By Onilede Titi Faith
Fidelity Bank has announced it will exit the Central Bank of Nigeria’s (CBN), forbearance programme by the end of June 2025, marking a return to full regulatory compliance and financial stability.
The move follows a Supreme Court ruling in April 2025 regarding a legacy debt tied to a 2002 loan from the defunct FSB International Bank, which Fidelity later acquired.
While reports suggested the bank owed ₦225 billion, Fidelity clarified its actual exposure is about ₦14 billion and is seeking official clarification.
In a statement signed by Meksley Nwagboh, Divisional Head of Brand & Communications, Fidelity dismissed insolvency claims as false, asserting that the bank remains well-capitalised and financially sound.
This was backed by a May 2025 CBN statement affirming Fidelity’s solid financial condition.
Further boosting its outlook, Fitch Ratings upgraded Fidelity’s credit rating from “A(nga)” to “A+(nga)” on May 29, citing improved profitability, stronger capital, and a growing base of low-cost deposits.
The planned exit from the forbearance regime underscores Fidelity Bank’s resilience and readiness to meet new capital requirements, reinforcing its position among Nigeria’s leading financial institutions.
