bank emphasizes continued oversight and commitment to depositor safety after court ruling.
By Anastasia John E, Abuja.
Abuja, Nigeria – The Central Bank of Nigeria (CBN) has issued a statement assuring the public of the continued stability and smooth operation of Keystone Bank Limited following a recent court order that resulted in the forfeiture of the bank’s shares to the Federal Government.
The CBN, through its acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, clarified that the court order merely formalizes the CBN’s prior action in January 2024 when it assumed management control of Keystone Bank due to leadership changes.
The central bank emphasized its unwavering commitment to the stability of the banking sector and the safety of depositors’ funds. Since taking over management, the CBN has maintained close supervision of Keystone Bank’s operations to ensure adherence to regulatory standards, operational transparency, and the protection of depositor interests.
“The stability of the banking sector and the safety of depositors’ funds remain our top priorities,” the CBN statement reiterated. The bank assured the public that ongoing monitoring and all necessary steps will be taken to safeguard the interests of depositors, staff, and all stakeholders.
Customers with concerns or requiring additional information are encouraged to contact Keystone Bank’s customer support or visit any branch for clarification.
The share forfeiture follows legal proceedings initiated by the Economic and Financial Crimes Commission (EFCC) against Sigma Golf Nigeria Limited and Ahmed Kuru, former Managing Director of the Asset Management Corporation of Nigeria (AMCON), related to an alleged N20 billion fraudulent diversion. The Lagos State Special Offences Court convicted Sigma Golf on charges of conspiracy and stealing, finding them guilty of misappropriating AMCON funds through Heritage Bank for the acquisition of shares in Keystone Bank.
The CBN’s proactive response underscores its commitment to maintaining confidence in the Nigerian financial system and ensuring that Keystone Bank’s operations remain unaffected for its customers and the wider public despite the legal proceedings and ownership changes.
