There is confusion over the alleged sudden resignation of Mr. Bayo Ojulari, the recently-appointed Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL). Reports on Saturday suggested that Ojulari was allegedly pressured into signing a resignation letter on Friday night by operatives of the Economic and Financial Crimes Commission (EFCC).

The incident, described by some sources as a ‘civilian coup,’ is said to have taken place without presidential authorisation, with EFCC Chairman Ola Olukoyede and DSS Director-General Adeola Ajayi reportedly overseeing the operation.

The Presidency has denied the allegations. Special Adviser Bayo Onanuga stated on Saturday that Ojulari remains the substantive head of NNPCL. Ojulari was appointed in April 2025 to lead reforms within the organisation.

Efforts to verify the reports with EFCC spokesman Dele Oyewale were unsuccessful, as he did not respond to calls or messages as of press time.

However, a report Saturday night by the portal The Conclave quoted Ojulari as having confirmed his sudden resignation.

Ojulari, according to the paper, said there was no drama around his resignation, insisting he did it voluntarily.

His clarification, according to The Conclave, was contained in a statement doing the rounds entitled: “REBUTTAL: BAYO OJULARI CLARIFIES RESIGNATION, DISMISSES ‘ABDUCTION’ CLAIMS AS FICTION.”

The statement said that contrary to the sensational and wildly inaccurate report by Peoples Gazette alleging that the Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Bayo Ojulari, was “abducted and forced to resign” by security officials, “we categorically state that the story is nothing more than a poorly scripted work of fiction, better suited for a Nollywood thriller than credible journalism.

“Unlike the Gazette’s dramatic tale of midnight kidnappings and shadowy coups, Mr. Ojulari voluntarily tendered his resignation after due consultations with higher authorities in Abuja.

“His decision followed the recent official trip to Kigali for an oil and gas conference—a legitimate business engagement aimed at advancing Nigeria’s energy sector interests.

“I was neither arrested nor strong-armed into resigning,” Mr. Ojulari clarified with amusement. “In fact, the only ‘pressure’ I faced was from my own conscience and commitment to accountability after the unnecessary controversy stirred around the Kigali trip.

“My resignation was a personal decision, submitted through the appropriate channels—not at gunpoint in some spy movie scenario.”

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 N500 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. (Pieced together from reports by Sunday Vanguard and The Conclave)