The Central Bank of Nigeria (CBN) has assured the public that Keystone Bank Limited remains financially stable and operational, dispelling any fears about the security of customers’ deposits. This statement was issued on Friday by the Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, in response to growing concerns among Keystone Bank’s customers regarding the safety of their funds.

The reassurance from the CBN came after Keystone Bank announced that it is now entirely owned by the Federal Government of Nigeria. This change in ownership followed a court ruling that dissolved its former shareholder, Sigma Golf Nigeria Limited, and ordered that its shares in the bank be transferred to the government.

The CBN emphasized that while this development may have raised concerns among customers, there is no reason for alarm. The regulatory body reaffirmed its commitment to maintaining the stability of the banking sector, ensuring depositors’ funds remain secure. The statement clarified that the court’s decision merely reinforced a move the CBN had already taken in January 2024, when it assumed control of Keystone Bank and appointed new leadership.

Since then, the CBN has been actively supervising the bank’s activities, ensuring compliance with regulatory guidelines, transparency in operations, and overall financial stability. The apex bank reassured the public that it remains committed to safeguarding the financial system by continuously monitoring Keystone Bank’s performance. It also reiterated its dedication to protecting the interests of depositors, employees, and other stakeholders.

The CBN urged customers to remain confident in the banking system, stressing that Keystone Bank is well-positioned to continue serving the public without any disruptions.