Raphael Kanu
The Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Bayo Ojulari, was allegedly forced to sign a resignation letter following an intense encounter with top federal security officials, according to multiple sources.
Sources familiar with the development said Ojulari was accosted on Friday and compelled to tender his resignation under pressure from the Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, and the Director-General of the State Security Service (SSS), Adeola Ajayi.
Insiders claimed the NNPCL boss was interrogated over alleged connections with Olatimbo Ayinde, a British-Nigerian oil magnate who is reportedly emerging as a significant behind-the-scenes figure in President Bola Tinubu’s administration. Ojulari was said to have strongly denied knowing Ayinde or having any form of dealings with her.
Efforts to obtain official comments from the EFCC were unsuccessful, as its spokesperson, Dele Oyewale, had not responded to media inquiries at the time of filing this report. Mr. Ojulari also declined to comment on the development, despite repeated contact attempts.
This incident comes just weeks after the NNPCL raised alarm over attempts to destabilize its leadership structure. Mr. Ojulari, who was appointed in April 2025 by President Tinubu, has been overseeing key reforms and upstream activities at the state-owned energy giant.
The alleged forced resignation adds a new layer of uncertainty to the leadership of Nigeria’s most strategic public enterprise, stoking public concern about political interference and power plays in the country’s oil and gas sector.