The Group Chief Executive Officer (GCEO) of NNPC Limited (NNPCL), Mr. Bashir Bayo Ojulari may be on his way out of officer, TheCable has been informed.
Although there are reports that he has resigned, the online newspaper learnt from insiders that that is not the case yet, ‘but only a miracle will keep him in office at this stage’.
President Bola Tinubu, who appointed him to replace Mallam Mele Kyari four months ago, is said to be ‘livid’ over security reports on Ojulari’s activities so far in office.
The GCEO has been a subject of money laundering investigations following the alleged transfer of millions of dollars to the account of AA&R Investment Group, a company with interests in energy, agribusiness, logistics, and information communication technology.
The Founder/Group Managing Director of AA&R, Abdullahi Bashir-Haske is married to the daughter of a former Vice President, Alhaji Atiku Abubakar.
Atiku is a presidential hopeful on the platform of the African Democratic Congress (ADC) and is likely to come up against Tinubu in 2027.
Atiku’s son-in-law, Bashir-Haske reportedly enjoyed regular NNPCL patronage when Maikanti Baru was the Chief Executive from 2016 to 2019. Baru died in 2020 during the Covid pandemic.
Kyari, who was the Group General Manager of the Crude Oil Marketing division of the NNPCL, succeeded Baru.
When he took over the reins at NNPCL in 2019, Kyari was reportedly unhappy with Bashir-Haske and subsequently cut him off from NNPCL patronage.
Bashir-Haske, however, continued to do business with Ojulari, who operated in the oil sector in various capacities, notably as Managing Director of Shell Nigeria Exploration and Production Company, and later as Founder/Chairman of BAT Advisory & Energy Company Nigeria Limited.
BAT Advisory & Energy advised Renaissance Africa Energy Company Limited in its $2 billion takeover of Shell Petroleum Development Company of Nigeria Limited.
Following his appointment as NNPCL GCEO in April, Ojulari restored all the privileges Bashir-Haske had been denied by Kyari.
Some of the transactions between NNPCL and Bashir-Haske were flagged by the Economic and Financial Crimes Commission (EFCC), sources told TheCable.
The anti-graft body has questioned Bashir-Haske, accusing him of orchestrating ‘large-scale money laundering through sophisticated financial structures’.
There are now allegations that NNPCL was, perhaps inadvertently, funding the opposition through him.
According to insiders, ‘the President is livid with rage. He sees this as a stab in the back.
‘A form of soft landing will be provided for Ojulari to exit, as removing him now seems to be too early in the day.
‘What Ojulari has been doing amounts to sleeping with the enemy’.
