Confusion has surrounded the status of Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), following reports that he was allegedly forced to resign on Friday night by operatives of the Economic and Financial Crimes Commission (EFCC).
According to multiple sources, Ojulari was pressured into signing a resignation letter during a surprise operation allegedly led by EFCC Chairman Ola Olukoyede and the Director-General of the Department of State Services (DSS), Adeola Ajayi. However, the Presidency has denied the claims.
“There’s no truth to it. Ojulari remains the head of NNPCL,” said presidential spokesperson Bayo Onanuga on Saturday.
Ojulari, who took office in April 2025, was appointed to lead key reforms at NNPCL. Efforts to reach EFCC spokesman Dele Oyewale for confirmation were unsuccessful as of Saturday evening.
The situation became more controversial after civil society groups, including OilWatch Nigeria and the Workers’ Rights Alliance, accused Ojulari of involvement in a $21 million (₦34.65 billion) corruption scandal. They allege that Abdullahi Bashir Haske, a detained associate, confessed to holding the funds for Ojulari.
At a press conference on July 31 at the EFCC headquarters, the coalition claimed that Ojulari was behind economic sabotage, pointing to the shutdown of refineries and plans to privatise NNPCL assets.
Protests began on August 1 outside the National Assembly, NNPCL headquarters, and EFCC offices. Protesters are demanding Ojulari’s arrest and prosecution.
Further accusations involve a kickback scheme with oil traders and pipeline contractors. Reports say the scheme came to light after Ojulari changed how funds were collected, prompting a whistleblower to notify the EFCC. The agency later froze the suspicious account.
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The anti-corruption group SERAP had earlier in May called on the EFCC and ICPC to investigate NNPCL for allegedly failing to remit ₦500 billion to the Federation Account between October and December 2024.
Despite the allegations, groups like the Coalition for Good Governance and Change Initiatives (CGGCI) and the Human Rights Writers Association of Nigeria (HURIWA) have defended Ojulari. They believe the protests are politically motivated to block his reform plans.
“These attacks are distractions. Ojulari’s leadership has introduced real-time monitoring, contract audits, and better fuel supply systems,” one statement from the CGGCI read.
However, critics have accused Ojulari of wasteful spending, including organising a luxury retreat in Kigali with private jets. They also mention complaints of a hostile work environment and resignations by some staff.
The Niger Delta Environmental Justice Coalition (NDEJC) also criticised the alleged EFCC-DSS operation, calling it politically driven. Still, they acknowledged Ojulari’s efforts to improve oil production and revenue remittance.
As of 9:00 p.m. on Saturday, the EFCC had not issued an official statement confirming whether Ojulari had resigned or was under investigation, leaving the public uncertain about his current position.