IN SHORT: Fidelity Bank has denied facing bankruptcy despite viral claims linking it to a N225.3 billion court ruling. Both the bank and Nigeria’s central bank dismissed the reports as false and misleading.
Several posts on Facebook claim that Fidelity Bank, a major Nigerian financial institution with 7.2 million customers, is facing bankruptcy after the court allegedly ordered it to pay N225.3 billion (about US$140 million).
This follows a supreme court ruling involving G. Cappa Plc and the now-defunct FSB International Bank, which was absorbed into Fidelity Bank during Nigeria’s banking consolidation reforms in the early 2000s.
G. Cappa is a Nigerian engineering firm.
Some online reports interpreted the ruling as placing an immediate N225.3 billion financial burden on Fidelity Bank, suggesting it could threaten the bank’s operations.
One of the several posts reads: “Fidelity Bank Faces Bankruptcy Risk After ₦225.3 Billion Supreme Court Judgment.”
The claim was shared on Facebook here and here (Note: See other instances at the end of this report.)
But does this mean Fidelity is now at risk of collapse? We checked.
Fidelity: ‘We are financially strong’
In an official statement, the bank dismissed the claim, describing it as “misleading” and “unfounded”.
It explained that the case came from a 2002 legacy issue involving the defunct FSB International Bank and said that it was reviewing the judgment to understand its financial implications.
“Rest assured, Fidelity Bank continues to operate as one of Nigeria's most capitalised financial institutions, with no risk of bankruptcy. Our Q1 2025 financial results clearly demonstrate our robust position,” the bank said.
Regulator backs Fidelity, says no risk to depositors
In a 19 May 2025 statement, the Central Bank of Nigeria (CBN) reassured the public that the banking sector, including Fidelity Bank, remained stable and well-regulated.
“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 regulator said.
The CBN says it actively monitors all banks using early warning systems and risk-based supervision to address any emerging issues promptly and safeguard the financial system.
The false claim also appeared here, here, here, here, here, here, here, here, here, here, here, here, here, here, here and here.
For publishers: what to do if your post is rated false
A fact-checker has rated your Facebook or Instagram post as “false”, “altered”, “partly false” or “missing context”. This could have serious consequences. What do you do?
Click on our guide for the steps you should follow.
Publishers guideAfrica Check teams up with Facebook
Africa Check is a partner in Meta's third-party fact-checking programme to help stop the spread of false information on social media.
The content we rate as “false” will be downgraded on Facebook and Instagram. This means fewer people will see it.
You can also help identify false information on Facebook. This guide explains how.
Add new comment