The management of Keystone Bank Limited has insisted that the lender did not and has never hidden any fund belonging to the Federal Government or its agencies.

It will be recalled that Justice Chuka Obiozor had ordered seven banks to remit the various sums allegedly being kept illegally in their custody to the designated Federal Government’s Asset Recovery dollars account domiciled with the Central Bank of Nigeria, CBN.
The banks in question were United Bank for Africa, UBA; Diamond Bank Plc; Skye Bank Plc; First Bank Limited; Fidelity Bank Plc; Keystone Bank Limited; and Sterling Bank Plc.

Some of these banks have disputed this allegation.

In a statement, Keystone Bank also said : “In response to the news making the rounds that the Federal High Court sitting in Lagos had made an order directing Keystone Bank Limited to remit the sum of $17m allegedly illegally kept in its custody to the TSA, we wish to state that:

“Keystone Bank has never illegally hidden any amount of money belonging to the Federal Government or any of its agencies.

“Details of all Federal Government funds in custody of Keystone Bank had always been fully disclosed to all relevant Federal Government agencies and at no time did Keystone Bank collude or ‎conspire with any official of the Federal Government to disobey the Federal Government directives on the TSA.

“We are taking appropriate steps to respond to the issues raised in the Court Order.”