NRS Boss Under Fire Over Alleged Secret Transfer of $279m Oil Fund

The Executive Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, has come under intense scrutiny following allegations that $279 million was secretly transferred from Nigeria’s Frontier Exploration Fund account without the approval of designated signatories. Stakeholders are demanding a comprehensive forensic investigation, answers on the destination of the funds, the legal authority for the transaction, and the identity of the beneficiaries, as the controversy threatens to escalate into a major governance crisis.

Fresh controversy has enveloped the management of Nigeria’s Frontier Exploration Fund following allegations that $279 million was secretly transferred from the fund’s account without the approval of designated signatories, prompting calls for a comprehensive forensic investigation into the transaction. The allegations have placed the Executive Chairman of the Nigeria Revenue Service, Zacch Adedeji, under scrutiny, with stakeholders demanding explanations over the circumstances surrounding the movement of the funds and whether due process was observed. The timing of the allegations is particularly significant, coming just weeks after President Bola Tinubu signed Executive Order 9, which redirected revenues previously earmarked for the Frontier Exploration Fund into the Federation Account pending broader fiscal reforms, creating a complex legal and political backdrop to the controversy.

According to the allegations, the transfer was executed without the authorisation or signatures of the officials designated to approve transactions from the Frontier Exploration Fund account, raising fundamental questions about internal controls and financial oversight within the agency responsible for administering the fund. It was further alleged that no official explanation has been provided regarding the destination of the funds, the legal authority for the transfer, or the beneficiaries of the transaction, leaving stakeholders and oversight bodies in the dark about what may have happened to the substantial sum. The lack of transparency surrounding the transaction has only intensified calls for immediate investigation and accountability.

The claims have triggered concerns among stakeholders in the oil and gas industry, who argued that if established, such a transaction would raise serious questions about financial governance, transparency, and compliance with the Petroleum Industry Act (PIA) 2021, which created the fund and stipulates how it should be managed. Consequently, they are calling on anti-corruption agencies, the National Assembly, and other oversight institutions to undertake an independent forensic audit of the account to determine whether the transaction complied with existing laws and financial regulations. The stakeholders also want investigators to establish who authorised the transfer, where the money was moved to, whether the funds were subsequently utilised for purposes permitted under the law, and whether any public official violated financial management procedures, leaving no stone unturned in the search for the truth.

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The controversy surrounding Adedeji comes amid a parallel legislative confrontation between the House of Representatives Committee on Federal Character and the NRS boss, adding another layer of pressure on the embattled revenue service chairman. The committee has accused Adedeji of repeatedly failing to honour legislative invitations, ordering the immediate suspension of all NRS recruitment exercises nationwide. Lawmakers have threatened to invoke Sections 88 and 89 of the Constitution to compel his appearance, with the committee chair, Hon. Ahmed Idris Wase, declaring: “No agency, commission, or public official is above the Constitution or beyond the reach of parliamentary oversight.” The committee noted that Adedeji had ignored at least seven previous official invitations dating back to October 2023, suggesting a pattern of disregard for legislative oversight that has now come to a head alongside the more serious allegations of financial impropriety.

The Frontier Exploration Fund is one of the major innovations introduced under Section 9 of the Petroleum Industry Act (PIA), 2021, representing a significant departure from previous approaches to petroleum sector governance in Nigeria. The fund was created to finance petroleum exploration in frontier basins where commercially viable hydrocarbon deposits have not yet been fully established, with the objective of expanding Nigeria’s proven oil and gas reserves by supporting geological mapping, seismic surveys, exploratory drilling, appraisal wells, basin studies, and other exploration activities considered necessary to unlock hydrocarbon resources in underexplored areas. Nigeria’s designated frontier basins include the Chad Basin, Sokoto Basin, Bida Basin, Benue Trough, Anambra Basin, and Dahomey Basin, with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) also holding the statutory authority to designate additional frontier basins where exploration activities may be undertaken.

