Richard Elesho
Sole Administrator of the comatose Ajaokuta Steel Company Limited, Engr. Sumaila Abdul-Akaba has reportedly tendered his resignation from the company in the face of an ongoing probe by the Economic Financial Crime Commission, EFCC. An October 14, 2024, memo revealed his resignation.
General Manager of Engineering Works, Engr. Kanwai Atungs Joseph will oversee the company’s affairs until a new Sole Administrator is appointed.
EFCC began the probe following a petition from the Nigeria Ethnic Nationalities Youth Leaders Council, NENYLC, in September, alleging corrupt practices and mismanagement under Abdul-Akaba’s leadership.
The group cited widespread allegations of job racketeering, kickbacks, inflated contracts, and diversion of funds.
Critics have long argued that having a Sole Administrator for 12 years created an environment conducive to corruption, as there was no one to check the administrator’s excesses.
The National Association of Nigerian Students, NANS, also demanded a thorough investigation into the reported mismanagement, urging President Bola Tinubu to take action.
The Senate has similarly expressed concerns about the management structure at Ajaokuta Steel Complex, highlighting the need for a comprehensive probe.
The Steel Company held much hope for the country’s industrialization and development at conception in 1979. However, for the better part of about four decades, it has been jinxed, hovering on the borderline of hope and misery, and gone through several concessions in order to revitalize it