The Federal Government has taken full ownership of Keystone Bank.

This is according to a statement by the bank posted on its X handle on Tuesday evening.

It read, “Keystone Bank Limited wishes to clarify media report of a judgement by the Lagos State Special Offences Court, sitting in Ikeja, Lagos, on Tuesday, February 11, 2025, regarding the status of the former shareholders of the bank: Sigma Golf Nigeria Limited and Alhaji Umaru H. Modibbo.

“Recall that on January 10, 2024, the Central Bank of Nigeria (CBN) announced the dissolution of the previous Board and Management of the Bank for corporate governance breaches. The CBN followed this action with the appointment of a new Board and Management for the Bank.

“Subsequently the Federal Government through the EFCC filed a court action at the Lagos State High Court, Ikeja, against the former owners challenging the acquisition of the bank. At the sitting of the court today, February 11, 2025, the court ordered the forfeiture of the shares of the Bank previously held by the shareholders in favour of the Federal Government of Nigeria. The implication of this judgment is that Keystone Bank Limited is now fully owned by the Federal Government of Nigeria.”

Describing the development as a “significant milestone in our journey,” the bank said the move is “paving the way for a seamless recapitalization process”.

“With this clarity, we are well-positioned for sustained growth, stronger partnerships, and enhanced profitability. Keystone Bank continues to strengthen its balance sheet while delivering exceptional value to its teeming stakeholders,” the statement read.

“The bank maintains a strong financial position, consistently fulfilling all its obligations and adhering to all regulatory requirements. We assure our customers that the bank remains safe, healthy, strong, and resilient.”

Reports from various news platforms indicates that the Chief of Staff, Julius Debrah, has rescinded all public service appointments and recruitments that occurred after December 7, 2024.

According to the scanty details so far, this information was contained in a confidential letter that has been sent to all heads of government institutions.

It will be recalled that the Office of the President directed all heads of government institutions to submit detailed records of staff members added to their payrolls since December 7, 2024.

This request, issued on January 15, 2025, was part of ongoing efforts by the John Mahama administration to strengthen transparency and integrity within the government’s payroll system.

A letter signed by Julius Debrah, Chief of Staff, outlined the specific information required for each new employee.

Heads of institutions were to provide the full names, designations or job titles, employee identification numbers (if applicable), date of appointments, and the date the employees were added to the payroll.

The directive emphasized the importance of this exercise in maintaining accountability in the management of public funds.

Heads of institutions were required to submit the requested data to the Office of the President by January 31, 2025.

“In line with ongoing efforts to ensure the accuracy and integrity of government payroll records under the John Mahama administration, I am writing to request your assistance in providing information on staff who have been added to your Institution’s Payroll since Saturday 7th December 2024,” part of the statement said.

The statement continued, “This information is critical to maintaining transparency and accountability in our payroll, management processes. Kindly ensure that the requested data is submitted to my office no later than Friday 31st January 2025.

“Should you require further clarification or have any questions regarding this directive, please do not hesitate to contact us. Your cooperation in this important matter is highly appreciated.”

Source: www.ghanaweb.com

The Nigeria Police Force has arrested and detained popular TikToker Gabriel Timothy, known online as Tumma, over a comment he made regarding police directives on insulting government officials.

Tumma was taken into custody at about 6:30 PM on Thursday, February 6, 2025, by a team of stern-looking officers from the Berger Quarry Police Station in Mpape, Abuja.

It was learnt that following his arrest, Tumma was transferred to the Cyber-Crime Centre of the Nigeria Police Force, where he is currently being held.

The arrest is linked to a viral statement he made, claiming that the police had announced that anyone who insults government officials should be arrested.

In a video, Tumma said, “If any officer says he wants to check your phone, beat him. Even if the Commissioner of Police or President Tinubu says he wants to check your phone, beat him very well.”

He emphasised that a mobile phone is a personal possession.

Tumma in another video said, “Nigerian commissioner (Inspector General, Kayode Egbetokun) of police wuwaka, your papa.”

He also directed his anger at President Ahmed Bola Tinubu, Vice President Kashim Shettima, National Chairman of the ruling All Progressives Congress (APC), Abdullahi Ganduje, Senate President Godswill Akpabio and Lagos Governor, Babajide Sanwo-Olu.

He dared them to arrest him.

https://www.tiktok.com/music/original-sound-7460372862785506054?refer=embed

Meanwhile, his lawyer, S. M. Oyeghe, Esq., an Abuja-based human rights attorney, informed the media that the arrest was not based on any petition. Instead, the police acted on their own accord, as the allegations in the video implicate them and other influential Nigerians.

“I just confirmed from the brother who was there when his statement was taken- he confirmed there was no formal petition against him rather he was only confronted with the TikTok video,” he said.

Oyeghe said he visited the team in charge of the matter on February 11, 2025 and thereafter visited the suspects alongside his brothers – Gabriel Smart Victor and Innocent Gabriel – the FCID, where he is being detained.

“Till the time of the visitation, Gabriel Timothy is yet to be admitted to bail and the police have shown clear unwillingness to admit him to bail,” Oyeghe added.