Direct EFCC, ICPC to Probe Alleged Massive Corruption in Ajaokuta Steel Company, Arewa Group Tells Tinubu

Kasim Sumaina in Abuja 

The Arewa Youth Council (AYC) Friday urged President Bola Tinubu to immediately direct the anti-corruption agencies to probe activities surrounding the Ajaokuta steel company, which has been at 98 per cent completion since its inception more than 40 years ago.

The group also called on the president to ensure the proper completion and operationalisation of the steel company so that it can fulfill its potential as a driver of industrialisation and economic development in Nigeria.

Its President, Balarabe Rufai, while speaking in Abuja hinted that the Ajaokuta steel company was a critical national asset that was established in the 1970s to drive industrialisation and economic development in Nigeria. 

It, therefore, called on Tinubu to direct the Economic and Financial Crimes  Commission (EFCC), and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to work with relevant government agencies to investigate the long history of corrupt practices, financial mismanagement, and lack of accountability at the company.

Rufai said that over the decades, the project has been plagued by massive corruption, misappropriation of funds, and failure to complete construction and operationalise the plant. 

He said: “Allegations of job racketeering, kickbacks, inflated contracts, and diversion of funds meant for the Ajaokuta project over the years must be properly investigated and the culprits must be held accountable.

“Failure to complete and operationalise the plant despite the enormous sums of money invested in the Ajaokuta steel company and non-operational will deprive Nigeria of a critical industrial asset that could drive job creation and economic growth.

“We, as an Arewa Youth Council, resolve that the federal government should reinforce the Federal Executive Council’s decision during the administration of former President Umaru Yar’Adua that the EFCC should prosecute the consortium handling the Ajaokuta Steel Company.

“All the big sharks in the Federal Ministry of Steel Development, Federal Ministry of Justice, and the Ajaokuta Steel Company cooking the mischievous international consortia contract negotiations and agreements must be fished out and brought to justice 

“EFCC should conduct a comprehensive investigation into the corrupt practices, financial mismanagement, and lack of accountability that have plagued the Ajaokuta Steel Company project. 

“The findings of this investigation should be made public, and those found culpable should be prosecuted to the fullest extent of the law.

“Furthermore, we call on President Bola Ahmed Tinubu, GCFR, to direct the EFCC to work with relevant government agencies to probe the activities surrounding the Ajaokuta Steel Company and ensure the proper completion and operationalisation of the company, so that it can fulfill its potential as a driver of industrialisation and economic development in Nigeria.”