NNPCL GCEO Bayo Ojulari Allegedly Coerced into Signing Resignation Letter

Fresh controversy has emerged over the leadership of the Nigerian National Petroleum Company Limited (NNPCL), as its Group Chief Executive Officer (GCEO), Bayo Ojulari, has allegedly been compelled to sign a resignation letter under pressure.

This claim was reported on Saturday by Peoples Gazette, citing sources familiar with the matter.

According to the report, Mr. Ojulari was allegedly confronted on Friday by Ola Olukoyede, the chairman of the Economic and Financial Crimes Commission (EFCC), and Adeola Ajayi, the Director-General of the State Security Service (SSS). The high-ranking officials reportedly pressured him into signing a resignation letter.

Sources told the platform that Mr. Ojulari was intensely interrogated regarding his possible connection to Olatimbo Ayinde, a British-Nigerian oil magnate who has recently gained significant influence within the administration of President Bola Ahmed Tinubu.

“He insisted he had no links to Olatimbo Ayinde,” a confidential source quoted by the publication said.

So far, the EFCC spokesperson, Dele Oyewale, has not issued an official response to media inquiries. Likewise, Mr. Ojulari has not commented despite multiple attempts to reach him for a statement as of Saturday afternoon.

It’s important to note that NNPCL recently raised concerns about deliberate sabotage targeting its leadership structure, raising further questions about the company’s internal dynamics and political undercurrents.

Recall that Bayo Ojulari was appointed as the GCEO of NNPCL in April 2025 by President Bola Ahmed Tinubu, marking a strategic move to stabilize the national oil sector.