To ensure sustainable funding for the programme, the PIA provides that 30 per cent of NNPC Limited’s profit oil and profit gas generated from Production Sharing Contracts (PSCs), Profit Sharing Contracts, and Risk Service Contracts shall be paid into the Frontier Exploration Fund, representing a significant commitment of public resources to high-risk exploration activities. The law requires NNPC Limited to remit the money into a dedicated Frontier Exploration Fund Escrow Account within 21 days after the end of every quarter, with administration of the fund resting with the NUPRC, which is responsible for establishing and managing the escrow account, approving exploration programmes, monitoring utilisation of the funds, and ensuring that the resources are deployed strictly for frontier exploration activities in accordance with the provisions of the PIA.

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Since its creation, however, the Frontier Exploration Fund has remained one of the most debated aspects of the Petroleum Industry Act, with passionate arguments advanced on both sides of the policy divide. Supporters argue that Nigeria must continue exploring new basins to replace depleting reserves in the Niger Delta and maintain its long-term position as a leading oil and gas producer, contending that without sustained investment in frontier exploration, the country’s reserve replacement ratio could decline, threatening future production and government revenues. Critics, on the other hand, have questioned the decision to allocate as much as 30 per cent of NNPC Limited’s profit oil and profit gas to high-risk exploration projects, arguing that the money could be better utilised for infrastructure development, healthcare, education, or distributed through the Federation Account for the benefit of all tiers of government. Oil-producing states have also consistently argued that the funding arrangement reduces revenues available for statutory allocation, while some industry experts have questioned whether frontier exploration should continue to receive significant public funding at a time when the global energy transition is accelerating investment away from fossil fuels.

The debate intensified in 2026 after President Bola Tinubu signed Executive Order 9, directing that revenues previously earmarked for the Frontier Exploration Fund should instead be paid into the Federation Account pending broader fiscal reforms, a move that fundamentally altered the funding landscape for frontier exploration. The South-South Governors Forum welcomed the decision, describing it as a critical shift towards restoration of constitutional integrity in Nigeria’s petroleum sector that would eliminate “opaque deductions” and effectively strip NNPC Limited of the “nebulous 30 per cent Frontier Exploration Fund,” which often led to large idle cash balances. However, the directive immediately generated legal and policy debates over whether an executive order could validly suspend or alter a funding mechanism expressly established by an Act of the National Assembly without legislative amendment. The African Energy Council warned that courts may declare the executive order “ultra vires,” noting that the PIA “is a law passed by the National Assembly. An Executive Order is a subsidiary instrument; it implements law; it does not amend it.”

It is against this backdrop that the latest allegations concerning the alleged $279 million transfer have attracted widespread attention, adding fresh fuel to an already heated debate about the management of Nigeria’s petroleum revenues. Stakeholders insist that irrespective of the ongoing policy debate surrounding the future of the Frontier Exploration Fund, every transaction involving the account must comply with the provisions of the law, established financial control procedures, and internationally accepted standards of public financial management. They argue that any movement of public funds without appropriate authorisation, if proven, would undermine public confidence in the management of petroleum revenues and weaken transparency in one of the country’s most strategic sectors. Accordingly, they are urging relevant oversight institutions to conduct a detailed forensic examination of the transaction, publish their findings, and hold accountable any individual or institution found to have breached the law.

They also called on the Federal Government to provide a comprehensive explanation regarding the allegations in order to reassure Nigerians and investors that the management of petroleum revenues remains transparent and subject to strict accountability mechanisms, particularly given the country’s ongoing efforts to attract foreign investment in its oil and gas sector. As of the time of publication, the allegations regarding the $279 million transfer have not been independently established, and any response from the relevant authorities would be important in determining the facts surrounding the transaction. The coming weeks are likely to be crucial in determining whether the allegations are substantiated and what consequences may follow for those involved, with oversight bodies, anti-corruption agencies, and the public all watching closely for developments.

NRS Boss Under Fire Over Alleged Secret Transfer of $279m Oil Fund

VIDEO: Lagos Bridge Vandalism: 27 Arrested as Scavengers Strip Pillars of Iron Bars

The Lagos State Government has uncovered a disturbing act of infrastructure vandalism beneath the newly constructed bridge linking FESTAC Town to Alakija, where scavengers allegedly broke into concrete pillars to remove embedded iron rods for sale as scrap metal. Governor Babajide Sanwo-Olu has ordered a manhunt for the perpetrators and directed that people living under bridges across the state be cleared out, while assuring commuters that the bridge’s structural integrity remains intact.

