Keystone Bank has confirmed that it is now fully owned by the Federal Government of Nigeria following a court ruling on February 11, 2025, which ordered the forfeiture of shares previously held by its former shareholders, Sigma Golf Nigeria Limited and Alhaji Umaru H. Modibbo.

The bank announced the development in a statement on Instagram, describing it as a significant step toward enhancing stability and facilitating its recapitalisation process. The statement clarified that the ruling by the Lagos State High Court in Ikeja transferred ownership to the Federal Government.

Keystone Bank expressed confidence that this change would reinforce its stability and long-term growth prospects, stating, “With this clarity, we are well-positioned for sustained growth, stronger partnerships, and enhanced profitability.”

The bank reassured customers of its financial health, adding, “We assure our customers that the bank remains safe, healthy, strong, and resilient.”

This move follows the dissolution of Keystone Bank’s board and management by the Central Bank of Nigeria on January 10, 2024, with new leadership subsequently appointed.