By ebosele@hotmail.com –
The Executive Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, has dismissed online reports alleging his involvement in $279 million fraud linked to the Frontier Exploration Fund, describing the publication as sponsored fake news aimed at tarnishing his reputation and that of the Service.
The report had alleged that $279 million was transferred from the Frontier Exploration Fund account to unnamed accounts, claiming that Adedeji and the NRS were aware of the alleged “illegal” movement of the funds.
It further claimed that the alleged transaction had placed the NRS chairman under pressure, with stakeholders reportedly demanding a forensic audit of the Fund’s account.
However, reacting to the report in a telephone interview, Adedeji described the allegations as completely false and malicious.
“That report is not true in any way. It is pure fake news sponsored by some jobless persons whose pastime is to throw mud at high performers in the President Tinubu government,” he said.
Adedeji described the publication as “a brand of cheap journalism lacking in ethics and professionalism but heavy with malicious intentions.”
He also alleged that the similarity in the language and presentation of the reports published by different online platforms indicated that the stories originated from the same source.
“To prove to you that it was sponsored, take a critical look at the storyline and language. They are the same language and style in all the reports, meaning that one person wrote it and distributed across gullible online platforms,” he said.
The NRS chairman further said the reports demonstrated a lack of understanding of the purpose of the Frontier Exploration Fund and the procedures governing its disbursement.
He explained that the Frontier Exploration Fund was established under Section 9 of the Petroleum Industry Act (PIA) 2021 to finance petroleum exploration activities in frontier basins where commercially viable hydrocarbon reserves have not been fully established.
According to him, the designated frontier basins include the Bida, Benue Trough, Anambra, Chad, Sokoto and Dahomey Basins.
He said the Fund was intended to finance activities including geological mapping, seismic surveys, exploratory drilling, appraisal wells, basin studies and other related petroleum exploration activities.
Adedeji maintained that the allegations were unfounded and aimed at creating a false impression about the operations of the NRS and his stewardship of the Service.
