Fidelity Bank has confirmed the Supreme Court’s final ruling in the case involving GCappa Plc and Sagecom Concepts Limited, stating that it has computed the total settlement at N14 billion.
In a statement released on Monday, the bank clarified that the dispute stems from a legacy transaction initially handled by the now-defunct FSB International Bank, which was later acquired by Fidelity Bank.
The bank acknowledged the apex court’s judgment as binding and stated that it is complying fully with the legal directive. However, it also expressed concern over what it described as a “sponsored publication” of the court decision, which it claims was orchestrated and circulated in the media with the intent to discredit the institution.
Fidelity Bank reiterated its commitment to honoring valid legal obligations while safeguarding its corporate image against what it called reputational attacks masked as media campaigns.
The bank assured stakeholders that the matter, while rooted in historical liabilities, would not affect its financial stability or operational commitments.
