M’Belt Forum asks EFCC to probe Ajaokuta Steel Company

The Middle Belt Youth Council has urged the Economic and Financial Crimes Commission (EFCC) to investigate the alleged financial mismanagement of the moribund Ajaokuta Steel Company in Kogi State. 
   
The council maintained that despite being a critical national asset that was established in the 1970s to drive industrialisation, the project has been plagued by massive corruption and misappropriation of funds. 
   
National youth leader of the forum, Emmanuel Zopmal, in a statement on Monday, expressed concern that the project has seen numerous contract renegotiations over the year with little to show for the investments.
 
“There has been a severe lack of transparency in the management of funds and contracts related to Ajaokuta. Repeated attempts to uncover the details of spending and contracts have been met with stonewalling and obfuscation.
 
“There have also been widespread allegations of job racketeering, kickbacks, inflated contracts, and diversion of funds meant for the Ajaokuta project over the years. However, these allegations have not been properly investigated, and the culprits have not been held accountable”, he stated. 
   
Zopmal observed that despite the enormous sums of money invested, the Ajaokuta Steel Company remains incomplete and non-operational, depriving Nigeria of a critical industrial asset that could drive job creation and economic growth.