The discovery was made during a special enforcement operation conducted by state government agencies along the Lagos-Badagry Transnational Highway, in line with Governor Sanwo-Olu’s directive to rid the corridor of infractions, environmental pollution, illegal motor parks, and roadside trading. A viral video seen by multiple news outlets showed extensive damage to the bridge pillars, with concrete broken open and reinforcing steel bars completely stripped away. In the footage, an unidentified witness expressed alarm, stating that scavengers had been targeting all the pillars supporting the bridge and warned of an imminent collapse if the destruction continued. The witness, speaking in the viral video, described the bridge as having been constructed by the Federal Housing Authority about five years ago and questioned how scavengers could be allowed to engage in such destructive activities in Lagos, warning that if the vandalism continued for another two years, the bridge would face a collapse.

This shocking revelation has sent ripples of concern across the state, raising fundamental questions about the safety of public infrastructure and the effectiveness of existing security measures designed to protect critical assets. The incident has also highlighted the growing challenge of urban scavenging and the criminal networks that profit from the sale of stolen structural materials as scrap metal, a trade that has become increasingly lucrative in recent years. The widespread sharing of the viral video on social media platforms has amplified public outrage and placed renewed pressure on authorities to take decisive action against those responsible for this act of economic sabotage.

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Lagos State Commissioner for Information and Strategy, Mr Gbenga Omotoso, condemned the vandalism in strong terms, describing it as “barbaric, criminal and uncivilised” . He emphasised that bridges are critical public infrastructure and their surroundings cannot be allowed to become residential settlements or havens for criminal activities. “The bridges are not residential homes, and no one should be found living there,” Omotoso stated, underscoring the government’s determination to protect these vital assets from further degradation. According to him, the state government had watched the viral video showing the destruction and would ensure that those responsible were brought to justice. “It is clear that those behind this dastardly act are not decent people. They are the sort of persons who should not be in Lagos. The governor has ordered a probe and the arrest of the perpetrators. The full weight of the law will be visited on those who did it,” Omotoso said, sending a clear message that vandalism would not be tolerated under any circumstances. The commissioner disclosed that the government had already carried out clearance operations under bridges in parts of the state and was extending the exercise to other locations. “We have cleared the under bridges in Obalende and Ojora. Lagos-Badagry axis is being cleared of miscreants. We are extending the clean-up to all other bridges in Lagos. It is a security matter,” he said, emphasising that the protection of public infrastructure is a top priority for the current administration.

The Lagos State Government has arrested 27 persons in connection with the vandalism, marking a significant breakthrough in the investigation. Commissioner for the Environment and Water Resources, Tokunbo Wahab, disclosed the arrests in a post on X on Friday following a joint midnight enforcement operation beneath the bridge involving officers of the Rapid Response Squad (RRS) and the Kick Against Indiscipline (KAI) task force. “Investigations revealed that suspected hoodlums had deliberately vandalised critical structural components of the bridge by removing iron rods, steel reinforcements, cables, and other supporting materials essential to the integrity of the infrastructure,” Wahab stated. He described the act as a criminal one that poses a serious threat to public safety and undermines the government’s investment in critical infrastructure. Wahab confirmed that the suspects “will be prosecuted in accordance with the extant laws of Lagos State” . He reaffirmed the government’s commitment to protecting public infrastructure and its resolve to take decisive action against individuals or groups engaged in acts of vandalism, environmental infractions, and other criminal activities that threaten the safety and wellbeing of residents. The arrests have been widely welcomed by residents and stakeholders who had expressed concern over the growing incidence of infrastructure vandalism across the state, with many calling for the suspects to face the full weight of the law to serve as a deterrent to others.

