We have been following the trending news about the bank account of “TakeBackNaija Initiative “ domiciled in Keystone Bank Limited, and the insinuations that have followed closure of the said account. We wish to state the following facts for the records:
- 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 recognize 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.