Spread the loveBy Our ReporterThe Executive Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, has dismissed online reports linking the NRS to an imaginary fraud related to the Frontier Exploration Fund, calling it sponsored fake news. According to the report, the alleged fraud had put Adedeji under pressure with stakeholders calling for forensic audit of the Fund’s account. The NRS chairman said that the sponsors of the report exhibited lack of understanding on what the Frontier Fund was all about and how it is disbursed. He explained that the Frontier Exploration Fund was established under Section 9 of the Petroleum Industry Act, 2021 and was meant to finance petroleum exploration activities in frontier basins where commercially viable hydrocarbon reserves are yet to be fully established,The frontier basins include Bida, Benue Trough, Anambra, Chad, Sokoto and Dahomey Basins. The Fund is used for expenses in geological mapping, seismic surveys, exploratory drilling, appraisal wells, basin studies and other exploration activities.