₦225 billion dispute: Fidelity Bank responds to Supreme Court ruling, assures stakeholders
- Fidelity Bank Plc responded to media reports about a Supreme Court ruling imposing a ₦225 billion damages payment.
- The bank clarified that the actual financial liability is estimated at approximately ₦14 billion, significantly lower than reported.
- The judgment debt originates from a 2002 credit facility granted by FSB International Bank to G. Cappa Plc.
Fidelity Bank's proactive communication and clarification regarding the legal issues reflect a strong commitment to transparency and stakeholder reassurance. The significant growth in financial performance and strategic expansion plans suggest a robust outlook for the bank, although the legal ambiguities could pose risks that need careful management.
