Okonjo-Iweala connived with World Bank, IMF to write off Ajaokuta Steel COY-SEC

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The Secretary General of African Iron and Steel Development, Dr. Mohammed Sanusi has accused erstwhile Minister of Finance and Coordinating Minister of the Economy in the President GoodLuck Jonathan administration, Dr. Okonjo Iweala of conniving with the World Bank and the International Monetary Fund (IMF) to write a phoney audit report on the Ajaokuta Steel Company.

He said the report, which adjudged the company as lacking in prospects was to serve the interest of powerful nations, especially the West, who markets their iron and Steel in Nigeria and other African countries.

Speaking with REPORTERS in Abuja on Tuesday, the Scribe lamented that it was the fourth time international finance organisations would capitalize on corrupt tendencies of Nigeria government officials, who were always ready to compromise and write-off Ajaokuta Iron and Steel Company, despite its huge prospects of being Nigeria?s biggest revenue earnings and employer of labour.

?There was a lot of sabotage going on and I have four different report which were initiated by World Bank against Ajaokuta Steel Company?, Sanusi said.

He added: ?another group, which has links with World Bank and IMF were invited from Britain by Bureau of Public Enterprises; they came and condemned Ajaokuta, and when we the stakeholders pointed out their mistakes, they left and never came back to Nigeria up till date?.

Dr. Sanusi also recalled that he faulted the power point presentation of another group, which were brought in by the former Minister of Finance, Dr Okonjo Iweala known as ?Nigeria Infrastructure Advisory Facilities?.

?There is another one the former Minister of Finance, Dr. Okonjo Iweala brought in called Nigeria Infrastructure Advisory Facilities and after two weeks tour of our steel Facilities, they assembled some officials of the National Planning Commission, Ministry of Finance and Solid minerals and other stakeholders; before you knew it, they reported that their head team had travelled back to Canada?, he added.


Sanusi who admitted that the Minister of Solid Minerals, Dr. Kayode Fayemi was in touch with the Iron and Steel Association, commended President Buhari administration for his concerted effort at revamping the Ajaokuta Iron and Steel steel.

He advised Buhari to personally pay a visit to the steel industry for what he called a first hand information, noting that it would help his decision rather than waiting to be briefed.