Contrary to widespread speculation, sources from the Presidency have firmly denied reports that Bayo Ojulari, the Group Chief Executive Officer (GCEO) of Nigerian National Petroleum Company Limited (NNPCL), has resigned from his position.
False Claims of Resignation Debunked
According to insider sources, the claims suggesting Ojulari’s resignation—allegedly under pressure from the Economic and Financial Crimes Commission (EFCC)—are “false and rubbish.”
Ojulari, appointed in April 2025 by President Bola Tinubu, has been tasked with implementing critical reforms to restore investor confidence and boost operational efficiency in the state-owned oil company.
Ongoing Controversy Over Alleged $21 Million Scandal
The controversy follows growing public scrutiny over an alleged $21 million (₦34.65 billion) corruption scandal. Several civil society groups, including OilWatch Nigeria and the Workers’ Rights Alliance, have called for Ojulari’s immediate arrest and prosecution over the alleged fraud.
However, no official charges have been filed, and the Presidency maintains that Ojulari remains in office and continues to carry out his reform mandate at NNPC Limited.
Background: A New Era at NNPC
President Tinubu’s reforms earlier this year led to the dismissal of the previous NNPCL board, including former GCEO Mele Kyari and board chairman Pius Akinyelure. Ojulari’s appointment was widely seen as part of a broader strategy to professionalize and commercialize Nigeria’s oil sector.
