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Fidelity Bank has dismissed bankruptcy claims linked to a legacy $3 million facility inherited from defunct FSB Bank. The bank insists it's financially sound and seeking court clarification on its share of the judgment liability.
  • Fidelity says media reports on its bankruptcy are misleading and violate court orders on the pending case.
  • The $3m credit facility was originally granted to G. Cappa Plc in 2002, sparking years of litigation.
  • The bank’s Q1 2025 results showed a 167.8% profit rise and N6.6 trillion in total deposits.

The controversy has sparked concern among customers and investors. However, Fidelity Bank reassures stakeholders of its strength, citing recent financial growth and a robust recapitalisation programme. Many Nigerians are watching closely, hoping trust in the banking sector holds firm.

Fidelity awaits judicial clarification on its liability in the case. Can Nigerian banks strengthen trust amid legacy financial disputes and rising misinformation in the digital space?