By Peter Onyekachukwu 
By Peter Onyekachukwu
The embattled Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, Bashir Bayo Ojulari, may soon lose his position following security reports linking him to controversial financial dealings.
Though unconfirmed reports suggest he has resigned, credible sources revealed that Ojulari has not yet stepped down, but insiders say “only a miracle will keep him in office at this stage.”
President Bola Ahmed Tinubu, who appointed Ojulari barely four months ago to replace Mele Kyari, is reportedly furious over allegations of money laundering involving millions of dollars allegedly transferred to AA&R Investment Group.
The company is owned by Abdullahi Bashir-Haske, son-in-law to former Vice President Atiku Abubakar. Bashir-Haske had previously enjoyed significant NNPC patronage under the late Maikanti Baru, who served as GCEO from 2016 to 2019.
Sources disclosed that when Kyari succeeded Baru, he severed ties with Bashir-Haske, a move Ojulari reversed upon assuming office in April 2025.
The Economic and Financial Crimes Commission (EFCC) has reportedly flagged some transactions between NNPC and AA&R, questioning Bashir-Haske on alleged “large-scale money laundering through sophisticated financial structures.”
There are growing concerns that the funds may have been used to indirectly support the opposition. “The president is livid with rage. He sees this as a stab in the back,” a source familiar with the matter said.
Ojulari, a former Managing Director of Shell Nigeria Exploration and Production Company (SNEPCo), had been a key player in the oil industry before his appointment. His company, BAT Advisory & Energy, advised Renaissance Africa Energy in its $2 billion takeover of Shell Petroleum Development Company of Nigeria Limited (SPDC).
As the scandal unfolds, pressure is mounting on Ojulari to resign, with many in government circles saying his days at the helm of NNPC are numbered.