Speculation continues to swirl around Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), following unverified reports of his resignation under pressure.
While social media buzzed on Saturday with claims that Ojulari was forced to step down after being summoned by the Economic and Financial Crimes Commission (EFCC) and the Department of State Services (DSS), both agencies have firmly denied any involvement in such a move.
An EFCC official, speaking anonymously, clarified that the agency did not detain or coerce Ojulari. According to the source, a group of protesters submitted a petition requesting the commission investigate the NNPCL boss, but there was no truth to the abduction or forced resignation claims.
“We received a petition and are reviewing it—that’s all. People need to stop spreading unfounded rumours,” the official stated.
The DSS also dismissed allegations linking its Director-General, Adeola Ajayi, to a supposed plan to oust Ojulari, calling the claims “false and misleading.”
Meanwhile, insiders within NNPCL suggest rising internal tensions may be behind the mounting pressure. Some presidential aides are reportedly uncomfortable with Ojulari’s management approach, which prioritizes commercial autonomy over political considerations. His recent dismissal of several top NNPC officials has allegedly ruffled feathers among political elites with ties to those affected.
Adding fuel to the fire are allegations that Ojulari maintains close ties with a key opposition figure, raising questions about his loyalties.
Despite multiple efforts, the NNPCL has yet to comment officially on the matter, especially after the recent resignation of its spokesperson, Olufemi Soneye.
Ojulari’s appearance before the National Assembly last Tuesday has also drawn attention. He was summoned by the Senate Public Accounts Committee to address 19 audit queries related to a staggering ₦210 trillion in assets and liabilities from 2017 to 2023.
Although the committee clarified that the amount was not missing or stolen, Ojulari was asked to provide detailed explanations within three weeks. In response, the NNPCL chief requested more time, citing his relatively short time in office—just over 100 days—as a reason for needing further internal review.
He promised to collaborate with auditors and internal teams to present comprehensive answers.
