Nigeria: EFCC refutes rumours regarding NNPCL CEO’s alleged resignation

Nigeria: EFCC refutes rumours regarding NNPCL CEO’s alleged resignation
Bayo Ojulari / NNPCL
By bne IntelliNews: Editorial desk August 5, 2025

Nigeria’s Economic and Financial Crimes Commission (EFCC) has denied claims that it had placed the CEO of the Nigerian National Petroleum Co. Ltd. (NNPCL) Bayo Ojulari under duress in a bid to see the official resign.

The commission’s refutations emerged following speculation around Ojulari’s alleged resignation, according to The Punch. However, the CEO has since resumed his duties and said little regarding the rumours.

Despite this, the publication highlighted that a high-ranking source at the EFCC had noted that the agency received a petition calling for the removal of Ojulari; however, rumours of his interrogation and forced resignation had been spread on social media.

Speaking to The Punch on August 3 on the condition of anonymity, the EFCC source continued to dismiss the matter in its entirety.

Regarding the rumours, the official said: “Those are fake news. It is not true that the EFCC abducted him [Ojulari]. On Thursday, protesters came to our office with a petition that they want the commission to investigate the NNPCL chairman”. He continued: “These people have the right to submit petitions. We told them we would look into the petition. So, where is the abduction? People should be careful about spreading rumours”.

Although rumours surrounding the abduction of Ojulari remain in the realm of fiction, some sources within the NNPCL have said that certain elements of the Nigerian government are dissatisfied with Ojulari’s leadership style, owing to his preference of running the state-owned oil company as a commercial enterprise rather than a politically-influenced one – in contrast with his predecessor Mele Kyari, who was dismissed by President Bola Tinubu earlier this year due to poor performance.

On August 4, Ojulari turned up on a virtual call to the ongoing Nigeria Annual International Conference and Exhibition – organised by the Society of Petroleum Engineers – to make a speech, ignoring any resignation or kidnapping rumours.

The official instead called for a “coordinated, strategic approach to make Nigeria’s energy sector more attractive to global investors,” and added that the country needed a “bankable case for energy investments,” putting all claims of illegal activities to rest, according to The Punch.

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