No Hidden Funds In Our Custody, Keystone Bank Replies Dino Melaye

MICHAEL AKINOLA

Keystone Bank Limited has denied having in its custody any illegally hidden money belonging to the Federal Government of Nigeria or any of its agencies.

Keystone Bank, in a statement Tuesday signed by its General Counsel & Company Secretary, Dr. Michael Agamah, refuted the allegation made by Senator Dino Melaye that the bank has colluded with the Nigeria National Petroleum Corporation (NNPC) to conceal about $137 million and thereafter illegally withdrew $4 million.

Coming under Order 42, Melaye raised the petition as he alleges that NNPC is making dubious transactions with the bank.

“While some individuals and government appointees would continue to steal, we have decided to continue to expose corruption in public life,” Melaye alleged.

“This morning I draw to the attention of the Nigerian senate to a suspected colossal, monumental corruption in NNPC. Mr. President, a company was registered with the name Brass NLG Limited with the federal government having controlling shares and we have some Italians, Belgians, French people who are shareholders with the federal government in controlling shares of about 50 per cent.

“It is known fact that once you have a joint venture, the account of such joint venture should be domiciled with the Central Bank of Nigeria. But in this case, that was not what happened. An account was opened with Keystone Bank, this account has no BVN and there have been periodic withdrawals.

“The last withdrawal from that account was to the tune of $4 million. As I speak to you, the balance of that account as at today is $137 million.”

But in its reaction, Keystone Bank stated: “We wish to state categorically that Keystone Bank Limited has never illegally hidden or withdrawn any amount of money belonging to the Federal Government or any of its agencies.”

“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 statement also added that “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 and had since been engaging with relevant agencies to remit all funds in the Bank’s custody”.