Modupe Gbadeyanka
By Modupe Gbadeyanka
One of seven commercial banks accused of hiding $793.2 million belonging to the Federal Government, Keystone Bank Limited, has denied the allegation.
The lender, in a statement issued on Friday afternoon in Lagos, said it never concealed the funds meant to be transferred into the Treasury Single Account (TSA).
“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 $17 million allegedly illegally kept in its custody to the TSA, we wish to state that Keystone Bank has never illegally hid any amount of money belonging to the Federal Government or any of its agencies,” the bank said.
On Thursday, the Federal High Court in Lagos ordered seven commercial banks to temporarily remit a total of $793.2 million allegedly hidden by them in contravention of the Federal Government’s TSA policy.
Reacting further in the statement, Keystone Bank explained that, “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.
“The lender informed its stakeholders that it would not conduct itself in breach of the laws or policies of the government, including the TSA policy.
“We are taking appropriate steps to respond to the issues raised in the Court Order,” the statement added.
