Peter Obi, former Labour Party presidential candidate and ex-chairman of Fidelity Bank, has denied reports that he met privately with President Bola Tinubu in Rome to discuss a ₦225 billion debt tied to Fidelity Bank.
Obi described the allegations as a deliberate smear campaign.
In a statement issued Thursday, Obi said, “Even my solemn spiritual trip to Rome has been distorted into yet another blackmail campaign by paid merchants intent on spreading falsehoods against me.”
Obi clarified that since Tinubu assumed office, he has only exchanged a brief, respectful greeting with the president during the papal inauguration at Saint Peter’s Basilica. He categorically denied any private meeting or request for intervention regarding the bank’s financial issues.
Addressing rumors about his ownership of Fidelity Bank, Obi stated, “For the record, I do not [own Fidelity Bank]. Throughout my career, I have served as Chairman or Director of three banks and financial institutions, one of which is Fidelity. Fidelity has over 500,000 shareholders, none of whom hold a majority stake.”
The reports emerged amid a Supreme Court ruling affirming Fidelity Bank’s liability in a long-standing legal dispute, with the debt ballooning to approximately ₦225 billion due to accrued interest. Some sources claimed Obi traveled to Rome to seek Tinubu’s help to prevent the bank’s collapse, but Obi’s statement refutes this narrative.
