The Presidency has categorically denied claims that Bayo Ojulari, Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), has resigned or been forced to step down.
In a brief statement on Saturday night, Sunday Dare, a presidential spokesperson, described the report as “not true” and lacking credibility. Another senior official at the Presidency told Vanguard that the story was “false and rubbish.”
The denial follows a report by Peoples Gazette alleging that Ojulari was coerced into signing a resignation letter on Friday night by EFCC Chairman Ola Olukoyede and DSS Director-General Adeola Ajayi.
However, sources close to the Economic and Financial Crimes Commission (EFCC) told TheCable that the allegation was “ridiculous and mischievous,” insisting that Ojulari was neither abducted nor pressured to resign.
“The EFCC Chairman is not an appointing authority. If he requires anyone to answer questions, he does so through formal channels—not by force or coercion,” a source at the anti-graft agency stated.
The EFCC also emphasised that Olukoyede has never coerced or forced any public official to resign, describing him as a law-abiding leader committed to due process.
Background to the Controversy
Bayo Ojulari, a former Shell executive, was appointed by President Bola Ahmed Tinubu in April 2025, following the removal of Mele Kyari. His appointment was praised at the time for bringing deep hydrocarbon expertise to the NNPC.
However, in recent weeks, Ojulari has come under pressure due to a ₦34.65 billion ($21 million) corruption allegation, reportedly involving oil traders and pipeline contractors.
Civil society groups, including OilWatch Nigeria and the Workers’ Rights Alliance, allege that Ojulari was linked to a kickback scheme. During a press conference at EFCC headquarters on July 31, the groups cited a detained associate, Abdullahi Bashir Haske, who they claim confessed to holding illicit funds on Ojulari’s behalf.
They also accuse Ojulari of:
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Deliberately keeping Nigeria’s refineries shut
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Plotting to privatise strategic NNPCL assets
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Authorising a lavish NNPC retreat in Kigali involving private jets
The coalition began a three-day protest on August 1, with demonstrations at the National Assembly, NNPCL headquarters, and EFCC offices, calling for Ojulari’s arrest.
Mixed Reactions
While critics push for investigations, supporters of Ojulari say the attacks are politically motivated.
Groups like the Coalition for Good Governance and Change Initiatives (CGGCI) and HURIWA have defended his leadership, citing his reforms which include:
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Real-time monitoring of petroleum transactions
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Audits of legacy contracts
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Stabilisation of national fuel supply, reducing queues
They have urged President Tinubu to stand by Ojulari, arguing that he is working to clean up entrenched corruption in the NNPC.
Meanwhile, the Niger Delta Environmental Justice Coalition (NDEJC) expressed concern over what it called a politically driven joint EFCC-DSS raid. Still, it acknowledged Ojulari’s role in boosting oil production and government revenues.
Previous Concerns
This is not the first time NNPCL has faced scrutiny. In May 2025, SERAP called on the EFCC and ICPC to probe why ₦500 billion was not remitted to the Federation Account in Q4 2024.
Despite the mounting pressure, no official confirmation or evidence has surfaced to support the claims of Ojulari’s resignation or coercion.
For now, the Presidency maintains its stance: Ojulari remains GCEO, and the rumours of his resignation are baseless.
