On October 14, 2024, Engr. Sumaila Abdul-Akaba announced his resignation from his position as the Sole Administrator of Ajaokuta Steel Company Limited. His departure comes in the wake of an ongoing investigation by the Economic and Financial Crimes Commission. The EFCC probe was initiated after a petition from the Nigeria Ethnic Nationalities Youth Leaders Council in September, which accused Abdul-Akaba of engaging in corrupt practices and mismanagement during his tenure.
The allegations against Abdul-Akaba are serious, involving claims of job racketeering, kickbacks, inflated contracts, and the diversion of funds intended for the company. The NENYLC’s petition highlighted a pattern of misconduct that has plagued the Ajaokuta Steel Complex, a facility vital to Nigeria’s industrial development. Critics of the current governance structure have argued that having a Sole Administrator for an extended period has created an environment ripe for corruption, as there was minimal oversight to monitor Abdul-Akaba's actions.
In the interim, Engr. Kanwai Atungs Joseph, who serves as the General Manager of Engineering Works, has been appointed to oversee the company's operations until a new Sole Administrator is named. This leadership change is anticipated to bring some level of accountability and transparency to the management of the company, which has long been criticized for its operational inefficiencies and financial mismanagement.
The National Association of Nigerian Students (NANS) has also expressed its concern regarding the reported mismanagement of Ajaokuta Steel, calling for a thorough investigation and urging President Bola Tinubu to take decisive action. Similarly, the Senate has raised alarms about the management structure at the Ajaokuta Steel Complex, emphasizing the need for a comprehensive inquiry into the allegations surrounding Abdul-Akaba's administration.
Among the key allegations facing Abdul-Akaba's leadership are claims of job racketeering, which suggest unfair employment practices that may have favored certain individuals over others. Additionally, accusations of kickbacks and bribery have surfaced, painting a troubling picture of corruption within the company. Inflated contracts, suspected of being overpriced, further exacerbate concerns about financial mismanagement, while allegations of fund diversion indicate a serious misuse of company resources.
The EFCC's investigation into Ajaokuta Steel reflects a broader commitment to tackling corruption within Nigeria's public sector. As the inquiry progresses, it will aim to uncover the extent of the alleged malfeasance and hold accountable those responsible for any wrongdoing. The outcome of this probe is expected to have significant implications for the future governance of Ajaokuta Steel and its potential role in Nigeria’s steel industry revival.
