News
KAM Holdings to FG: Don’t hand over Ajaokuta Steel Complex to foreigners
By Steve Oni, Ilorin
The Chairman, Basic Metal, Fabricated Iron and Steel Products, a.k.a KAM Holdings, Dr. Kamoru Yusuf, has lamented that the Ajaokuta Steel Complex, which is supposed to be a treasure that generations to come should benefit from. has been in comatose for several years.
Yusuf, who spoke at the meeting of stakeholders in the Iron and Steel Sector on Thursday in Ilorin, the Kwara state capital, admonished the federal government not to hand over the assets to foreign investor(s). Rather, he said, it should be allowed to be managed 100 percent by a competent indigenous investor who has demonstrated capability with evidence of success stories in existing Steel Plants and Wire Processing Factories in the country.
He said: “With this. government can and may own 40 percent, while the investor will own 60 percent. This will, no doubt, enhance easy, sustainable, and rewarding business fortunes for the nation. Every phase and process of the investment must be given cognizance attention and priority.
“As a matter of fact, Nigeria needs to pride herself as the giant of Africa by making judicious use of her highly talented, patriotic and committed indigenous investors with adequate recognition of the stakes of the government. If randomly sampled, the position of the general public is that Ajaokuta Steel Plant should work again in the hands of a local investor(s).”
As a way forward, KAM Holdings Chief Executive Officer, urged the Federal Government to take counsel from existing players in the Steel Industry with wide experience in the field, adding that the FG should adopt the model used by the Republic of China “wherein they indigenised their iron and steel industries, where Government held only marginal interest and the majority interests were committed into the hands of indigenous investors, which later transformed the country’s Steel industry within 25 years and led to massive development of the industrial sector in China.”
He said: “If indigenous steel investors are given the chance to resuscitate the Ajaokuta Steel Complez, we are assured that the capital and proceeds would remain here and will be re-invested into our economy.
“Adopting the model of the developed nations of the world to periodically review and monitor the progress and challenges confronting the iron and steel sector and consequently mandate financial institutions to provide. adequate support to the industry is germane.
“Investment in the Iron and Steel business is capital-intensive with huge risks, FG should take a cue from its developed counterparts by allowing Credit Insurance Underwriters to operate in Nigeria.”
In his remarks, Director, Industrial Development, Federal Ministry of Industry, Trade and Investment, Adewale Bakare, noted that the iron and steel sector is a critical segment of most industrialized economies of the world, saying Nigeria hopes to leverage on the sector to attain the desired objective of an industrialized economy.
However, he said present realities show that the iron and steel industry has not achieved the desired development as the various sub-sectors under the iron and steel industry, which he lamented has remained at the levels of infancy or non-existent, living the country to depend largely on importation of iron and steel products.
Bakare said the stakeholders’ meeting was necessitated by the ongoing efforts of the Federal Ministry of Industry, Trade and Investment at repositioning the iron and steel sector through the development of workable policies and strategies for the growth and development of the sector.
News
The Most Shocking A/Court ‘Judgment’ in Nigerian History: An unfortunate precedent that should not be allowed to stand
The last is yet to be heard of wide ranging ex-parte orders as this time around, the charade has moved to the Court of Appeal, Lagos Division. In the case of FBN Quest & Another vs. Nestoil & Others, the Court of Appeal’s ex parte orders are not only egregious but a chilling sign of judicial capture, smacking of dirty practices at best and corruption at worst.
On Thursday, 27th November 2025, at exactly 2:00pm, Justice Yargata Nimpar delivered a ‘ruling ’ that appeared like a thief in the night, a ghost and unscheduled, the said decision came upon a Motion Ex-parte which was not heard not argued in open court, yet it surfaced, fully written, signed, stamped, and delivered as though it had lived a full life on the Court of Appeal docket.
For many Nigerians, the judiciary has again weathered the storms. Veterans of the legal system describe this episode as “a daylight heist… a judicial armed robbery without guns.”
The controversies over wide ranging ex-parte applications, it would seem, has found its way to the Court of appeal, an intermediate court with limited original jurisdiction as donated to it by statute.
In this instance, barely two weeks ago, we reported the ex-parte orders against NESTOIL and the other defendants listed in the suit before the Federal High Court which led to the transfer of the suit to another judge.
The said interim orders were vacated by effluxion of time, being that ex-parte orders last for only 14 days.
The court however ordered parties to maintain status quo and adjourned the Motion on Notice for hearing by the consent of the parties. That Motion is still pending before the Federal High Court.
It would seem that in order to frustrate that pending Motion, the Plaintiffs somehow filed a similar application to the Court of Appeal which was granted an order ex-parte directing the Lower Court not to take any further steps, including determining the pending application filed by Plaintiffs (now Appellants).
This magically resurrected, fast-tracked application seem to have been rubber-stamped at the fictional “Appeal Bench of Shadows,” as insiders have begun calling it.
A CASE THAT NEVER EXISTED — YET RECEIVED A JUDGMENT
Our Judiciary correspondent gathered that when the court’s official list for the day was released, nothing seemed amiss. No controversial cases. No unexpected hearings.
But somewhere inside the dusty chambers of bureaucracy, a secret file was already being prepared and by 2pm, a judgment carrying the signatures of an entire appeal panel had surfaced — even though none of them had appeared in open court and when the case itself had never been argued before any High Court, making an appellate ruling legally impossible.
