posted 20th May 2025
Fidelity Bank Denies Bankruptcy Rumors, CBN Affirms Banking Sector Stability
Nigeria – 20 May 2025 – The Central Bank of Nigeria (CBN) has released a statement addressing recent concerns and misinformation about the Nigerian banking sector, particularly rumours involving Fidelity Bank. The statement follows unverified claims of a Supreme Court ruling allegedly implicating Fidelity Bank, which sparked widespread speculation about its financial stability.
In its press release dated 19 May 2025, the CBN, through Acting Director of Corporate Communications Hakama Sidi Ali (Mrs.), firmly reassured the public, depositors, and stakeholders of the resilience, safety, and soundness of the Nigerian banking sector. The CBN stressed that there is “no cause for concern regarding the safety of depositors’ funds,” affirming its ongoing efforts to monitor all financial institutions under its regulatory oversight. The Bank also highlighted its robust frameworks for early warning signals and risk-based supervision to ensure emerging issues are addressed promptly, safeguarding the integrity of the financial system.
The CBN urged the public to disregard “sensational or unverified claims” and to rely solely on official channels for information about the financial system. “The CBN remains committed to fostering a secure banking environment where depositors can have full confidence in the safety of their funds,” the statement read, adding that the Bank will continue to adapt strategies to protect the financial interests of all Nigerians and stakeholders.
The rumours about Fidelity Bank gained momentum following unverified reports of a Supreme Court ruling, though no official details of such a ruling have been confirmed. In response, Fidelity Bank promptly issued its own statement on its official X account (@fidelitybankplc) on 19 May 2025, to counter the speculation. The bank stated, “Fidelity Bank remains one of the most well-capitalised and profitable financial institutions in Nigeria, with expanding international operations. Fidelity Bank is not subject to any form of bankruptcy proceedings and continues to meet all its legal and financial obligations without exception.”
Fidelity Bank further supported its position by referencing its Q1 2025 financial results, which it claims demonstrate “consistent performance and resilience.” These results are publicly available for review, reinforcing the bank’s commitment to transparency. The statement concluded with a reaffirmation of Fidelity Bank’s dedication to maintaining the highest standards of financial stability, transparency, and service excellence.
The CBN’s press release and Fidelity Bank’s statement aim to restore public confidence amidst the rumours, which some analysts suggest may have been fuelled by misinformation on social media. The swift response from both institutions underscores the importance of clear communication in maintaining trust in Nigeria’s financial system.
As the situation unfolds, stakeholders are encouraged to refer to official statements from the CBN and Fidelity Bank for accurate updates. For now, both the regulator and the bank remain steadfast in their commitment to ensuring stability and protecting depositors’ interests in the Nigerian banking sector.
