Keystone Bank has confirmed that it is now fully owned by the Federal Government of Nigeria, stating that the takeover will enhance its stability and facilitate a smooth recapitalisation process.
The bank disclosed this in a statement on its Instagram page on Tuesday evening, following a ruling by the Lagos State High Court, Ikeja.
The court ordered the forfeiture of shares previously held by the bank’s former shareholders, effectively transferring ownership to the Federal Government.
“Keystone Bank Limited wishes to clarify the media report on a judgment by the Lagos State Special Offences Court, sitting in Ikeja, Lagos, on Tuesday, February 11, 2025, regarding the status of the former shareholders of the bank: Sigma Golf Nigeria Limited and Alhaji Umaru H. Modibbo,” the statement read.
“At the court sitting today, February 11, 2025, the court ordered the forfeiture of the bank’s shares previously held by these shareholders in favour of the Federal Government of Nigeria, ” it said.
The bank described the development as a significant milestone, reinforcing its stability and positioning it for long-term growth.
“With this clarity, we are well-positioned for sustained growth, stronger partnerships, and enhanced profitability. Keystone Bank continues to strengthen its balance sheet while delivering exceptional value to its teeming stakeholders,” it stated.
The bank also reassured customers of its financial health and regulatory compliance.
“We assure our customers that the bank remains safe, healthy, strong, and resilient,” it added.
Keystone Bank was among the three banks whose boards and management were dissolved by the Central Bank of Nigeria on 10 January 2024, leading to the appointment of new leadership.
WARNING: If You Are Not 18+, Don’t Click The Link Below 👇🫣Â
https://disloyalmoviesfavor.com/kx6iepv2qm?key=6c14bd1d68e1eba721851f19778f5efe
https://poawooptugroo.com/4/8902554
Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it.
Drop your comment in the section below, and don’t forget to share the post.
Never Miss A Single News Or Gists, Kindly Join Us On WhatsApp Channel:
https://whatsapp.com/channel/0029Vad8g81Eawdsio6INn3B
Telegram Channel:
https://t.me/gistsmateNG
