Fidelity Bank debunks bankruptcy rumours, reaffirms financial strength

Fidelity Bank Plc has firmly refuted recent media reports suggesting that the bank is facing bankruptcy following a Supreme Court judgment related to a legacy case.

The bank described the claims as “misleading, unfounded, and malicious,” assuring customers, investors, and the public of its continued financial strength and operational stability.

In an official statement, Fidelity Bank addressed the concerns raised by a section of the media, clarifying that the situation involves a legacy transaction dating back to 2002 involving the now-defunct FSB International Bank and a loan to G. Cappa Plc.

“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,” the bank stated.

“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.”

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The bank noted that while it is currently seeking legal clarification on the financial implications of the Supreme Court’s judgment, the case does not pose any threat to its operational or financial standing.

“We take these malicious reports seriously and are committed to protecting our bank’s reputation and the interests of our stakeholders,” the statement continued.

Fidelity Bank emphasized its position as one of Nigeria’s most capitalized financial institutions and pointed to its Q1 2025 financial results as proof of its robust financial health and sound performance.

“Rest assured, Fidelity Bank continues to operate as one of Nigeria’s most capitalized financial institutions, with no risk of bankruptcy,” the statement added.

In a related development, the Central Bank of Nigeria (CBN) has also moved to calm public concerns, affirming that no Nigerian bank is insolvent. The apex bank urged the public to ignore speculative and unverified reports regarding the health of the financial sector.

In a press release signed by the Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, the CBN stressed that Nigeria’s 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,” the statement read.

The central bank added that all financial institutions under its regulation are subject to strict supervisory oversight, risk-based assessments, and early warning mechanisms to identify and address any emerging financial issues swiftly.

“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,” it added.

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The CBN also urged the public to rely on verified information disseminated through official channels and not to be swayed by sensational headlines or unofficial reports.

“We urge the public to disregard sensational or unverified claims and rely solely on official channels for information about the financial system,” it said.

The coordinated responses from both Fidelity Bank and the CBN have helped to reaffirm public confidence in the resilience of Nigeria’s financial system.

As one of the top-performing banks in the country, Fidelity Bank continues to position itself as a key player in driving financial inclusion, innovation, and economic growth.

Both institutions reiterated their shared commitment to ensuring that depositors’ funds are safe and that Nigeria’s banking sector remains a secure pillar of economic stability.