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Tag: Keystone Bank

  • Nigerian Economy: Keystone Bank Chairman, Lady Chukwudozie canvasses for digital banking

    Nigerian Economy: Keystone Bank Chairman, Lady Chukwudozie canvasses for digital banking

    The Chairman of Keystone Bank PLC, Lady Ada Chukwudozie, has emphasised the need for innovation in the banking sector, to tackle the nation’s economy.

    During the bank’s annual end-of-year dinner party held in Lagos at the weekend, Lady Chukwudozie highlighted that digital transformation was one of the significant achievements the bank has accomplished the year 2024.

    Lady Chukwudozie said, “This year, we have navigated many challenges, but we have also seized countless opportunities. Our accomplishments have been significant, ranging from innovative advancements in digital banking to strengthening our relationships with our valued customers and stakeholders. While enhancing our reputation as a customer-focused institution.

    “This opportunity has provided me with the chance to join in building upon the solid foundation that has been laid. Tonight, I’d like to share some of the accomplishments that have made this year one to remember, all of which have been possible thanks to the strong partnerships we’ve built, and outline our vision for the future.

    “Under our leadership, Keystone Bank has made remarkable strides in several key areas – Digital Transformation, Market Expansion, Sustainability and Corporate Responsibility, Human Capital Development, amongst others.

    While stressing that, the bank has scored some milestones through its digital transformation, Lady Chukwudozie said, “the bank currently ranks very high in digital channels experience according to the KPMG Banking Industry Customer Experience Survey (BICX) 2023 across digital channels (USSD – 1st, Mobile App 3rd, Internet 2nd, ATM 2nd”.

    She said, “Keystone Bank ranked top three for customer journey phases covering account opening, transacting, product purchase, complaints resolution and relationship management. I believe the Bank can leverage its digital appeal to attract customers investors, and attain optimal commercial success as we journey into a new fiscal year”.

    Lady Chukwudozie, who also serves as the Chairman of the Manufacturers Association of Nigeria (MAN) for Anambra, Enugu, and Ebonyi Zone,
    mentioned that the bank planned to concentrate on expanding its digital offerings in the upcoming year.

    “As we move into the next year, we shall do so with a renewed sense of purpose and continued focus on strengthening our partnerships. The world around us is changing rapidly, and as a Bank, we shall remain agile and adaptive to the evolving market dynamics. Our strategy for the coming year will focus among others, expanding digital offerings; Sustainable Finance and Strengthening Partnerships,” she said.

    The Chairman appreciated the board, employees, stakeholders and customers for their unwavering support, which she noted has fueled the progress of the bank.

    “None of this would be possible without the unwavering support of our Board, executive leadership, and of course, you—our loyal employees/stakeholders. I want to particularly recognize the efforts of our staff, who have shown incredible resilience and dedication in the face of challenges. Your passion and drive are the lifeblood of Keystone Bank, and I do not doubt that together, we will continue to achieve greater things.

    “To our customers, thank you for your trust and loyalty. Our partnership with you is invaluable, and we are committed to continuously improving and providing you with the best financial solutions to meet your evolving needs,” Lady Chukwudozie added.

    The event was attended by Governor of Lagos State, Jide Sanwolu; his Zamfara State counterpart, Dauda Lawal; Benue Deputy Governor, Sam Ode; Labour Party Presidential Candidate, Mr. Peter Obi; former Governor of Sokoto State, Senator Aminu Tambuwal; President of MAN, Otunba Francis Meshioye; and former Minister of Interior, Capt. Emmanuel Iheanacho.

    Other dignitaries include, Emir of Zazzau, Ahmed Nuhu Bamalli CFR; Traditional Ruler of Ezinifite, Igwe Bob Eze; Publishers of Champion Newspaper, Mr & Mrs Uche Iheakanwa; Prince Chris Igwe, Chef Chidi Anyaegbu of Chisco Motors, Chief Martin Agbaso Ochudo of Igbo land, Elder & Barr. Mrs Ngozi Ekeoma, Mahmud Tukur, Nkiru Anumudu, Mrs Uredi, Captains of industries, amongst others.

  • CBN appoints new executives for Union, Keystone, Polaris banks

    CBN appoints new executives for Union, Keystone, Polaris banks

    The Central Bank of Nigeria (CBN) has appointed new executives for Union Bank, Keystone Bank and Polaris Bank.

    Mrs Hakama Sidi-Ali, Acting Director, Corporate Communications Department of the CBN, disclosed this in a statement on Wednesday in Abuja.

    This follows the dissolution of the board and management of Union Bank, Keystone Bank and Polaris Bank.