Governor Babajide Sanwo-Olu, reacting to the incident in a statement posted on X, described the act as a direct assault on the state’s socio-economic assets and warned that his administration would enforce zero tolerance against destruction of public property. “Lagos will not tolerate any act of vandalism because it is barbaric and criminal,” Sanwo-Olu was quoted as saying, reinforcing his administration’s commitment to safeguarding public assets. The governor confirmed that anyone found culpable in the “horrendous, shameful and condemnable incident” will face the law. Reassuring commuters and residents on the safety of the critical transport link, Sanwo-Olu confirmed that technical assessments carried out by state engineers showed no compromise to the core engineering framework. “I have been informed by officials of the Office of Infrastructure who visited the bridge that the structural integrity of the bridge is intact and remedial work will be executed immediately to protect the columns,” the governor said. Stressing the collective responsibility required to safeguard civic infrastructure, the governor called on residents to remain vigilant and report suspicious activities around public utilities, emphasising that community vigilance is essential in the fight against infrastructure vandalism. He also directed security agencies to intensify patrols around all major bridges and infrastructure projects across the state to prevent a recurrence of such incidents.

The latest incident has brought renewed attention to the vulnerability of public infrastructure to vandals and scavengers who target metal components for their scrap value. Beyond the cost of replacing stolen materials and repairing damaged infrastructure, attacks on reinforcing steel embedded in bridge pillars could raise questions about the continued integrity of affected structures and the need for prompt technical assessment. The incident recalls similar cases of vandalism reported on the Third Mainland Bridge, where suspects were arrested in connection with the removal of newly installed infrastructure, including solar-powered reflective road studs and bridge railings. Authorities have since intensified surveillance and patrols around major bridges, with CCTV systems deployed to assist in identifying and tracking offenders. The recurrence of such incidents has prompted calls for stricter penalties and enhanced security measures to deter would-be vandals, with some experts advocating for the deployment of advanced surveillance technology and the creation of specialised units to combat infrastructure crime. The government’s probe is expected to establish the extent of the damage to the bridge in the video, identify those responsible, and determine whether other bridges in the state have suffered similar attacks. This comprehensive investigation aims to provide a full picture of the scale of infrastructure vandalism in Lagos and inform strategies to prevent future occurrences.

Some residents who reacted to the development condemned the alleged vandalism and called for stricter enforcement and appropriate punishment for offenders. A resident identified as @Primax2U suggested that the government should also address some of the socio-economic factors that could encourage people to engage in scavenging and other activities to make a living. “As much as it’s bad destroying government property and risking lives, government needs to also assist in subsidising basic amenities or, better still, create job opportunities that would definitely remove more idle minds to more productive things than destruction to make a living,” the resident said, highlighting the complex socio-economic dynamics that often underpin such criminal activities. Another resident, @tycityevents, expressed concern over the alleged removal of structural materials from beneath the bridge, warning that if urgent action isn’t taken, the bridge could be at serious risk. These voices reflect a broader conversation about the need for a multi-faceted approach to addressing infrastructure vandalism, one that combines enforcement, community engagement, and socio-economic interventions to address the root causes of such destructive behaviour. Other residents called for the government to consider offering amnesty and skills acquisition programmes to scavengers as a way of channelling their energy into productive ventures, while also cracking down on the illegal scrap metal trade that fuels the destruction of public assets.

Omotoso appealed to residents to remain vigilant and regard the protection of public infrastructure as a collective responsibility. He urged Lagosians who notice suspicious activities around bridges and other government infrastructure to immediately alert security agencies, saying vandalism of such facilities endangered not only government property but also the lives of people who use them. This appeal comes as the government intensifies its efforts to protect public assets and ensure the safety of all residents. The commissioner emphasised that community involvement is crucial in identifying and preventing acts of vandalism, and called on all Lagosians to play their part in safeguarding the state’s infrastructure. As the investigation continues and legal proceedings against the 27 suspects get underway, the Lagos State Government has reiterated its commitment to protecting public infrastructure and ensuring that those who engage in such destructive acts face the full consequences of their actions. The incident serves as a stark reminder of the challenges facing rapidly growing cities like Lagos, where the demand for scrap metal and other recyclable materials continues to fuel criminal activities that threaten public safety and undermine development efforts.

