Fidelity Bank, a longstanding pillar in Nigeria’s financial landscape, has forcefully debunked rumors of bankruptcy that have been circulating in recent days. The speculation, which seems to have been fueled by misinterpretations of a Supreme Court ruling tied to a legacy debt from the defunct FSB International Bank, prompted the bank to issue a comprehensive press release yesterday. Fidelity Bank is standing firm, assuring customers, investors, and the public that it remains financially sound and fully operational. The full press release as seen on their official X handle says:
“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
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 concem 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. lt 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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