The Presidency has officially confirmed the appointment of Bayo Ojulari as the new Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC Ltd), putting an end to the swirling speculations surrounding his alleged arrest by the Economic and Financial Crimes Commission (EFCC) and purported forced resignation.
Ojulari’s confirmation comes amid intense public confusion and media reports suggesting he had been detained by the EFCC over alleged financial improprieties and pressured to step down. However, authoritative sources within the Presidency dismissed the claims as baseless, labeling them a calculated attempt to undermine the new leadership of the national oil company.
In a statement issued late Saturday, the Presidential spokesperson reiterated that Ojulari remains in good standing with the administration and has the full confidence of President Bola Tinubu to lead the NNPC Ltd through ongoing reforms and strategic national energy priorities.
“Mr. Bayo Ojulari has not been arrested, detained, or forced to resign. His appointment stands, and he is focused on delivering on his mandate,” the statement clarified.
Ojulari, a seasoned oil industry executive with decades of experience in upstream operations, was appointed to replace Mele Kyari in a surprising leadership reshuffle that has sparked widespread debate within the petroleum sector.
Industry watchers believe Ojulari’s confirmation signals a renewed effort to restore transparency, efficiency, and public trust in the operations of NNPC Ltd.