The status of Nigerian National Petroleum Company Limited (NNPCL) Group Chief Executive Officer, Bayo Ojulari, is currently mired in controversy, with conflicting reports circulating about his alleged resignation.
While some media outlets have claimed he was forced to resign, the Presidency and other sources have debunked the reports, creating a cloud of confusion.
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According to some online publications, Ojulari was allegedly abducted and pressured into signing a resignation letter by officials from the Economic and Financial Crimes Commission (EFCC) and the Department of State Services (DSS).
These reports have been described by some as a “civilian coup” without presidential authorisation.
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However, the Presidency has swiftly denied these claims. A spokesperson stated that the reports are “false and rubbish” and that Ojulari remains the substantive head of the NNPCL.
The EFCC has also refuted the abduction claims, calling them “ridiculous and mischievous” and confirming that a petition has been filed against Ojulari, but that no abduction took place.
The controversy is set against a backdrop of several serious allegations against the NNPC boss.
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A coalition of civil society groups has called for his arrest and prosecution over a purported $21 million corruption scandal. The groups allege that a detained associate of Ojulari confessed to holding the funds on his behalf. These groups have launched protests at key government institutions, demanding action.
In a separate development, Ojulari recently appeared before a Senate Committee to answer for $210 trillion in unreconciled funds flagged in the company’s audited financial statements from 2017 to 2023.
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The Senate has given him three weeks to provide a detailed response.
While critics point to these issues and other allegations of lavish spending, a number of groups have come to Ojulari’s defense.
They argue that the protests and rumours are politically motivated attempts to derail his reform agenda, which aims to bring transparency and efficiency to the NNPCL.
