The Central Bank of Nigeria (CBN) say its attention has been drawn to certain publications and social media reports containing misleading information regarding the operations of a regulated financial institution.
The CBN in a statement categorically reassure the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound. Hakama Sidi Ali, Acting Director, Corporate Communications of the bank in a statement Monday night said, “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”.
Sidi-Ali urged the public to disregard sensational or unverified claims and rely solely on official channels for information about the financial system.
The statement added that 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.
News broke out early Monday via online platforms that Fidelity bank faces bankruptcy as the Supreme Court orders it to pay N225 billion damages to Nigerian firm.
That story sent investors dumping the shares of Fidelity Bank Plc on Monday and the shares slid by 3.85 percent on Monday.
Fidelity Bank in a statement on Monday, said its attention has been drawn to the publication on the Peoples Gazette Titled “EXCLUSIVE: Fidelity faces bankruptcy as Supreme Court orders banking giant to pay N225 billion damages to Nigerian firm”.
The bank’s 9.413million shares valued at N799.699 million were exchanged on Monday, making it second most traded stock on the NGX.
Having exhausted the appeal process, the Bank said it is willing to settle the obligation.
Fidelity Bank Plc’s Divisional Head, Brand and Communications, Meksley Nwagboh who signed the statement said, “By way of a background, we confirm that the issues leading up to the judgment arose from a legacy transaction between the defunct FSB International Bank and Sagecom Concepts Limited. FSB granted a credit facility to G.Cappa Plc in 2002 for the sum of USD3 million.
Having exhausted the appeal process, the Bank said it is willing to settle the obligation.
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