    The newly appointed executives are to oversee the affairs of the banks, according to Mrs Sidi-Ali.

    Yetunde Oni was appointed the Managing Director/Chief Executive Officer of Union Bank with Mannir Ubali Ringim as Executive Director.

    For Keystone Bank, Hassan Imam was appointed Managing Director/Chief Executive Officer with Chioma A. Mang as Executive Director.

    Lawal Mudathir Omokayode Akintola was appointed Managing Director/Chief Executive Officer of Polaris Bank

    with Chris Onyeka Ofikulu as Executive Director.

    “The appointments take immediate effect,” the statement by Sidi-Ali reads.

    Recall that the CBN had dissolved the boards and management of Union Bank, Keystone Bank, and Polaris Bank.

    According to Sidi-Ali, this action became necessary due to the non-compliance of the three banks and their respective boards with the provisions of Banks and Other Financial Institutions Act, 2020.

    She said that the banks’ infractions varied from regulatory non-compliance, corporate governance failure, and disregarding the conditions under which their licenses were granted.

    She said that the managements of the affected banks also got involved in activities that posed a threat to financial stability.

    “The CBN assures the public of the safety and security of depositors’ funds and remains resolute in fulfilling its mandate to uphold a safe, sound, and robust

    financial system in Nigeria.

    “Our banking system remains strong and resilient,” she said.

  • UPDATED: CBN sacks mgt of Union Bank, Keystone Bank, Polaris Bank

    UPDATED: CBN sacks mgt of Union Bank, Keystone Bank, Polaris Bank

    The Central Bank of Nigeria (CBN) has dissolved the boards and management of Union Bank, Keystone Bank, and Polaris Bank.

    Mrs Hakama Sidi-Ali, Acting Director, Corporate Communications Department of the CBN, disclosed this in a statement on Wednesday in Abuja.

    According to Sidi-Ali, this action became necessary due to the non-compliance of the three banks and their respective boards with the provisions of Banks and Other Financial Institutions Act, 2020.

    She said that the banks’ infractions varied from regulatory non-compliance, corporate governance failure, and disregarding the conditions under which their licenses were granted.

    She said that the managements of the affected banks also got involved in activities that posed a threat to financial stability.

    “The CBN assures the public of the safety and security of depositors’ funds and remains resolute in fulfilling its mandate to uphold a safe, sound, and robust financial system in Nigeria.

    “Our banking system remains strong and resilient,” she said.

  • Keystone Bank appoints Acting MD/CEO

    Keystone Bank appoints Acting MD/CEO

    A First-Class Bachelor’s Degree and a Master’s Degree holder in Economics from the prestigious University of Lagos, Mr Olaniran Olayinka, has been appointed as Acting MD/CEO of Keystone Bank Limited.

    A statement from the financial institution on Friday disclosed that the appointment of the former employee of PricewaterhouseCoopers was, however, subject to approval by the Central Bank of Nigeria (CBN).

    In the statement signed by the Company Secretary & General Counsel, Dr Michael Agamah, it was stated that the new appointment was in line with the lender’s strategic intent to constantly align its corporate structures and processes to support its sustained push for growth.

    With his appointment, Mr Olayinka will lead the Keystone Bank’s Executive Management to drive its strategic business and corporate goals leveraging on the robust banking experience garnered over several years across various sectors of the economy.

    Mr Olayinka, who is currently an Executive Director, has over 25 years banking experience covering Operations, Human Resources Management, Corporate Banking, Commercial Banking, Retail Banking and Institutional Banking.

    He has attended several executive courses and programmes in Banking Operations, Credit, Risk Management, Business Process Re-engineering, and Change Management, amongst others.

    Meanwhile, Chairman of Keystone Bank, Mr Umaru Modibbo, disclosed that the appointment of Mr Olayinka as Acting MD/CEO was based on the bank’s corporate philosophy and culture of optimising her human capital through sustained leadership development.

    He stated further that the bank will continue to proactively nurture and harness its existing talents to assume leadership roles in the financial institution.

