The Central Bank of Nigeria has dismissed financial ruin claims make on social media about a Fidelity Bank. In a declaration on Monday by using the apex bank’s performing spokesperson, Hakama Sidi Ali, assured that Nigeria’s banking area remained resilient, secure, and sound.
The rationalization comes amid reports that advocate that Fidelity is going through financial disaster, because the Supreme Court had ordered the financial group to pay N225 billion in damages to Sagecom Concept Limited.
CBN state Fidelity Bank claims are misleading
However, CBN described the claim making the rounds as misleading and advised the public to dismiss ‘sensational and unverified claims.’
“The interest of the Central Bank of Nigeria (CBN) interested in positive guides and social media reports containing deceptive information regarding the operations of a legal financial group.
“The CBN desires to categorically reassure the public, depositors, and stakeholders that the Nigerian banking region remains resilient, safe, and sound. Like all other regulated groups, the institution referenced in those reports held to stringent regulatory necessities, and there is no reason for subject regarding the safety of depositors’ budget.
How does Bank response
“The Bank confirms that it keeps to reveal all financial institutes under its regulatory purview and maintains robust frameworks for early warning alerts and risk-based supervision. “These mechanisms make sure that any emerging issues are promptly addressed to protect the integrity of financial system.
“We urge the public to dismiss sensational or unverified claims and rely on official channels for data around the financial system. The CBN stays devoted to fostering a strong banking environment in which depositors can be completely confident in the security of their budget. “It will hold to monitor and adapt strategies to safeguard the financial history of Fidelity Bank in our economic system,” the declaration reads.
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