Ajaokuta Steel: Sole administrator resigns amid EFCC probe

October 16, 2024

Engr. Sumaila Abdul-Akaba, the Sole Administrator of Ajaokuta Steel Company Limited, has stepped down amid an ongoing probe by the Economic Financial Crime Commission (EFCC).

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Key Allegations Against Abdul-Akaba’s Leadership:

This development comes after a memo dated October 14, 2024, revealed his resignation.

Now, Engr. Kanwai Atungs Joseph, General Manager of Engineering Works, will oversee the company’s affairs until a new Sole Administrator is appointed.

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The EFCC probe was sparked by 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 meant for the company.

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.

With Abdul-Akaba’s resignation, the company may finally see some accountability and reforms.