  • Artiste threatens to sue Keystone Bank over alleged intellectual property theft

    Artiste threatens to sue Keystone Bank over alleged intellectual property theft

    Indications emerged on Friday that one of Nigeria’s top commercial bank, Keystone Bank may soon be enmeshed in a legal battle over alleged intellectual property theft.
    The bank in connivance with its agency, Insight Communications allegedly stole and used a song composed by an artiste, Wizzy Igbafen for its jingles without due consent and approval of the artiste.
    Igbafen in a post on her Facebook page said she had reached out to both the bank and the agency to either drop the song or officially seek permission to use it but with no response. She threatened taking legal actions soonest should the bank or its agency fail to do the needful.
    The warning message shared on her Facebook page reads:
    “With deep regret, I am making it public the case of how ‘Keystone Bank’ and their agency ‘Insight Communications’ have infringed on my copyright with regards to my song ‘So Amazing ft Cobhams’ @cobhamsasuquo which is used for Keystone Bank @keystonebankng campaign centered around ‘We Grow Together” distributed as advert / Commercial aired on CNN, Ebony Life TV, TVC and also as Facebook, Twitter and Instagram commercial (using my song – instrumental and my vocals) all without my consent.
    My legal team wrote letters to both of the listed organizations
    -‘Keystone Bank’ and ‘Insight Communications’ in the past three weeks
    and still, we were ignored and not responded to in any form. My song ‘So Amazing’ which is heavily invested on and released as audio and video, an award winning song at the 10th anniversary edition of the South South Music awards is now use as a profit making commercial song without my consent.
    Considering the way my copyright is being infringed on and yet I am ignored, no creative person deserves to be treated this way.
    If this persists, my lawyers will go to seek redress at the court of law.”
    The singer backed up her allegations with videos of her song and the Keystone Bank’s commercial in question

  • Keystone Bank MD/CEO resigns, successor named

    Keystone Bank MD/CEO resigns, successor named

    Keystone Bank Limited has announced the resignation of Mr. Obeahon Ohiwerei from office as Managing Director/CEO of the Bank, and the appointment of Mr. Abubakar Danlami Sule as Acting Managing Director/CEO.

    Mr. Sule’s appointment is subject to approval by the Central Bank of Nigeria.

    In a statement by the General Counsel and Company Secretary of the bank, Dr. Michael Agamah, on Saturday said that Mr. Ohiwerei is leaving to pursue other personal interests.

    The statement further added that the Board recognized and appreciated Mr. Obeahon’s immense contributions to the growth of Keystone Bank and the visibility the Bank had attained as a brand in the past eighteen months.

    Mr Sule is a graduate of Ahmadu Bello University, Zaria with degree in Accounting. He is a Fellow of the Institute of Chartered Accountants of Nigeria; an Honourary Member of the Chartered Institute of Bankers of Nigeria; a Governing Member of the Chartered Institute of Bankers of Nigeria; and an Alumni of both the INSEAD (France) and Wharton Business School in Pennsylvania, USA. He was until his appointment as Acting MD/CEO, the Deputy Managing Director of Keystone Bank Limited.

    He has over 29 years of cutting-edge banking experience with competences in Corporate Banking, Operations, Treasury Management, Credit Structuring, Corporate Planning, as well as possession of very strong relationship management skills.

    Mr. Sule had also served briefly as the Managing Director of Sterling Capital Limited, the Investment Banking Subsidiary of Sterling Bank Plc in 2009. While at Sterling Capital Limited, he was appointed by the CBN as part of the Executive Management team to turnaround the fortunes of erstwhile Intercontinental Bank Plc.

    He eventually returned to Sterling Bank Plc as Executive Director in charge of the North and Corporate Banking. He also worked briefly in Standard Chartered Bank Limited before he joined Keystone Bank.

  • Keystone Bank denies ownership links with Buhari, Atiku; reveals identities of investors

    Keystone Bank Limited on Tuesday reacted to allegations making the rounds that President Muhammadu Buhari and some close family relations has a stake in the bank.

    The bank insisted that either President Buhari nor former Vice President Atiku Abubakar have stakes in the bank.

    The bank, in a statement said: “The fact of the ownership of Keystone Bank by the Asset Management Corporation of Nigeria was never in doubt. On March 23, 2017, AMCON divested its ownership of Keystone Bank after successful bidding that followed due process.

    “We confirm that the Sigma Golf-Riverbank Consortium owns 100 per cent of Keystone Bank. From the records available to us which are verifiable at the Corporate Affairs Commission, the core investors (Sigma Golf Nigeria Limited and Riverbank Investment Resources Limited) have no relationship with either President Muhammadu Buhari or Alhaji Abubakar Atiku, as may be widely speculated.”

    Recall that Atiku who is the presidential candidate of the Peoples Democratic Party, recently called on the appropriate authorities to urgently institute a probe to unravel those he said might be the hidden faces behind the new ownership structure of multibillion-naira telecoms giant, Etisalat (now 9mobile) Nigeria as well as Keystone Bank.

