The Nigeria Union of Pensioners has issued a formal apology to Fidelity Bank Plc for a false story published earlier this year by one of its members, Comrade Abiodun Michael, concerning the bank’s stability.
The union expressed regret not only for the inaccurate claims but also for its failure to promptly refute the story when it was published, according to Nairametrics.
In a letter signed by Elder Actor Zal, the General Secretary of NUP, the union stated, “We sincerely apologize for the false alarm and sympathize greatly with your bank for the damage the said alarm might have caused your corporate image. The error is greatly regretted.”
The letter reaffirmed the Nigeria Union of Pensioners’ ongoing support for Fidelity Bank.
Meanwhile, the bank continues to exceed investor expectations, recently reporting a remarkable profit of N200.9 billion for H1 2024, marking a 163.1% increase compared to the same period last year.
The bank’s robust profit before tax performance is also evident in its share price, which has surged over 680% since establishing a bullish trend in 2018.
Following its Public Offer in August 2024, the stock price rose from N9.75 to an all-time high of N17.95 in September 2024.
In acknowledgment of its commitment to robust corporate governance practices, the bank has received multiple local and international awards, including the prestigious CG+ award.
The CG+ award represents the highest rank under the Corporate Governance Rating System (CGRS) of the Nigerian Exchange Group, which assesses listed companies against established best practices and standards.
The incident with the Nigerian Union of Pensioners highlights the importance of media practitioners thoroughly vetting information before publication.
