Contrary to widespread online claims, Bayo Ojulari has not resigned as Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), a senior Presidency source has confirmed.
Online reports had suggested that Ojulari was pressured into resigning by the Economic and Financial Crimes Commission (EFCC) following allegations of corruption. However, a Presidency official dismissed the reports as “false and rubbish,” affirming that Ojulari remains in office.
Anti-Corruption Claims, EFCC Petition, and Whistleblower Report
At the centre of the controversy is a $21 million corruption allegation linked to a detained associate, Abdullahi Bashir Haske, who allegedly claimed he held the funds for Ojulari. The EFCC acknowledged receiving a petition from civil society groups, which demanded an investigation into Ojulari’s role. However, EFCC officials denied any involvement in coercing or abducting the NNPCL head.
An EFCC source stated that protesters had visited their office to submit a petition, which the agency promised to review. “Those are fake news. It is not true that the EFCC abducted him,” the source said. The official added that Ojulari had not been forced to resign.
The Department of State Services (DSS) also refuted claims that its Director-General played any role in efforts to remove Ojulari. A DSS official described the allegations as unfounded and misleading.
Public Protests and Civil Society Reactions
Several groups, including OilWatch Nigeria and the Workers’ Rights Alliance, have taken a firm stance against Ojulari. At a 31 July press conference at EFCC headquarters, they accused him of economic sabotage, citing the long-running shutdown of Nigeria’s refineries and alleged efforts to privatise NNPCL assets.
A coordinated three-day protest is scheduled to begin on 1 August at the National Assembly, EFCC offices, and NNPCL headquarters. Protesters are demanding Ojulari’s arrest and prosecution over the alleged kickback scheme and his reported reassignment of NNPCL’s internal fund collection duties.
In contrast, other civil society organisations, such as the Human Rights Writers Association of Nigeria (HURIWA) and the Coalition for Good Governance and Change Initiatives (CGGCI), have defended Ojulari. They described the protests as politically motivated attempts to undermine ongoing reforms.
They praised his leadership for introducing real-time monitoring systems, auditing opaque contracts, and stabilising fuel supply, which they say has eased pressure on fuel queues nationwide. These groups have urged President Tinubu to stay the course on reforms and continue backing Ojulari’s anti-corruption drive.
Allegations of Extravagance, Workplace Tensions
Despite support from some quarters, Ojulari’s leadership has faced criticism. He is accused of authorising an extravagant corporate retreat in Kigali involving private jet travel. Internal sources at NNPCL also cited a tense work environment and multiple senior resignations, reportedly linked to his management style.
Other reports suggest unease within the Presidency, with some power blocs said to be uncomfortable with Ojulari’s independence and commercial approach to managing NNPCL. Unlike his predecessor, Mele Kyari, Ojulari has reportedly resisted political interference, drawing friction with influential figures.
There are also claims that Ojulari maintains links with a high-profile opposition politician, further fuelling speculation about internal resistance to his leadership.
Senate Audit Investigation: ₦210 Trillion in Focus
In a separate development, Ojulari recently appeared before the Senate Committee on Public Accounts to address queries relating to ₦210 trillion in unaccounted financial records spanning 2017 to 2023. He requested more time to respond, citing his short tenure of just over 100 days in office.
Committee Chairman, Senator Ahmed Wadada, clarified that the amount in question was not classified as missing or stolen. He explained that it consisted of ₦103 trillion in liabilities and ₦107 trillion in assets, which must be reconciled and properly accounted for.
Ojulari pledged to collaborate with external auditors to address the 19 audit queries raised by the Office of the Auditor-General. He initially requested four weeks but accepted the committee’s three-week deadline to submit a detailed response.
NNPCL Yet to Comment Officially
Efforts to obtain an official statement from NNPCL have been unsuccessful. The corporation currently lacks a spokesperson following the resignation of Olufemi Soneye. Staff contacted by reporters declined to comment on the leadership controversy.
As the protest action begins and investigations continue, Ojulari’s position at the helm of NNPCL remains intact—for now. With growing public scrutiny and mounting internal pressure, the coming weeks could prove pivotal for the oil giant’s leadership and reform agenda.