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Tension Over! Bayo Ojulari Returns To NNPCL Office Amid Sh*ck Exit Speculations
The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, resumed office on Monday, putting to rest widespread rumours about his alleged resignation.....KINDLY READ THE FULL STORY HERE▶
Ojulari arrived at the NNPCL headquarters at approximately 9:35 a.m., debunking viral social media claims that he had vacated his position. A top security source confirmed to Vanguard that Ojulari was actively carrying out his official responsibilities, stating, “The GCEO is in the office performing his duties as usual. Reports of his resignation circulating online are entirely false.”
In response to the speculation, an internal memo was reportedly issued within the company, urging staff to disregard the unverified claims.
Ojulari, who assumed office four months ago after being appointed by President Bola Tinubu to succeed Mele Kyari, remains at the helm of Nigeria’s state-run oil giant, overseeing vital operations during a crucial phase of restructuring and reform aimed at improving performance and investor confidence.
However, his continued tenure comes amid mounting controversy. Multiple reports suggest President Tinubu is reportedly “furious” over classified security briefings alleging financial impropriety linked to Ojulari.
According to sources within the Economic and Financial Crimes Commission (EFCC), Ojulari is under investigation for allegedly authorizing substantial dollar transactions to AA&R Investment Group—a company involved in energy, agribusiness, logistics, and ICT.
AA&R is founded by Abdullahi Bashir-Haske, a known associate and son-in-law of former Vice President Atiku Abubakar. The EFCC is reportedly probing the company for suspected large-scale money laundering, accusing Bashir-Haske of utilizing complex financial channels to move illicit funds.
Some flagged transactions between NNPCL and AA&R have raised alarm within security and political circles, with concerns that public funds could be indirectly bolstering opposition figures, particularly Atiku, who is expected to contest the 2027 presidential election under the African Democratic Congress (ADC).
Sources claim that while Bashir-Haske lost NNPC patronage under Mele Kyari’s leadership, his business ties were reportedly restored following Ojulari’s appointment in April 2025. Ojulari previously served as Managing Director of Shell Nigeria Exploration and Production Company and was the founder of BAT Advisory & Energy. He also advised Renaissance Africa Energy in its $2 billion acquisition of Shell’s onshore assets.
The growing allegations have reportedly sparked tensions within the presidency, with insiders quoting President Tinubu as feeling “betrayed” by Ojulari’s alleged dealings. One source described the president’s mood as “one of betrayal and rage,” characterizing Ojulari’s actions as “sleeping with the enemy.”
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