Ajaokuta Steel: Arewa group demands thorough probe

The Arewa Youth Council, on Friday, demanded a thorough probe of the moribund Abeokuta Steel Company. The council made the demand in a statement on Friday by its president, Balarabe Rufai. They said their stand was in view of the endless setbacks the Ajaokuta Steel Company had faced despite efforts by past administrations to revive […]

The Arewa Youth Council, on Friday, demanded a thorough probe of the moribund Abeokuta Steel Company.

The council made the demand in a statement on Friday by its president, Balarabe Rufai.

They said their stand was in view of the endless setbacks the Ajaokuta Steel Company had faced despite efforts by past administrations to revive the national asset.

The statement said: We, the patriotic citizens of the Federal Republic of Nigeria from the Arewa Youth Council, hereby call on the Federal Government of Nigeria and the Economic and Financial Crimes Commission (EFCC) to investigate the long history of corrupt practices, financial mismanagement, and lack of accountability at the Ajaokuta Steel Company in Kogi State.

“The Ajaokuta Steel Company is a critical national asset that was established in the 1970s to drive industrialization and economic development in Nigeria. However, over the decades, this project has been plagued by massive corruption, misappropriation of funds, and failure to complete construction and operationalize the plant.”

The Arewa Youth Council resolved 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.

“The Federal Government should ignore the international arbitration on Ajaokuta Steel Company and order for the arrest of the owner of the Global Steel Holdings Ltd for a contract scam that led to that arbitration

“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.”