We’ll operate under CBN guidelines, says Keystone Bank as new CEO takes over

Keystone Bank says it will continue to operate under the guidelines of the Central Bank of Nigeria (CBN) as a new management team, led by Hassan Imam, takes over.

In a statement on Friday by the company’s secretary, the bank said it is committed to serving customers and reassured its stakeholders, and partners across the country of unhindered and smooth running of its operations.

“Following the Central Bank of Nigeria’s appointment of a new Managing Director and Chief Executive Officer for Keystone Bank, Mr. Hassan Imam, we would like to assure the general public of Keystone Bank’s continued operations within the guidelines of the CBN under the direction of the bank’s new leadership,” the statement reads.

“Keystone Bank continues to operate in all its branches and across all channels.

“We assure our stakeholders, including customers, partners, and other stakeholders, that we are fully committed to serving them, as we remain dedicated to the safety of our customers’ deposits, financial well-being, and upholding the trust placed in us by our stakeholders.”

According to the bank, prior to his appointment as CEO, Imam, who has over 25 years of banking experience, served as the executive director of the north directorate at Fidelity Bank, since January 2020.

Imam also holds a bachelor’s degree in Economics and three other master’s degrees, including an MBA which he obtained from Business School Netherlands. He is also a member of the chartered public accountant.

The bank’s statement followed the recent shake-up of the management board of three financial institutions — Keystone, Union, and Polaris — by the CBN.

On January 10, 2023, the financial regulator dissolved the boards of the aforementioned banks, citing some infractions ranging from regulatory non-compliance, corporate governance failure, disregarding the conditions under which their licenses were granted, and involvement in activities that pose a threat to financial stability, among others.

Less than 24 hours later, the apex bank appointed new executive officers.