The Presidency has not confirmed that Mr. Bayo Ojulari, the Group Chief Executive Officerof the Nigerian National Petroleum Company Limited, NNPCL,NNPCL, has not resigned his position.
Presidential spokesman, Bayo Onanuga said Ojulari remains in charge of the national oil company and has not been removed or forced to resign, contrary to viral reports that trended on Friday and Saturday across social media platforms and blogs.
The development comes on the heels of public agitation over a reported $21 million (₦34.65 billion) scandal, allegedly linked to economic sabotage, illicit contract kickbacks, and non-remittance of funds to the Federation Account between October and December 2024.
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Top Presidency source hinted Sunday that Ojulari’s fate is hanging in the balance as powerful interest close to President Bola Tinubu plead on his behalf to overlook his “error of judgement “.
Ceedible News learnt that his offence is the payment of outstanding debts inherited from his predecessor without due diligence and “political correctness.”
Civil society coalitions and labour activists have accused the CEO of overseeing questionable financial dealings, with particular mention of alleged diversion of ₦500bn in oil revenues; dubious contracts issued to pipeline surveillance companies; and links to a detained associate, Abdullahi Bashir Haske, a controversial oil trader. Haske is related to Tinubu’s main political opponent, Atiku Abubakar.
Conflicting reports on Friday alleged that Ojulari was “picked up” by operatives of the Economic and Financial Crimes Commission. EFCC, and the Department of State Services,DSS, and coerced into signing a resignation letter.
While Peoples Gazette and other platforms pushed that narrative, official responses from security sources have denied the story as “fabricated” and “fake news.”
“Neither the EFCC nor the DSS has arrested or compelled Mr. Ojulari to resign,” a senior security source said under condition of anonymity.
As the allegations gained traction, various advocacy groups took to the streets. Prominent were anti-Ojulari protests organised by OilWatch Nigeria and Workers’ Rights Alliance, protesters staged sit-ins from August 1–3 at the NNPCL Towers, the National Assembly, and EFCC offices while some rented crowds carried placards bore inscriptions demanding “Ojulari’s arrest now!” and “Return our oil money!”
The company’s failure to manage the narrative has worsened the confusion, especially after its Chief Corporate Communications Officer, Mr. Olufemi Soneye, resigned two weeks ago.
Industry insiders say the absence of a clear voice from NNPCL’s leadership team has allowed misinformation to flourish unchecked.
As at Sunday afternoon, there was no formal resignation letter from Ojulari; no official charges from EFCC or DSS; no clear corporate statement from NNPCL except rising public pressure for accountability.
The situation remains fluid with economic watchers warning that continued ambiguity could erode investor confidence and affect Nigeria’s oil governance trajectory.
Crediblenewsng.com
