n. Combination of the negative 'nay' and the pejorative 'a-hole,' used to describe an individual who uses his limited power to say no.
A typical nayhole operates in a highly bureaucratic environment and has limited authority to veto something but does not have the authority to say yes. Nayholes gain satisfaction from killing projects as a way of artificially inflate their personal and organizational sense of importance.
Originally a term used by professional salespeople, this has entered the general vernacular.
"I almost had the project approved, and then Bob got wind of it. He's a nayhole: it's a rare day he'd say yes to free beer."
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