The management of Keystone Bank has reacted to trending news about the closure of the bank account of “TakeBackNaija Initiative” domiciled with the bank, decrying the insinuations that have trailed the bank’s decision.
However, the management has stated the reasons that informed the closure of the said “TakeBackNaija Initiative” bank account thus:
The Federal Government of Nigeria did not order Keystone Bank Limited to close the account, and at no time was such a statement issued by the bank;
Keystone Bank Limited 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; and
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 management therefore, assured every Nigerian irrespective of background or beliefs that the bank is open to doing business with them, adding “but we owe the public a duty to conduct our business in a safe manner.”
