Buhari Has No Shares With Us, Says Keystone Bank


Keystone Bank Limited has denied allegations that President Muhammadu Buhari owns major shares in the bank.

This was in reaction to the recent call by Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP) that appropriate authorities in the country should investigate the new ownership structure of multibillion-naira telecoms giant, Etisalat (now 9mobile) Nigeria, as well as Keystone Bank.

Read Also: Investigate Buhari’s Family Alleged Ownership Of Keystone, 9Mobile – Atiku

The former vice president in a statement issued by his Special Assistant on Public Communication, Phrank Shaibu, last December said the probe was necessary in view of reports that members of Buhari’s family now owned substantial shares in major companies in the country.

But the financial institution, in a statement on Tuesday, said it has no relationship with neither Atiku nor Buhari, noting that it is fully owned by a consortium.

“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,” The Punch quoted the statement to have read.

“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.”



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