The days of Bashir Bayo Ojulari as the group CEO of the Nigerian National Petroleum Corporation (NNPC) Limited are numbered.
Although there are reports that he has resigned, it was learnt from insiders that he has not thrown in the towel yet, “but only a miracle will keep him in office at this stage”.
President Bola Tinubu, who appointed him to replace Mele Kyari only four months ago, is said to be “livid” over security reports on Ojulari’s activities so far in office.
The NNPC 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.
Abdullahi Bashir-Haske, the founder and group managing director of AA&R, is married to the daughter of Atiku Abubakar, the former vice-president.
Atiku is a presidential hopeful on the platform of the African Democratic Congress (ADC) and is likely to come up against Tinubu in 2027.
Bashir-Haske, Atiku’s son-in-law, reportedly enjoyed regular NNPC 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 national oil company, succeeded Baru.
When he took over the reins, Kyari was reportedly unhappy with Bashir-Haske’s attitude over Baru’s estate and subsequently cut him off from NNPC patronage.
Bashir-Haske, however, continued to do business with Ojulari, who was operating in the oil sector in various capacities, notably as MD of Shell Nigeria Exploration and Production Company (SNEPCo) and later as founder/chairman of BAT Advisory & Energy Company Nigeria Ltd.
BAT Advisory & Energy advised Renaissance Africa Energy Company Limited in its $2 billion takeover of Shell Petroleum Development Company of Nigeria Limited (SPDC).
Following his appointment as NNPC GCEO in April, Ojulari restored all the privileges Bashir-Haske had been denied by Kyari.
Some of the transactions between NNPC 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 NNPC was, perhaps inadvertently, funding the opposition through him.
“The president is livid with rage. He sees this as a stab in the back,” insiders told TheCable.
“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.”
©TheCable
