Behind the Rome Encounter: Why Peter Obi Really Sought Tinubu

 

Photo: saharareporters

Despite the viral photo of Peter Obi, President Bola Tinubu, and former Ekiti State Governor Kayode Fayemi casually interacting at a Vatican event, new details suggest there was far more behind the scenes than a simple religious gathering.

It has been learned that Obi’s trip to Rome wasn’t just about attending Pope Leo XIV’s installation mass. According to sources, his real mission was to secure a private meeting with President Tinubu to address a major financial crisis threatening Fidelity Bank Plc—where Obi is a former chairman and reportedly still a key stakeholder.

A Quiet Crisis Behind the Smiles

The bank is facing a staggering ₦225 billion judgment debt stemming from a legal dispute with Sagecom Concept Limited, which has now ballooned to over $139 million with interest. The Supreme Court recently upheld rulings holding Fidelity Bank and construction firm G. Cappa Plc jointly liable for damages related to lost rental income on high-end property in Ikoyi, Lagos.

Obi had hoped to privately appeal to Tinubu for intervention, but sources say the Presidency blocked the request for a hotel meeting, insisting any interaction be in public view. The brief exchange at the Vatican—where Fayemi reportedly encouraged Obi to greet Tinubu—was a carefully planned compromise.

Strategic Moves and High-Level Meetings

Before flying to Rome, Obi reportedly met with several influential figures in a bid to build support, including Lagos Governor Babajide Sanwo-Olu, the Ooni of Ife, and former Governors Ayodele Fayose and Kayode Fayemi. It was Fayemi who ultimately accompanied him to the Vatican.

According to insiders, Obi’s trip was never intended as a religious pilgrimage. “He wasn’t even officially invited to the Pope’s inauguration,” one source said. “The visit was orchestrated to secure an urgent meeting with Tinubu over Fidelity Bank’s financial exposure.”

A Public Denial, A Private Mission

After returning to Nigeria, Obi downplayed the Rome interaction. Speaking at an Anglican Church event in Abuja, where he donated ₦20 million, he told reporters: “Myself The President and I are not fighting. We went for a church service in Rome.”

But behind that statement lies a growing financial storm. Fidelity Bank insists its actual liability is closer to ₦14 billion. In an earlier public offering prospectus, it cited far lower figures—just ₦150 million and $633,750 in court judgments. Yet these claims are drastically out of step with the ₦225 billion awarded in the Supreme Court ruling.

Offshore Controversies and Lingering Questions

Adding to the controversy is Peter Obi’s link to offshore companies, as revealed in the Pandora Papers investigation. Reports allege he failed to declare foreign holdings tied to shell companies in tax havens, potentially violating Nigeria’s asset declaration laws. Obi has denied any wrongdoing, maintaining that all offshore funds were legitimate and that he stepped away from business roles before entering public office.

The Economic and Financial Crimes Commission (EFCC) previously invited Obi for questioning following directives from former President Muhammadu Buhari to investigate Nigerians named in the leaks.

The Bigger Picture

The Rome episode has reignited political speculation, especially among supporters of both Obi and Tinubu. While the photo-op appeared cordial, it masked a tense and calculated attempt by Obi to seek high-level help for a financial dilemma that could have sweeping implications for one of Nigeria’s major banks—and potentially, his own financial interests.