There was confusion Saturday evening whether or not Bayo Ojulari had resigned his appointment as the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL).
Earlier media reports claimed that the Economic and Financial Crimes Commission (EFCC) forced Ojulari to resign his plum job.
However, later reports quoting presidency sources dismissed the claim as “false and mischievous”.
President Bola Tinubu appointed Ojulari in April 2025, mandating him to carry out reforms aimed at enhancing operational efficiency restoring investor confidence and making NNPC Limited more commercially viable.
The President had also sacked the previous board of NNPC, including its Group Chief Executive Officer, Mele Kyari, and board chairman Pius Akinyelure, as part of the reforms.
The controversy stems from allegations surrounding a $21 million (N34.65 billion) corruption scandal. Civil society groups, including OilWatch Nigeria and the Workers’ Rights Alliance, have called for Ojulari’s arrest and prosecution.
The groups referenced claims that Abdullahi Bashir Haske, a detained associate, allegedly confessed to holding the funds on Ojulari’s behalf. At a press conference on 31 July at EFCC headquarters, the coalition accused Ojulari of economic sabotage, citing the prolonged shutdown of Nigeria’s refineries and alleged plans to privatise NNPCL assets.
The coalition has launched a three-day protest, beginning 1 August, at the National Assembly, NNPCL headquarters, and EFCC offices, to press their demands.
Additional allegations centre on a $21 million kickback scheme involving oil traders and pipeline contractors, reportedly uncovered after Ojulari reassigned fund collection responsibilities. This prompted a whistleblower to alert the EFCC, which subsequently froze the implicated account.
In May 2025, the Socio-Economic Rights and Accountability Project (SERAP) had urged both the EFCC and the Independent Corrupt Practices Commission (ICPC) to investigate claims that N500 billion was not remitted by NNPCL to the Federation Account between October and December 2024.
However, groups such as the Coalition for Good Governance and Change Initiatives (CGGCI) and the Human Rights Writers Association of Nigeria (HURIWA) have defended Ojulari, suggesting that the protests may be politically motivated efforts to derail his reform agenda.
They commended initiatives under his leadership, including real-time monitoring systems, audits of previously opaque contracts, and efforts to stabilise fuel supply, which have reportedly reduced queues at petrol stations. These groups have urged President Tinubu to support Ojulari’s anti-corruption efforts.
Critics, however, have raised concerns about alleged lavish spending, including a high-cost retreat in Kigali involving private jets, as well as claims of a difficult work environment that has led to staff resignations.
The Niger Delta Environmental Justice Coalition (NDEJC) also criticised the reported EFCC-DSS operation, describing it as politically driven. However, the group acknowledged Ojulari’s contributions to boosting oil production and remittances.
* Media Report