The incident is said to have taken on Wednesday while the first team were away in Telford. According to reports in today's press, an argument erupted in the canteen between the two players and McCammon, who is several inches taller than the youngster, is alleged to have pushed his team-mate to the floor.
An outraged Ashikodi apparently then made a dash into the kitchen area and returned with a knife and threatened McCammon before he was overpowered by his team-mates and stunned members of staff.
Ashikodi, who last season made history by becoming Millwall's youngest ever player, has since been suspended and placed on the transfer list.
Chairman Theo Paphitis has pledged a full inquiry into what he labelled "a very serious matter."
"I can confirm there was a very serious incident between two of our players," he added. "Because of the nature of the incident were are conducting a thorough investigation."