Peter Obi’s recent visit to the Vatican was not a religious courtesy but a political mission to save Fidelity Bank Plc from a ₦225 billion debt crisis, SaharaReporters has learned.
SAHARA REPORTERS
Peter Obi’s visit to the Vatican was a high-stakes mission to seek President Bola Tinubu’s intervention in Fidelity Bank’s ₦225 billion judgment debt, not an invitation to the papal inauguration, SaharaReporters has learned.
Obi, a former chairman and current stakeholder in Fidelity Bank, reportedly arranged the trip after a Supreme Court ruling held the bank jointly liable for massive damages alongside G. Cappa Plc.
Sources said Obi sought support from key political figures before enlisting former Ekiti governor Kayode Fayemi to accompany him to Rome, where they approached Tinubu during Pope Leo XIV’s installation.
“Peter Obi’s visit to Rome was to meet President Tinubu to help intervene and prevent the bankruptcy of Fidelity Bank,” one source said.
Despite public claims that its liability stands at ₦14 billion, the court-awarded sum—compounded at 19.5%—now approaches ₦225 billion.
Presidential aide Bayo Onanuga confirmed the Rome encounter, noting that Fayemi facilitated Obi’s meeting with Tinubu.