Alleged N14bn Damages : CBN Assures Public , Denies Allegations Against Fidelity Bank Plc
The Central Bank of Nigeria, CBN has reassured the banking public that the banking sector remains resilient, safe, and sound.
The CBN gave this assurance in a statement signed by Hakama Sidi Ali (Mrs.)Ag. Director, Corporate Communications.
The statement said: “The attention of the Central Bank of Nigeria (CBN) has been drawn to certain publications and social media reports containing misleading information regarding the operations of a regulated financial institution ( Fidelity Bank)
“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.”
Fidelity Bank Press Statement
Fidelity Bank remains one of the most well-capitalised and profitable financial institutions in Nigeria, with expanding international operations. Fidelity Bank is not under any form of bankruptcy proceedings and continues to meet all its legal and financial obligations without exception.
This position of strength is further validated by our Q1 2025 financial results, which reflect consistent performance and resilience. These results are publicly available for review.
Fidelity Bank remains committed to maintaining the highest standards of financial stability, transparency, and service excellence.
This statement is coming on the heels of an alleged N14bn damages awarded against the bank by the Supreme Court over a deal involving two companies
