Tuesday, May 20, 2025 - The Central Bank of Nigeria has dismissed rumours circulating on social media suggesting that Fidelity Bank is facing bankruptcy.
In a statement by the acting director of corporate
communications, Hakama Sidi Ali, the apex bank described the claims as
misleading and reassured the public that Nigeria’s banking sector remains
resilient, safe, and sound.
The clarification follows reports that the Supreme Court
ordered Fidelity Bank to pay N225 billion in damages to Sagecom Concept
Limited, which triggered speculation about the bank’s financial health.
“The attention of the Central Bank of Nigeria has been drawn
to certain publications and social media reports containing misleading
information regarding the operations of a regulated financial institution,” the
statement said.
“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 bank
referenced in these reports is subject to stringent regulatory oversight, and
there is no cause for concern regarding the safety of depositors’ funds.
The bank also emphasized that it has robust monitoring
systems in place, including early warning signals and risk-based supervision,
to promptly address any emerging issues in the financial system.
“We urge the public to disregard sensational or unverified
claims and rely solely on official sources for accurate information,” it added.
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