At the instance of some party bigwigs, Obasanjo is expected to hold talks with National Chairman Bamanga Tukur and sacked National Secretary Olagunsoye Oyinlola.
According to sources, some leaders of the party have approached the former President to resolve the crisis between Tukur and Oyinlola, who are considered to be his long-time associates.
Tukur, who is accused of sending a secret tape of a meeting held by the Governors Forum to President Goodluck Jonathan, has denied the accusation.
It was learnt that after a civic reception for Obasanjo on Saturday, he may meet the warring leaders of the party under a “restricted atmosphere”.
A source in the party said: “There is pressure on Obasanjo to save the party from brinkmanship, despite the fact that some stakeholders are against him.
“We still see him as a conscience of the party. He is likely to meet with Tukur and Oyinlola to douse the tension in the party.
“After preliminary reconciliation, a larger meeting of stakeholders in the party will hold to put this crisis behind us. Certainly, President Goodluck Jonathan cannot achieve much with this distraction.”
A source close to Tukur said: “I think some leaders have decided to intervene and they might use the civic reception to set a peace tone.
“Already, Tukur has accepted to be the chairman of the civic reception in Abeokuta to prove a point that he is not against the ex-President or the interest of the Southwest.
But Tukur ran into a fresh storm following allegation that he had passed a recording of a meeting by governors to the President.
It was alleged that a governor from the Northcentral gave the “strange tape” to Tukur for onward transmission to Jonathan.
But Tukur, in a statement by Mr. Tajudeen Kareem on behalf of Tukur’s Media Strategy Team, denied running any espionage for Jonathan.