The Central Bank of Nigeria (CBN) has debunked circulating social media claims alleging that Fidelity Bank is bankrupt. In a statement released on Monday, the apex bank’s acting spokesperson, Hakama Sidi Ali, reaffirmed the stability and resilience of Nigeria’s banking sector, assuring the public that it remains safe and sound. The clarification follows reports suggesting that Fidelity Bank is facing bankruptcy after the Supreme Court ordered it to pay N225 billion in damages to Sagecom Concept Limited. However, the CBN described these reports as misleading, urging the public to disregard sensational and unverified claims. “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 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. “We urge the public to disregard sensational or unverified claims and rely solely on official channels for information about the financial system. 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,” the statement reads.