The Federal Government Did Not Order Keystone Bank To Close The “TakeBackNaija” Account, Per Management

A claim made by the political party “TakeBackNaija Initiative” that the Federal Government had ordered the closure of its bank accounts because the group supported Labour Party (LP) presidential candidate Mr. Peter Obi has been refuted by Keystone Bank Limited.

The lender refuted the claim in a statement released by Keystone Bank Management and provided to media on Monday, emphasizing that at no point did the Federal Government or anyone else direct them to close the alleged account.

The Bank said that it canceled the account because “it was opened improperly and in violation of the applicable regulatory requirements.”

“Funds received into this account have been returned to their sources of origin in accordance with applicable regulatory standards on treatment of such irregular accounts,” the statement reads. While we acknowledge that every member of our nation has the right to freely join with others in the pursuit of similar goals, we also feel that, as an institution subject to supervisory regulations, it is critical that we always behave within the bounds of established regulations.