The Group Chief Executive Officer of the Nigeria National Petroleum Company (NNPC) Limited, Bayo Ojulari, officially resumed duties on Monday amid widespread speculation about his alleged resignation.
News360 Info understands that Ojulari arrived at the NNPC headquarters at about 9:35 am, dispelling social media rumours suggesting that he had stepped down from his position.
A top security source confirmed to Vanguard that Ojulari was already engaging in his normal official activities.
“The GCEO is in the office performing his duties as usual. Reports of his resignation making the rounds on social media are entirely false,” the source stated.
The source further revealed that an internal memo had been circulated within the NNPC, advising staff members to disregard the unverified claims.
Ojulari, who assumed leadership of the state-owned oil company, continues to oversee strategic operations critical to Nigeria’s petroleum industry.
The clarification comes as NNPC navigates ongoing reforms and restructuring aimed at boosting efficiency and sustaining market confidence.
Meanwhile, reports earlier suggested that President Bola Tinubu, who appointed Ojulari just four months ago to replace Mele Kyari, is reportedly “livid” over damning security reports detailing questionable financial dealings linked to the NNPC boss.
News360 Info reports that Ojulari is under investigation by the Economic and Financial Crimes Commission (EFCC) over alleged multimillion-dollar transfers to AA&R Investment Group, a company involved in energy, agribusiness, logistics, and ICT.
Abdullahi Bashir-Haske, founder of AA&R and son-in-law of former Vice President Atiku Abubakar, has been accused of orchestrating “large-scale money laundering through sophisticated financial structures.”
EFCC sources revealed that some transactions between NNPC and AA&R were flagged as potentially illegal, raising concerns that the national oil firm may be indirectly “funding the opposition” through Bashir-Haske.
Bashir-Haske, who previously enjoyed extensive NNPC patronage under former chief Maikanti Baru (2016–2019), reportedly fell out of favour with Kyari, Baru’s successor, but was reinstated under Ojulari’s leadership in April 2025.
Ojulari, a former Managing Director of Shell Nigeria Exploration and Production Company and founder of BAT Advisory & Energy, had previously advised Renaissance Africa Energy on its $2 billion takeover of Shell Petroleum Development Company.
Upon his appointment, he allegedly restored privileges to Bashir-Haske, raising political concerns given Atiku’s position as a leading presidential hopeful under the African Democratic Congress (ADC), likely to challenge Tinubu in 2027.
Presidency insiders described Tinubu’s reaction as one of “betrayal and rage,” saying the president views Ojulari’s actions as “sleeping with the enemy.
