Conflicting reports have emerged suggesting that Bayo Ojulari, Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), was allegedly pressured into signing a resignation letter on Friday night by operatives of the Economic and Financial Crimes Commission (EFCC).
The incident, described by some sources as a ‘civilian coup,’ is said to have taken place without presidential authorisation, with EFCC Chairman Ola Olukoyede and DSS Director-General Adeola Ajayi reportedly overseeing the operation.
The Presidency has denied the allegations. Special Adviser Bayo Onanuga stated on Saturday that Ojulari remains the substantive head of NNPCL. Ojulari was appointed in April 2025 to lead reforms within the organisation.
Efforts to verify the reports with EFCC spokesman Dele Oyewale were unsuccessful, as he did not respond to calls or messages as of press time.
The controversy stems from allegations surrounding a $21 million (?34.65 billion) corruption scandal. Civil society groups, including OilWatch Nigeria and the Workers’ Rights Alliance, have called for Ojulari’s arrest and prosecution.
These 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.
As at the time of filing thius report, the EFCC was yet to issue an official statement confirming Ojulari’s arrest or prosecution, leaving the situation unclear amid competing claims.
