The Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has reportedly been compelled to sign a resignation letter under pressure from security officials.
According to a report by Peoples Gazette on Saturday, Ojulari was allegedly intercepted on Friday by operatives of the Economic and Financial Crimes Commission (EFCC) and the State Security Service (SSS), who pressured him to step down.
Sources familiar with the matter disclosed that EFCC Chairman Ola Olukoyede and SSS Director-General Adeola Ajayi were involved in the incident.
During the encounter, Ojulari was reportedly questioned about his relationship with Olatimbo Ayinde, a British-Nigerian oil businesswoman who has gained significant influence in President Bola Tinubu’s administration. Ojulari reportedly denied any knowledge of Ayinde.
Neither the EFCC nor Ojulari had responded to requests for comment at the time of reporting. The alleged forced resignation comes amid recent concerns raised by NNPCL about attempts to undermine its leadership.
Ojulari was appointed by President Tinubu in April 2025 to lead the national oil company. His sudden departure, if confirmed, could signal internal power struggles within Nigeria’s energy sector.
Analysts suggest the development may be linked to broader tensions over control of the country’s oil resources and governance of the state-owned firm.
The reported incident raises questions about due process and the independence of key institutions, particularly as no official reason has been provided for the alleged pressure on Ojulari.
Stakeholders are awaiting formal statements from the presidency, NNPCL, and security agencies to clarify the circumstances surrounding the CEO’s exit.
This development follows previous controversies involving high-profile resignations in Nigeria’s oil sector, often tied to political and economic interests. Observers warn that instability in NNPCL’s leadership could disrupt ongoing reforms in the petroleum industry.
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cc: Daily Post Ng
