The Nigerian Presidency has dispelled contrary media reports suggesting the resignation of Bayo Ojulari, Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), insisting that remains in office.
This was disclosed by a top Presidency source on Saturday.
The source dismissed the reports as “false and rubbish,” refuting claims that Ojulari was pressured by the Economic and Financial Crimes Commission (EFCC) to step down.
Heritage Times HT reports that Ojulari was appointed by President Bola Tinubu in April 2025 to lead sweeping reforms aimed at improving NNPCL’s commercial viability, boosting operational transparency, and restoring investor confidence. His appointment followed the dissolution of the previous board led by Mele Kyari and board chairman Pius Akinyelure.
His tenure has been shadowed by mounting controversy, particularly linked to a $21 million (₦34.65 billion) corruption allegation. Civil society organisations such as OilWatch Nigeria and the Workers’ Rights Alliance have demanded Ojulari’s arrest and prosecution, claiming that a detained associate, Abdullahi Bashir Haske, confessed to holding the funds on Ojulari’s behalf.
The coalition, during a July 31 press briefing at EFCC headquarters, accused Ojulari of economic sabotage and complicity in the continued shutdown of Nigeria’s refineries. They also alleged a covert plan to privatise NNPCL assets. The groups launched a three-day protest beginning August 1, targeting the National Assembly, NNPCL headquarters, and EFCC offices to push their demands.
Additional accusations involve a kickback scheme tied to oil traders and pipeline contractors. The scheme allegedly came to light after Ojulari reassigned financial collection duties, triggering a whistleblower report that led the EFCC to freeze a suspicious account.
In May 2025, the Socio-Economic Rights and Accountability Project (SERAP) urged the EFCC and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate NNPCL over claims that ₦500 billion was unremitted to the Federation Account between October and December 2024.
Meanwhile, Ojulari has received backing from advocacy groups such as the Coalition for Good Governance and Change Initiatives (CGGCI) and the Human Rights Writers Association of Nigeria (HURIWA), who argue the protests are politically motivated. They praised initiatives under his leadership, including the introduction of real-time monitoring systems, contract audits, and improved fuel supply logistics that have reportedly reduced queues at petrol stations.
Critics, however, cite concerns over alleged extravagant spending, including a high-end retreat in Kigali involving private jets, and reports of a toxic work environment that has prompted several staff resignations.
The Niger Delta Environmental Justice Coalition (NDEJC) also expressed skepticism over the EFCC-DSS operations, describing them as politically driven. However, they acknowledged Ojulari’s efforts in increasing oil production and boosting remittances to government coffers.