By evening, whispers had turned into rumblings. Court workers who handled the mysterious document reported unusual instructions: No public sitting; No mention on the court list; No access to case filings; No digital record and No audio recording of proceedings. Yet an order was made retrospectively to undo a completed act! which is yet another impossibility in law, because the exparte order cannot restore what has been already executed.
“It was like dealing with a ghost file,” one clerk said. “It appeared from nowhere and disappeared into official archives as though it had always existed.”
This judgment, once delivered, spread like wildfire, with legal scholars calling it “a constitutional impossibility.” Veterans said they had never seen anything similar since the 1970s.
Enquiries from our judiciary correspondents indicate that an application can only be hinged upon a valid Notice of Appeal against a decision of a lower court before any application can be entertained at the Court of Appeal.
Further Investigations by our judiciary correspondent reveals that no such Notice of Appeal has been filed nor served on the respondents; no parties have been invited to Settle Records and no Records of Appeal have been transmitted.
One wonders the platform or upon which grounds the ex-parte order was made, observed one senior lawyer, especially as a similar pending application filed by the Appellants has been adjourned for Hearing by the Federal High Court.
Furthermore, the case at the trial court before Justice Osiagor has not been heard on its merits, which documents was placed before the appellate court and all applications before the judge has not been heard or is the court of appeal now a trial court.
A JUDICIARY AT A CROSSROADS
Public outrage rose quickly. Lawyers described the situation as “a hijacking of justice by shadowy interests.” Civil society groups demanded explanations.
A Judiciary where justice can be manufactured behind closed doors…a legal system where influence not merit, decides outcomes…and an institution tested by the weight of powerful external forces, et cetera should not be allowed to thrive.
AN ERA-DEFINING SCANDAL
This judgement will stand as one of the most dramatic challenges ever faced by Nigeria’s justice system. The shockwaves has rippled far beyond the courtroom — touching politics, business, security agencies, and public trust.
One thing is clear: This is the kind of judicial earthquake that rewrites history, shakes institutions, and forces a nation to confront the truths it fears the most. Our judicial correspondences were able to get an incline of the ex-parte orders made by the Court of Appeal as follows:
- AN ORDER of interim restorative injunction reversing all steps taken by the Respondents and/or persons purporting to act on the instructions of the Respondents and which steps or actions were taken pursuant to the order of the Federal High Court coram Osiagor, J made on the 20th day of November 2025 pending the hearing and determination of the Appellants’ Motion on Notice filed on the 26th day of November 2025.
- AN ORDER of interim injunction restraining the Respondents, their agents, servants, affiliates, and privies from interfering with and interrupting the Receiver/Manager in the performance of his duties pending the hearing and determination of the Appellants’ Motion on Notice filed on 26th November 2025.
- AN ORDER staying further proceedings at the lower court pending the hearing and determination of the Appellants’ Motion on Notice filed on the 26th November 2025.
A SHOCKING DEPARTURE FROM JUDICIAL NORMS
Therefore, the Lagos Court of Appeal’s decision to grant ex parte orders in FBN Quest & Another vs. Nestoil & Others stunned the legal community as ex-parte rulings are meant for rare emergencies and hardly exercised by appellate courts. By acting without hearing both sides, while the matter was already before the Federal High Court, the Court of Appeal has undermined the principle of natural justice and distorted its own role.
NIGERIAN IMAGE AT RISK
At a time when Nigeria is striving to reposition its global reputation, this case sends the wrong message. It portrays the country as one where courts can be hijacked by private interests, where fairness is discarded, and where corruption lurks behind judicial robes. For investors and international partners, it reinforces damaging stereotypes of weak institutions and compromised justice.
AN URGENT CALL FOR INVESTIGATION
These orders are not just irregular — they are evidence of judicial capture. They must be investigated urgently. The Chief Justice of Nigeria, the National Judicial Council, the President of the Court of Appeal and the Nigerian Bar Association cannot remain silent. If appellate courts become arenas for ex-parte adventures, Nigeria’s justice system risks collapse under the weight of manipulation.
CLOSING NOTE
The Court of Appeal’s conduct in FBN Quest & Another vs. Nestoil & Others is more than a misstep, it is a warning sign of judicial capture. If Nigeria is serious about restoring its image and strengthening democracy, this case must be investigated, accountability enforced, and reforms implemented. Anything less would be an abdication of the judiciary’s sacred duty to uphold justice. We must not allow that to happen.
A very Senior lawyer emphasize that the exparte order of the court of appeal lagos division in Nestoil has the possibility of eroding administrative control of Heads of superior Court from assigning or re assigning matters within their respective courts. Furthermore both the President of the Court of Appeal and the Chief Justice of Nigeria may not have the authority to disband a panel and re- constitute another panel over any matter in their respective courts. This decision is a total anarchy to the judiciary and urgent steps must be taken to vacate the strange Court of appeal exparte order.
The conduct of the court of appeal justices is not excusable anywhere in the world and it’s indeed has brought the court of Appeal justices who constituted the panel to ridicule
News
Pius Akutah’s Alleged Fraud at Nigerian Shippers Council Uncovered
Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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News
Pius Akutah’s Alleged Fraud at Nigerian Shippers Council Uncovered
Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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