    In a statement issued in Abuja and signed by his Special Assistant on Public Communication, Phrank Shaibu, the former Vice-President said such a probe was necessary in view of the reports that members of Buhari’s family now owned substantial shares in Etisalat (9mobile) Nigeria which had an estimated $2bn (about N727bn at 360 per dollar) of its estimated $20bn global net worth.

    Atiku also expressed shock at reports from what he described as unimpeachable sources that the first family now played big in the nation’s financial sector after acquiring mouth-watering shares in Keystone Bank with total assets of $1.916bn (equivalent to N307.5bn) as well as purchasing about N3bn worth of shares in the new Pakistani Islamic Bank.

  • Drop re-election bid, clear your name in 9 Mobile, Keystone Bank scams, PDP tells Buhari

    The Peoples Democratic Party (PDP) Presidential Campaign Organisation has called on President Muhammadu Buhari to drop his re-election bid over his alleged involvement in the acquisition of shares in a telecom giant, 9 Mobile and Keystone Bank.

    The President, the main opposition party said, no longer has the moral standing to seek re-election until he addresses the allegation.

    The presidential candidate of the PDP, Alhaji Atiku Abubakar had, in a statement on Wednesday, accused Buhari of soiling his hands in the alleged acquisition of shares in 9 Mobile and Keystone Bank Plc.

    Addressing newsmen in Abuja on Thursday, spokesman for the PDP Campaign, Kola Ologbondiyan, said the President should perish the thought of going ahead with his campaign without clearing his name.

    Stating the issue borders on Buhari’s integrity, Ologbondiyan urged the President not to bring his exulted office into disrepute.

    The campaign said: “The PDP Presidential Campaign challenges President Buhari to explain how his family members came about the sum of N1.032 trillion for this scandalous acquisition.

    “Nigerians are not interested in mere rhetoric or attempts by the Buhari Presidency to divert public attention from the issue at hand, but demand that President Buhari, who hitherto prides himself as Mr. Integrity, squarely addresses these grave issues in person.

    “This is not an issue for President Buhari’s aides to howl about in the media, it touches directly on his person, particularly his perception as a symbol of the Talakawas. He must therefore address them on this issue.

    “It is a norm that he who comes to equity must come with clean hands. President Buhari and his family members have entangled themselves in corruption.

    “Mr. President’s hands can no longer be said to be clean, until he proves otherwise.

    “The PPCO wants Nigerians and the whole world to note that President Buhari’s refusal to personally address this matter means consent.

    “We, therefore, dare President Buhari to put forth a denial on this disclosure by our candidate and we will spare no thoughts in furnishing the public with details of his corrupt activities within and outside Nigeria.”

    It added: “Our party has full details of how persons related to President Buhari, by consanguinity and affinity, have been paved the way to loot trillions of naira from government agencies for corrupt acquisition of shares in major companies, purchase expensive property within and outside Nigeria, as well as to finance their very luxury lifestyles, under Mr. President’s cover.

    “In fact, no Nigerian has made more money in the last three and half years than relations of President Buhari, many of whom have found themselves controlling stupendous wealth frittered from our economy, yet our President is asking Nigerians to get ready for more hardship in the coming year.”

  • Forex: CBN lifts ban on Keystone Bank, others

    Keystone Bank on Thursday said the Central bank of Nigeria(CBN) had readmitted it into the spot and wholesale forwards segment of the foreign exchange market.

    The bank said in a statement issued in Lagos that the CBN readmitted it sequel to the provision of evidence of sales of foreign exchange to Small and Medium scale Enterprises (SMEs).

    It also said the re-admission was because the bank had been selling to the SMEs since the introduction of the special window to such businesses.

    TheNewsGuru.com reports that the CBN on Monday banned 14 banks from the weekly wholesale spot and forwards market leaving only eight banks.

    According to the CBN, the banks were sanctioned for failure to adhere to the foreign exchage supply policy to SMEs thereby frustrating the efforts of small businesses that needed foreign exchange.

    The eight banks that were not suspended include; Access Bank Plc, Diamond Bank Plc, Fidelity Bank Plc, Heritage Bank Plc, Jaiz Bank, Sterling Bank Plc, Unity Bank Plc and Zenith Bank

    Mr Hafiz Bakare, the Acting Managing Director of Keystone Bank, said: “SMEs are an integral part of the economy of Nigeria and as such we at Keystone Bank are committed to supporting this sector.

    “We are pleased to have clarified the banks position with the CBN as we have always shown support for SMEs through our work with farmers, manufacturers, schools and other business owners.”

    Bakare said that Keystone Bank would always support CBN in ensuring the growth and development of the economy.

     

     

     

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