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The union conveyed its regret over the inaccurate information shared by its member and acknowledged its failure to promptly counter the claims when they first emerged.
In a letter signed by Elder Actor Zal, the General Secretary of NUP, the union stated, “We deeply regret the false alarm and extend our sympathies to your bank for any harm this may have caused to your corporate reputation. This mistake is sincerely regretted.”
The letter also reaffirmed the union's continued support for Fidelity Bank.
Conversely, the bank has consistently exceeded investor expectations, demonstrating robust performance. It recently announced a remarkable profit of N200.9 billion for the first half of 2024, marking a 163.1% increase compared to the same period last year.
The bank's strong profit before tax (PBT) performance is further evidenced by its share price, which has surged over 680% since it began a bullish trend in 2018. Following its Public Offer in August 2024, the stock price rose from N9.75 to a record high of N17.95 in September 2024.
The bank has received multiple local and international accolades in recognition of its dedication to exemplary corporate governance practices, including the esteemed CG+ award. This award represents the highest level within the Corporate Governance Rating System (CGRS) established by the Nigerian Exchange Group (NGX), which assesses listed companies based on recognized best practices and standards.
The situation involving the Nigerian Union of Pensioners highlights the importance of thorough information verification by media professionals prior to publication.
Additionally, the Nigerian Police deserve praise for their prompt action in detaining the unidentified individuals responsible for the reckless attack on the bank. The apology from the NUP occurs within a larger context where Nigerian banks are increasingly targeted by harmful media narratives, which could ultimately have detrimental effects on the economy in the long run.