VIDEO: Lagos Bridge Vandalism: 27 Arrested as Scavengers Strip Pillars of Iron Bars

ISWAP Overruns Rival JAS Enclave In Borno Following ₦40m Cash Theft

Fighters of the Islamic State West Africa Province (ISWAP) have reportedly overrun a major stronghold belonging to the rival Jama’atu Ahlis Sunna Lidda’awati wal-Jihad (JAS) , commonly known as Boko Haram, in Gazwa, Bama Local Government Area of Borno State . The fierce confrontation, which has intensified the long-standing rivalry between the two extremist groups, was reportedly triggered by the alleged theft of approximately ₦40 million from ISWAP logisticians operating along the Gazwa-Kwaltafarji axis . The details of this latest escalation emerged from the debriefing of recently surrendered JAS fighters, who provided intelligence on the intense competition and hostility between the factions . According to these sources, a JAS commander identified as Munzir orchestrated an ambush on ISWAP operatives transporting cash and supplies, and the attack resulted in the death of one ISWAP operative, while the JAS fighters reportedly seized an AK-pattern rifle along with the substantial sum of money, which they successfully escaped with .

The stolen funds were subsequently handed over to a senior JAS commander based in Gazwa, known as Baafu, and sources indicate that Baafu transferred the money to another high-ranking commander, Ali Ngulde, who is believed to be operating from the Mandara Mountains region . From there, the funds were distributed among the JAS commanders and fighters according to the group’s standard revenue-sharing arrangement, and military intelligence reportedly indicated that ISWAP viewed the incident as more than a robbery, considering it a direct challenge to its authority and a threat to its critical logistics network in the region . Approximately ten days after the initial ambush, ISWAP mobilised a significant force from their strongholds in Yuwe, the Sambisa Forest, and Zangeri, and in a coordinated dawn assault, they launched a fierce attack on JAS positions within the Gazwa enclave . The battle raged for several hours, with JAS fighters putting up initial resistance, but the arrival of ISWAP reinforcements from the Sambisa Forest ultimately overwhelmed the defenders, forcing the JAS fighters to abandon one of their key positions in the Bama axis . The successful overrunning of the camp allowed ISWAP to establish temporary control over the Gazwa camp, though intelligence sources note that ISWAP remains cautious and could withdraw if the displaced JAS faction mounts a major retaliatory offensive .

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This latest confrontation is part of a broader series of intense clashes between ISWAP and JAS, as the rival factions compete fiercely for territorial control, valuable resources, and influence across the North-East region . The internal discord appears to be escalating, as evidenced by an earlier attack days prior, where ISWAP fighters reportedly ambushed a JAS faction around Bula Murge in the Gargash area, also in Bama Local Government Area, and that attack reportedly resulted in the deaths of several senior JAS commanders, including Abu Ubaida, Modu Kori, Alhaji Modu, Mure, Zarkawi, Sheriff, and Modu Maye . The clash also led to the destruction of JAS camps at Bula Murge and Nguro Bafuye, forcing surviving fighters to relocate their families towards Bula Daloye . The rivalry between the two factions dates back to 2016, when ISWAP broke away from the Abubakar Shekau-led Boko Haram movement over ideological and leadership disagreements, and since then, both groups have engaged in repeated battles over territorial control, taxation routes, recruitment of fighters, and strategic hideouts across the Lake Chad Basin and the Sambisa Forest . The rivalry intensified in May 2021 when ISWAP launched a major offensive that cornered Shekau, who reportedly died after detonating an explosive device rather than surrendering .

Military sources cited in the reports suggest that this ongoing rivalry could further expose weaknesses within the ranks of both groups, creating potential opportunities for security forces to disrupt their operations . The renewed infighting comes amid sustained military operations and airstrikes against insurgent groups in the North-East, which have reportedly weakened their logistics, operational capabilities and freedom of movement . Security sources said the rivalry presents an opportunity for the military to intensify coordinated land and air operations aimed at preventing either faction from regrouping or consolidating new positions in the Sambisa Forest and Mandara Mountains . Intelligence gathering is reportedly continuing to track the movements of both factions and prevent either group from regrouping or establishing new operational bases . The situation remains dynamic, with both factions seeking to consolidate their positions and recover from their recent losses as security forces continue to monitor developments across the North-East .

ISWAP Overruns Rival JAS Enclave In Borno Following ₦40m Cash Theft