NNPCL CEO Bayo Ojulari was allegedly forced to resign under pressure from EFCC and DSS over links to a UK-based oil businesswoman.
Bayo Ojulari, Group CEO of the Nigerian National Petroleum Company Limited (NNPCL), was allegedly forced to sign a resignation letter on Friday, according to a Peoples Gazette report.
The report claims Ojulari was confronted by EFCC chairman Ola Olukoyede and DSS DG Adeola Ajayi, who allegedly pressured him into resigning.
Sources said Ojulari was questioned over his ties to Olatimbo Ayinde, a British-Nigerian oil magnate with increasing influence in the Tinubu administration.
“Mr Ojulari told us he didn’t know Olatimbo Ayinde,” a source told Peoples Gazette.
Ojulari, appointed by President Tinubu in April 2025, has yet to comment on the incident. EFCC spokesman Dele Oyewale also did not respond to enquiries.
NNPCL had recently raised concerns about sabotage within its leadership ranks.
In a development reminiscent of Nigeria’s dark military days, top officials of two federal law enforcement and security bodies have abducted the head of Nigerian National Petroleum Company Ltd, Peoples Gazette can report, forcing him to resign at a secret rendezvous in Abuja.
The incident on Friday night was narrated to The Gazette by national security and law sources familiar with the matter, with some of them describing the operation as a coup d’état because President Bola Tinubu did not sanction it.
Officials said Mr Ojulari was repeatedly questioned about what he might know of Olatimbo Ayinde, a British-Nigerian oil businesswoman who has recently emerged as one of the most powerful forces steering the Tinubu administration.
“Mr Ojulari told us he didn’t know Olatimbo Ayinde,” an official said under anonymity to disclose the matter to The Gazette. “He also said he heard she was trying to control businesses at NNPC and he rejected such moves.”
Ms Ayinde, long known in business circles for her wheeling and dealing, was charged in the United Kingdom for bribing two former Nigerian oil ministers. The Gazette reported on Thursday that anti-graft operatives were ordered to slowwalk and frustrate a request for evidence from British prosecutors for use in their ongoing trial of Ms Ayinde.
Mr Ojulari was appointed in early April by Mr Tinubu, with the Nigerian president saying the decision was largely due to Mr Ojulari’s expertise in hydrocarbon as a former Shell executive in Nigeria.
Mr Ojulari did not immediately return multiple requests seeking comments about the development on Saturday morning. The Gazette has contacted the presidency, SSS and the EFCC for comment.
Mr Ojulari has been under fire since he authorised a trip of NNPC executives and mid-level officials to attend an oil and gas conference in Kigali earlier this month. Mr Ojulari was said to have spent millions of dollars on the trip, although the specific amount remained fuzzy. He denied the allegations, saying his detractors were behind the campaign.