Keystone Bank says FG did not order it to close ‘TakeBackNaija’ account

Keystone Bank Limited has debunked a statement credited to a political group, “TakeBackNaija Initiative”, which alleged that the Federal Government had ordered the closure of its accounts with the bank for supporting the presidential candidate of the Labour Party, Mr. Peter Obi.

In a statement issued by Keystone Bank Management and made available to newsmen on Monday, the lender denied the allegations, stressing that at no time did the Federal Government or anyone else order it to close the said account.

The bank said it closed the account because “it was irregularly opened, contrary to extant regulatory guidelines.”

“In line with applicable regulatory guidelines on treatment of such accounts with irregularities, funds received into this account have been returned to their sources of origin.

“While we recognise the right of every citizen of our country to freely associate in pursuit of common objectives, we also believe as an institution that is subject to supervisory regulations, it is imperative we act within the confines of prescribed guidelines in all our dealings.

“Keystone Bank is open to doing business with every Nigerian irrespective of background or beliefs. But we also owe the public a duty to conduct our business in a safe manner” the statement said.

Find a copy of the statement below:

Keystone Bank Limited, founded in 2011, is a commercial bank in Nigeria. The bank is one of the commercial banks licensed by the Central Bank of Nigeria, the national banking regulator.