CBN, Fidelity Bank assure public of financial stability amidst misinformation

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The Central Bank of Nigeria (CBN) has reassured the public that the Nigerian banking sector remains resilient, safe, and sound. This clarification follows certain publications and social media reports containing misleading information regarding the operations of a regulated financial institution.

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“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,” the CBN stated. “These mechanisms ensure that any emerging issues are promptly addressed to protect the integrity of the financial system.”

The CBN urged 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 added.

The statement comes amid reports suggesting that Fidelity Bank may be facing financial instability following a Supreme Court ruling. However, Fidelity Bank has denied these claims, stating that it remains financially strong and fully capable of meeting all its obligations.

“We would like to address recent misleading reports regarding a court judgement involving the defunct FSB International Bank, which have wrongly suggested that Fidelity Bank is facing bankruptcy,” the bank stated. “These claims are unfounded.”

Fidelity Bank maintained that it is seeking clarification on the Supreme Court judgement to determine its financial implications and reiterated its confidence in its sound financial position. “Fidelity Bank continues to operate as one of Nigeria’s most capitalised financial institutions, with no risk of bankruptcy,” the statement read.

The bank also referenced its recent financial performance, noting that its Q1 2025 results demonstrate a solid capital base and sustained profitability. “We remain focused on our core values and are fully dedicated to supporting our customers and communities,” the statement concluded.

The CBN and Fidelity Bank’s statements aim to reassure the public and stakeholders of the stability and security of the financial system, emphasizing the importance of confidence in the banking sector for long-term economic stability

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