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FIDELITY Bank Plc management has assured its teeming customers and investors that the bank is not facing any form of bankruptcy over the Supreme Court judgement.
In a Press Release by the bank on Monday, May 19, 2025, the said the claim of bankruptcy against Fidelity Bank by a section of the media was unfounded and misleading.
“We would like to address recent misleading reports regarding a court judgment involving the defunct FSB International Bank, which have wrongly suggested that Fidelity Bank is facing bankruptcy. These claims are unfounded, and we want to assure our customers, investors, and the public that Fidelity Bank remains financially strong, profitable, and fully capable of meeting all its obligations.
The issue stems from a legacy transaction from 2002, in which FSB International Bank provided a loan to G. Cappa Plc. The case has undergone extensive legal processes, and we are currently seeking clarification on the judgment to ensure that the financial implications are correctly understood.
We take these malicious reports seriously and are committed to protecting our bank’s reputation and the interests of our stakeholders.
Rest assured, Fidelity Bank continues to operate as one of Nigeria’s most capitalized financial institutions, with no risk of bankruptcy.
Our Q1 2025 financial results clearly demonstrate our robust position.
We remain focused on our core values and are fully dedicated to supporting our customers and communities. Thank you for your continued trust in Fidelity Bank.”
Meanwhile, the Central Bank of Nigeria, CBN has also assured the public that no bank is insolvent as being speculated.
The CBN in a Press Release signed by the Ag. Director, Corporate Communications, Hakama Sidi Ali (Mrs.) monitored by SOJ WORLDWIDE, the CBN assured “the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound.”
“The CBN wishes to categorically reassure the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound. Like all other regulated institutions, the institution referenced in these reports is held to stringent regulatory requirements, and there is no cause for concern regarding the safety of depositors’ funds.
The Bank affirms that it continues to monitor all financial institutions under its regulatory purview and maintains robust frameworks for early warning signals and risk-based supervision. These mechanisms ensure that any emerging issues are promptly addressed to protect the integrity of the financial system.
We urge the public to disregard sensational or unverified claims and rely solely on official channels for information about the financial system.
The CBN remains dedicated to fostering a secure banking environment where depositors can be fully confident in the safety of their funds. It will continue to monitor and adapt strategies to safeguard the financial interests of all Nigerians and stakeholders in our financial system.”
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