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Why We Closed Peter Obi’s Campaign Donation Account – Keystone Bank



Keystone Bank Limited on Monday debunked a statement credited to a political group, “TakeBackNaija Initiative”, which alleged that the Federal Government ordered the closure of its account with the Bank for supporting the presidential candidate of the Labour Party, Mr Peter Obi.

In a statement issued by Keystone Bank’s management on Monday, the lender denied the allegations, stressing that at no time did the Federal Government or anyone order it to close the said account.

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Keystone Bank said it closed the account because it was irregularly opened contrary to extant regulatory guidelines.

“In line with applicable regulatory guidelines on the treatment of such accounts with irregularities, funds received into this account have been returned to their sources of origin.

“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,” the statement said.

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