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AMCON Sells Keystone Bank to Nigerian Investors, Marking a New Era in Domestic Banking Ownership

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The Asset Management Corporation of Nigeria (AMCON) has officially completed the sale of Keystone Bank Limited to a group of Nigerian investors, a development widely regarded as a major milestone in the country’s financial and banking sector. The transaction represents a significant step in the Federal Government’s long-standing efforts to reduce direct involvement in commercial banking while promoting indigenous ownership and private sector participation. Keystone Bank, one of Nigeria’s mid-tier commercial banks, had been under AMCON’s control since 2017 following regulatory intervention by the Central Bank of Nigeria (CBN). The takeover was part of broader measures aimed at stabilizing the financial system after governance and capital adequacy challenges threatened the bank’s operations. Since then, AMCON has overseen the bank’s restructuring, recapitalization, and operational reforms, paving the way for its eventual divestment. A Strategic Exit for AMCON AMCON was established i...

Show others how its done, upscale endeavors in handling uncertainty - Matawalle charges recently advanced Armed force officials


The Minister of State for Defence, Dr Bello Matawalle, has charged recently advanced senior officials of the Nigerian Armed force to show praiseworthy authority and strengthen endeavors in the battle against frailty, particularly in the North West and other disturbed aspects of the country.


Significant General Onyema Nwachukwu, Chief, Armed force Advertising, in a proclamation said the Minister gave the charge at the induction service of 47 recently elevated Brigadier Commanders to the position of Significant General at the Military Base camp Order Officials' Wreck 1, Asokoro, Abuja.


As per the assertion, the minister noted that their advancement was a demonstration of their boldness, commitment to obligation and difficult work, adding that it is a compensation for constancy, proficient lead and sacrificial penances.


He featured the requirement for the recently elevated senior officials to show others how its done, move their subordinates and team up with other security organizations to overcome the security challenges in the country.


The minister recognized the thorough course of choosing the advanced senior officials, mirroring their excellent authority abilities, key reasoning and indepth figuring out over their vocations.


He noticed that their commitments to the Military are significant and communicated trust in their persistent support of the country.


Praising the senior officials for the benefit of President Bola Ahmed Tinubu, Matawalle guaranteed of the Central Government's satisfactory government assistance mediations and proceeded with help to the Military of Nigeria.


In his comments at the induction, the Head of Armed force Staff (COAS), Lt Gen Taoreed Lagbaja, congratulated with the recently advanced senior officials on their merited rise and noticed that their skills, perseverance and devotion procured them their advancement.


He valued the mates and groups of the raised senior officials for their comprehension and backing, as well as adapting to nonappearance of guardians, consistently isolated by obligation to country.


The Military Boss featured the requirement for each staff to increase his profession way and reminded the recently raised senior officials of the colossal obligations that accompany their new position.


He encouraged them to continually look for information on discretionary, monetary and political elements, to be coherent and objective in their commitments to the Military, similarly as he charged the senior official to be faithful to the constitution of the Government Republic of Nigeria.

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