Bayo Ojulari Appointed For New NNPC Boss April 2025
- Local News
- 03.08.2025
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- 39
EXCLUSIVE: EFCC, SSS abduct NNPC boss Bayo Ojulari, force him to sign resignation letter after directive from Bola Tinubu’s paramour Olatimbo Ayinde
The incident Friday night was narrated to The Gazette by national security and law sources, with some calling the operation a coup d’état because the president did not sanction it.
Bayo Ojulari was seized on Friday and pressured to sign a resignation letter by Ola Olukoyede, chairman of anti-graft EFCC, and Adeola Ajayi, director-general of the State Security Service.
The incident on Friday night was narrated to The Gazette by national security and law sources familiar with the matter, with some of them describing the operation as a coup d’état because President Bola Tinubu did not sanction it.
Officials said Mr Ojulari was repeatedly questioned about what he might know of Olatimbo Ayinde, a British-Nigerian oil businesswoman who has recently emerged as one of the most powerful forces steering the Tinubu administration.
“Mr Ojulari told us he didn’t know Olatimbo Ayinde,” an official said under anonymity to disclose the matter to The Gazette. “He also said he heard she was trying to control businesses at NNPC and he rejected such moves.”
Ms Ayinde, long known in business circles for her wheeling and dealing, was charged in the United Kingdom for bribing two former Nigerian oil ministers. The Gazette reported on Thursday that anti-graft operatives were ordered to slowwalk and frustrate a request for evidence from British prosecutors for use in their ongoing trial of Ms Ayinde.
Mr Bayo Ojulari was appointed in early April by Mr Tinubu, with the Nigerian president saying the decision was largely due to Mr Ojulari’s expertise in hydrocarbon as a former Shell executive in Nigeria.
Mr Bayo Ojulari did not immediately return multiple requests seeking comments about the development on Saturday morning. The Gazette has contacted the presidency, SSS and the EFCC for comment.
Mr Bayo Ojulari has been under fire since he authorised a trip of NNPC executives and mid-level officials to attend an oil and gas conference in Kigali earlier this month. Mr Ojulari was said to have spent millions of dollars on the trip, although the specific amount remained fuzzy. He denied the allegations, saying his detractors were behind the campaign.
A reliable Presidency source on Saturday described the claims as “false and rubbish.”
The reports suggested that Ojulari was compelled by the Economic and Financial Crimes Commission (EFCC) to tender his resignation. However, the Presidency source dismissed these claims as untrue.
President Bola Tinubu appointed Ojulari in April 2025, mandating him to carry out reforms aimed at enhancing operational efficiency restoring investor confidence and making NNPC Limited more commercially viable.
The President had also sacked the previous board of NNPC, including its Group Chief Executive Officer, Mele Kyari, and board chairman Pius Akinyelure, as part of the reforms.
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 ₦500 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.
