Reno Omokri, former presidential aide, has criticised Peter Obi, ex-governor of Anambra, over comments made about President Bola Tinubu’s handling of the Nigerian economy.
Omokri was responding to claims made by Obi on Arise TV and other platforms where he accused Tinubu of destroying the economy.
In a statement on Tuesday, Omokri challenged Obi to reconcile his public criticism with the performance of a bank in which he allegedly holds substantial shares.
His words: “My question to Mr Obi is this: If President Tinubu has destroyed the economy, how come a bank in which you have substantial shares (about 10%) and were its former chairman of the board, ******** **** PLC, made a record-breaking pre-tax profit of ₦385.2 billion for the financial year ending December 2024, representing a 210% increase compared to the ₦124.3 billion recorded in the financial year ending December 2023?
“This bank made more than three times the profit it made last year. How come?”
Citing Fitch Ratings, Omokri said the health of an economy can be gauged by the health of its banking system.
He dismissed claims that the bank’s performance was due to devaluation or inflation.
His words: “Between May 2024 and May 2025, the naira appreciated. It has not depreciated.
“The naira crashed to ₦1700/$1 on Monday, February 19, 2025, with the breasted hermaphrodite on Arise TV mocking that we would soon see ₦2000/$1. But after the National Security Adviser shut down Binance and arrested some of its employees, the naira appreciated dramatically and has remained at about ₦1500/$1 this year.”
Omokri attributed the bank’s performance to Tinubu’s economic reforms.
He said: “The only reason Peter Obi’s bank could make more than three times the profit it made in 2024 and 2025 is President Bola Tinubu’s deft handling of our economy.
“Peter Obi is deceiving you while the Tinubu economy is improving him. Because of President Tinubu, Peter Obi and his bank are wealthier.”
He listed several economic policies implemented by Tinubu that he said have stabilised the economy, including fuel subsidy removal, floating the naira, and moving oil receipts to the CBN.
He noted the commencement of large-scale infrastructure projects such as the Lagos-Calabar Coastal Highway and the Illela-Sokoto-Badagry Expressway, which he claimed would expand GDP by 12%.
According to him, revenue collection has also improved significantly, with the Federal Inland Revenue Service recording ₦21.66 trillion in 2024 — a 111.6% increase.
Omokri said these reforms led to a 3.84% GDP growth in Q4 2024 and an overall 3.4% GDP growth for the year, up from 2.7% in 2023 under the Buhari administration.
“The opposition says, ‘Na GDP growth rate we go chop?’ Yet, when GDP growth nosedived under Buhari, they complained,” he said.