Revealed: Why Nigerian government took over Keystone Bank

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade. Keystone Bank has disclosed that it is now fully owned by the federal government of Nigeria, saying that the takeover will boost its stability and facilitate a hitch-free recapitalisation process. The bank revealed this in a statement on social media on Tuesday, February 11, 2025, following an order of the Lagos State High Court. It also reassured its customers of sound financial health and regulatory compliance. The statement further noted that the rebranding shows FirstHoldCo’s commitment to innovation, customer focus, and operational excellence.