The National Association of Nigerian Students (NANS) has called on President Bola Ahmed Tinubu to immediately remove the Executive Chairman of the Nigeria Revenue Service (NRS), Dr Zacch Adedeji, from office and order a comprehensive investigation into an alleged $279 million transfer from the Frontier Exploration Fund.
The students’ body also issued a 72-hour ultimatum to the Federal Government, warning that failure to act on its demands would trigger nationwide protests across the 36 states and the Federal Capital Territory.
NANS made its position known on Saturday through its Forum of Zonal Coordinators covering Zones A to F in a statement issued on behalf of the coordinators.
The organisation alleged that the $279 million was moved from the Frontier Exploration Fund account without the approvals and statutory authorisations required under the Petroleum Industry Act (PIA) 2021.
NANS described the alleged transaction as a matter of grave national concern, particularly amid persistent funding challenges confronting Nigeria’s tertiary institutions and students.
“At a time when Nigerian tertiary institutions are struggling with dilapidated infrastructure, and millions of brilliant students depend heavily on the survival of funding initiatives like the Student Loan Scheme, the unapproved movement of public wealth into unknown hands is a direct declaration of economic warfare on the future of Nigerian youth,” the students said.
The association further linked the controversy to what it described as previous concerns over Adedeji’s alleged relationship with legislative oversight.
NANS cited the NRS chairman’s alleged failure to honour invitations from the National Assembly, including an invitation by the House of Representatives Committee on Federal Character over alleged irregularities concerning recruitment and nominal roll issues.
The students argued that the latest allegations, if established, require immediate intervention by the Federal Government and relevant anti-corruption agencies.
“Dr Adedeji’s tenure has already been stained by institutional arrogance, characterised by his continuous evasion and defiance of legislative invitations,” NANS alleged.
It added that a public official facing such allegations should not remain in charge of the country’s apex revenue-collection institution while investigations are pending.
NANS’ Three Major Demands
NANS outlined three major demands, including the immediate removal of Adedeji from office, a forensic investigation into the alleged $279 million transaction and a joint investigation by the National Assembly.
The association specifically called on President Tinubu to exercise his constitutional powers by relieving the NRS chairman of his duties pending the outcome of investigations.
“We call upon President Bola Ahmed Tinubu to exercise his executive powers and immediately sack Dr Zacch Adedeji from his position as Executive Chairman of the NRS,” the statement said.
NANS also urged the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the alleged transaction.
According to the students, the investigation should establish how the funds were moved, who authorised the transaction, where the money was transferred to and the identities of all individuals or entities that may have benefited from it.
“We demand that the EFCC and ICPC immediately conduct a thorough forensic investigation into Dr Adedeji and all those involved in the unauthorised $279 million Frontier Exploration Fund transfer,” NANS said.
The students also called on the National Assembly to constitute a joint committee to investigate the Frontier Exploration Fund account.
They demanded that the proceedings be conducted transparently and broadcast live so Nigerians can follow the investigation.
“We urge the National Assembly to initiate an open, live-broadcasted joint committee probe into the Frontier Exploration Fund account to trace every dime of the transferred $279 million and identify its final beneficiaries,” the organisation said.
72-Hour Ultimatum, Nationwide Protest Threat
NANS said the Federal Government has 72 hours from the date of its statement to take decisive action on its demands.
The association warned that failure to meet the demands would lead to the mobilisation of its structures across the country.
It threatened to stage nationwide protests, including picketing the NRS headquarters in Abuja and disrupting activities at regional tax offices.
“If this ultimatum expires without a decisive executive action, NANS will have no option but to activate its structures across all 36 states and the Federal Capital Territory,” the students warned.
“We will hit the streets in a mother-of-all-protests, picketing the NRS headquarters in Abuja and shutting down regional tax offices nationwide.”
NANS maintained that its position was motivated by concerns over accountability, transparency and the protection of public resources.
“The wealth of Nigeria belongs to Nigerians, and the future of Nigerian students will not be bartered for administrative impunity,” the organisation declared.
The association urged the Federal Government, National Assembly and anti-corruption agencies to urgently address the allegations and ensure that the management of public funds remains subject to due process, transparency and accountability.