The Mischief in Fidelity Bank Bankruptcy Rumour
The Mischief in Fidelity Bank Bankruptcy Rumour By Ikechukwu Amaechi Fidelity Bank Plc has dismissed as unfounded the story making the rounds that it is on the verge of bankruptcy following a Supreme Court judgment linked to a legacy $3 million credit facility granted by the defunct FSB International Bank in 2002. The bank made the clarification on Monday, assuring the general public, depositors and stakeholders that it remains financially strong despite court judgment. In a statement by its Divisional Head, Brand & Communications, Meksley…
Fidelity Bank Clarifies Position on Court Judgement Inherited From Defunct FSB International Bank
Fidelity Bank Clarifies Position on Court Judgement Inherited From Defunct FSB International Bank LAGOS, NIGERIA – May 19, 2025 – Our 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”. 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 t…
Anambra's First Lady, Nonye Soludo’s Hearth Of Human Kindness, Spreading Across The State
Anambra's First Lady, Nonye Soludo’s Hearth Of Human Kindness, Spreading Across The State …Her Inspiring Simplicity Commended Anambra State's First Lady, Nonye Soludo’s demonstration of true leadership through love in action by transforming the state with her worthy initiatives, has been commended. After observing the first lady at the Solution City while playing with the children and members of the general public recently, Mrs Ikechukwu Obiageli described the first Lady as simplicity personified. “She's a kind hearted person and a…
CBN Reassures Public on Banking Sector Stability
CBN Reassures Public on Banking Sector Stability The attention of the Central Bank of Nigeria (CBN) has been drawn to certain publications and social media reports containing misleading information regarding the operations of a regulated financial institution. The CBN wishes to categorically reassure the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound. Like all other regulated institutions, the institution referenced in these reports is held to stringent regulatory requirements, and th…
*WHO IS AFRAID OF FIDELITY BANK -By Udeme Etukeyen*
*WHO IS AFRAID OF FIDELITY BANK -By Udeme Etukeyen* Leading up to the recent superlative annual reports showcasing one of the most significant growth experienced by a Nigeria Financial Institution in recent years I was forced to ask “what is Fidelity Bank” doing right? My banking and financial sector experience got me digging deeper into the statistics of the report-Fidelity Bank recorded a substantial 210.0% growth in PBT, reaching N385.2 billion in FY 2024. Deposits increased by 47.9%, from N4.0 trillion in 2023FY to N5.9 trillion in 2024FY,…
Dangote assures of Petrol price stability despite the increase in crude oil price
Dangote assures of Petrol price stability despite the increase in crude oil price Dangote Petroleum Refinery & Petrochemicals reaffirms that, despite the fluctuations in global crude oil prices, it has consistently reduced the price of Premium Motor Spirit (PMS), commonly known as petrol. The company, in a release, signed its Group Chief Branding and Communications Officer, Anthony Chiejina said the decision to maintain price stability reflects its unwavering commitment to supporting the Nigerian economy and alleviating the burden on consu…
UBA Wins Big at Development Bank of Nigeria Service Ambassador Awards, Clinches Four Prestigious Awards
UBA Wins Big at Development Bank of Nigeria Service Ambassador Awards, Clinches Four Prestigious Awards UBA Wins Big at Development Bank of Nigeria Service Ambassador Awards, Clinches Four Prestigious Awards Group Head, Retail and Digital Banking, United Bank for Africa (UBA); Shamsideen Fashola; Managing Director/CEO, Development Bank of Nigeria, Dr. Tony Okpanachi; Group Deputy Managing Director, UBA, Muyiwa Akinyemi; and Group Head, SME Banking, UBA, Mr. BabatundeAjayi at the 2025 Development Bank of Nigeria (DBN) Service Ambass…
.gif)
Social Plugin