Reports surfaced on Saturday alleging that Bayo Ojulari, Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), was pressured into signing a resignation letter on Friday night by operatives of the Economic and Financial Crimes Commission (EFCC).
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The alleged operation, described by sources as a ‘civilian coup,’ reportedly took place without presidential approval and was overseen by EFCC Chairman Ola Olukoyede and DSS Director-General Adeola Ajayi.
The Presidency swiftly denied the allegations. Special Adviser to the President, Bayo Onanuga, affirmed that Ojulari remains the substantive head of NNPCL. Ojulari was appointed in April 2025 to spearhead reforms within the company.
Attempts to reach EFCC spokesman Dele Oyewale for comment were unsuccessful as calls and messages went unanswered by press time.
The controversy follows allegations of a $21 million (approximately ₦34.65 billion) corruption scandal linked to Ojulari. Civil society groups, including OilWatch Nigeria and the Workers’ Rights Alliance, have called for his arrest and prosecution. They cited claims that Abdullahi Bashir Haske, a detained associate, allegedly confessed to holding funds on Ojulari’s behalf. At a press conference on July 31 at EFCC headquarters, the coalition accused Ojulari of economic sabotage, referencing the prolonged shutdown of Nigeria’s refineries and alleged plans to privatise NNPCL assets.
In response, the coalition launched a three-day protest starting August 1 at the National Assembly, NNPCL headquarters, and EFCC offices, pressing their demands for accountability.
Additional allegations focus on a $21 million kickback scheme involving oil traders and pipeline contractors, uncovered after Ojulari reassigned responsibilities for fund collections. A whistleblower reportedly alerted the EFCC, which then froze the implicated account.
In May 2025, the Socio-Economic Rights and Accountability Project (SERAP) urged 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.
Conversely, advocacy groups such as the Coalition for Good Governance and Change Initiatives (CGGCI) and the Human Rights Writers Association of Nigeria (HURIWA) defended Ojulari. They described the protests as politically motivated attempts to undermine his reform agenda. These groups praised Ojulari’s leadership, highlighting initiatives such as real-time monitoring systems, audits of opaque contracts, and efforts to stabilise fuel supply that reportedly reduced petrol queues. They called on President Bola Tinubu to support Ojulari’s anti-corruption measures.
Critics, however, have raised concerns about alleged extravagant spending, including a costly retreat in Kigali involving private jets, and reports of a challenging work environment leading to staff resignations.
The Niger Delta Environmental Justice Coalition (NDEJC) condemned the reported EFCC-DSS operation as politically driven but acknowledged Ojulari’s positive contributions to increasing oil production and revenue remittance.
As of 9:00 pm Saturday, the EFCC had not issued any official statement confirming Ojulari’s arrest or prosecution, leaving the situation shrouded in uncertainty amid conflicting claims.
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