NANS Demands Probe into Alleged $279M Oil Fund Transfer

The National Association of Nigerian Students (NANS) has called for the removal of Dr. Zacch Adedeji, the Executive Chairman of the Nigeria Revenue Service, and an investigation into an alleged $279 million transfer from the Frontier Exploration Fund. NANS issued a 72-hour ultimatum to the federal government, threatening nationwide protests if their demands are not addressed.

The association claims the transfer was made without the necessary approvals as mandated by the Petroleum Industry Act, 2021, raising concerns about the financial challenges facing tertiary institutions in Nigeria. NANS emphasized the need for sustained investment in education and highlighted previous tensions between Adedeji and legislative bodies, including his failure to respond to invitations from the National Assembly.

They demanded a forensic examination of the transaction, a legislative investigation, and the involvement of the Economic and Financial Crimes Commission and the Independent Corrupt Practices and Other Related Offences Commission to determine the identities of those involved and the funds' destination.