Resignation Rumours Trail NNPC CEO as EFCC Confirms Petition

Confusion continues to swirl around the leadership of the Nigerian National Petroleum Company Limited following rumours that its Group Chief Executive Officer, Bayo Ojulari, has stepped down under pressure.

The Economic and Financial Crimes Commission confirmed it received a petition against Ojulari, but firmly denied claims of any coercion or abduction.

The speculation began on Saturday when social media was flooded with reports that the EFCC, in coordination with the Department of State Services, forced Ojulari to resign. Allegations circulated that top security officials compelled him to sign a resignation letter. But officials from both the EFCC and DSS dismissed the reports as false and misleading, saying there was no truth to claims of forced resignation or involvement in any plot to remove him.

According to a source within the EFCC, protesters submitted a petition asking the commission to investigate Ojulari, which is currently under review. The official, who asked not to be named, stressed that people have the right to submit petitions and that the agency is only doing its job by looking into the matter.

Inside the NNPCL, however, there are signs of growing internal tension. Some sources believe that powerful individuals in the Presidency are unhappy with Ojulari’s management style. Appointed by President Bola Tinubu just over three months ago, Ojulari is said to have taken a tough stance against political interference. His decision to remove several top executives has reportedly upset key figures connected to the previous administration.

There are also claims that Ojulari has links to a known opposition leader, a factor that might be fueling suspicion among political stakeholders. While none of these allegations have been officially confirmed, they add to the uncertainty surrounding his future.

The company has not released a statement addressing the resignation rumour, and efforts to reach a spokesperson were unsuccessful, as the role remains vacant following the resignation of Olufemi Soneye.

Adding to the pressure, Ojulari appeared before the Senate Committee on Public Accounts last week to answer questions about audit findings from 2017 to 2023. The committee is investigating N210 trillion in financial discrepancies linked to NNPCL records. While senators clarified that the funds were neither missing nor stolen, they demanded a detailed explanation of N103 trillion in liabilities and N107 trillion in assets.

Ojulari, who has only recently taken office, asked for more time to go through the audit queries. The committee granted him three weeks to prepare written responses, after which he is expected to return with his management team for further questioning.

With multiple forces at play—the audit investigation, petition, political friction, and rising public interest—the next steps for Ojulari and the NNPCL will be closely watched. For now, neither his resignation nor removal has been confirmed, but the atmosphere surrounding his leadership remains tense.