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CVFF DISBURSEMENT: Despite NIMASA’s Ultimatum, No Ship Owner Qualifies Now, says Engr Greg Ogbeifun

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Engr Greg Ogbeifun

 

 

 

 

By Izuchukwu Ozoemena 

 

 

 

 

As NIMASA gives banks 72 hours to release modalities for the disbursement of the beleaguered Cabotage Vessel Finance Fund (CVFF), Falcon Watch Online recalls a recent caution by Engr Greg Ogbeifun, prominent ship owner and pioneer President, Ship-owners Association of Nigeria (SOAN) that for now, no ship owner can comfortably say he has a contract and this is the rate or the value of the contract, and ‘if I get money to build a ship, this is the opportunity I have to pay back’. No one can say that.”

 

Engr Greg Ogbeifun stated this, Monday, while sharing his thoughts on the current discussions by various ship-owner groups regarding the disbursement of the fund.

 

He spoke at the sidelines of the 9th edition of the African Shippers’ Day event hosted in Lagos by the Nigerian Shippers’ Council in collaboration with the Union of African Shippers Councils.

 

Engr Ogbeifun who is also the Chairman, Starzs Marine & Engineering Co Ltd and member, 2017 Ministerial Interim Management Committee that restructured and repositioned the Maritime Academy of Nigeria, Oron, was emphatic that for now, no ship owner is eligible to benefit from the CVFF if ever it is going to be disbursed.

 

Part of the requirements prescribed by the 2003 Cabotage Act, he told our correspondent, is that the ship owner working to qualify to draw from the Fund must have an existing contract and a viable credit history to convince all and sundry that he has capacity for repayment.

 

“No indigenous ship owner has valid contracts or is eligible for the fund, as many of them have gone bankrupt,” he disclosed.

 

On the talk of equity being canvased by various shipowner groups, he said that anyone talking about 15% equity to be provided by ship owners before accessing the fund is ignorant.

 

For now,  there is no guideline in place as required by law, taking cognizance of the Treasury Single Account (TSA) policy of the Federal Government.

 

Ogbeifun said the current guideline on CVFF disbursement came into being during the tenure of Alhaji Idris Umar as Minister of Transportation. But as it stands now, the Federal Government’s Treasury Single Account regime makes it irrelevant.

 

Unless the Cabotage Act undergoes amendment in line with the requirements of the TSA regime and the Minister comes up with fresh guidelines for disbursement as per the Cabotage Act, anybody talking about disbursement will be breaking the law, Ogbeifun stated.

 

“I tell people that no company or ship owner is eligible to benefit from the CVFF.

 

“Starzs is not eligible too. This is because when I had a contract, and couldn’t get the money, a commercial bank funded the project and paid for the ship. The ship is working and I paid my rent. I don’t have a contract. It is like I want to go and borrow money to borrow a ship and almost all of us are in that situation.

 

“The new government came into place and says all monies of the commercial banks be moved to the TSA at the Central Bank of Nigeria (CBN). The ship owners are saying ‘our money is our private money and should not be in the TSA’.

 

“But it is there already. So, the government decided to lock it. Right now, no primary lending institution (PLI) or all those commercial banks they say they are nominating have the Cabotage fund with them to tell the government that they can now support and go by the terms of the government. So, if any bank is saying it is a PLI, it means they don’t understand what they’re getting into.

 

“Right now, there is no guideline in place as required by law by the current Minister taking cognizance of TSA. So now we have TSA, then how do we go about it? Anybody running around will be breaking the law, including the Minister. And those who are arguing to take the money and they don’t have contracts, how are they going to go about it?

 

“Maybe we should get to talk to ourselves and the only way forward is for the Honorable Minister to take the Act and understand what the Act says and form a small committee, bringing in banks, ship owners and industry players taking cognizance of the current situation and bringing up a guideline and changing the Act through the National Assembly. The conditions can be taken off and verified. Otherwise, government is going to take the money or they simply don’t know what they are doing”, Engr Ogbeifun said.

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Maritime Agencies

Operation Whirlwind’ Auctions 22,175 Litres of PMS, Deepens Fight Against Petroleum Products Smuggling, ‎

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‎By Izuchukwu Ozoemena
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‎The Nigeria Customs Service (NCS) has, once again, reiterated the importance of her interventionist outfit, ‘Operation Whirlwind’, established to discourage the smuggling of petroleum products in any form to the disadvantage of the national economy and the well-being of Nigerians.
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‎National Coordinator of ‘Operation Whirlwind ‘ Unit, Deputy Comptroller A.L.Aliyu stated this in Lagos, Monday, while auctioning 22,175 litres of Premium Motor Spirit (PMS) seized from smugglers along the Lagos–Ogun border corridors.
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‎“Operation Whirlwind’ is a targeted initiative to curb diversion and cross-border smuggling of petroleum products, safeguard Nigeria’s economic interests, and strengthen national energy security,” he explained.
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‎The seizures, DC Aliyu announced, comprised 887 jerrycans of 25 litres each, including five vehicles used in conveying them with a total Duty Paid Value of ₦32,175,000.
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‎He explained that the interceptions were made in recent weeks across notorious smuggling routes including Imeko, Ilara, Ilaro, Idiroko, and Seme-Badagry. The operations were driven by credible intelligence that disrupted a coordinated network attempting to move PMS illegally into neighbouring countries.
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‎While calling on members of the public participating in the auction process to strictly adhere to the guidelines, D.C. Aliyu reminded all and sundry that the Nigeria Customs Service is ever committed to transparency, accountability and lawful management of seized products including PMS.
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‎He commended the Comptroller -General of Customs Dr Adewale Adeniyi for strategic leadership, the Office of the National Security Adviser (ONSA) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for collaboration. He also gave kudos to  officers of ‘Operation Whirlwind’ for being diligent and professional in the discharge of their duties.
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‎DC Aliyu issued a stern warning to those still engaged in smuggling and diversion of petroleum products.
‎”Let this exercise serve as a clear warning. ‘Operation Whirlwind’ remains resolute, relentless, and intelligence-driven. We will continue to dismantle smuggling networks and bring perpetrators to justice.”
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‎He called on the border communities to support Customs and other security agencies by availing them timely information as the fight against smuggling cannot be undertaken without a collective effort.
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‎’Operation Whirlwind’, he emphasized, will continue to strengthen surveillance, intelligence gathering, inter-agency collaboration, and enforcement to safeguard petroleum resources, protect the economy and reinforce energy security.
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Maritime Agencies

NIGERIA @ 66: AMBO Media Front Pinpoints Signs of a Prosperous Future .

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‎By Izuchukwu Ozoemena
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‎As Nigeria marks its 66th Independence Anniversary, Asiwaju Bola Oyebamiji ( Ambo) media organisation says the Federal Government’s reform interventions across the states provide concrete signs that the nation’s journey towards prosperity, though challenging, is on course.
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‎In Osun State, the impact of these reforms is tangible. Through institutions such as the Tertiary Education Trust Fund (TETFund) and the Universal Basic Education Commission (UBEC), the Federal Government has supported public universities, polytechnics, colleges of education and basic education infrastructure with interventions valued at over ₦12 billion since 2023.
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‎Similarly, the Nigerian Education Loan Fund (NELFUND) student loan scheme has expanded access to financial support for over 50,000 students in tertiary institutions in the state, including students in the 11 technical colleges owned by the state government. These interventions demonstrate that the Federal Government’s education reforms are not limited to Abuja, but are reaching institutions and students across the federation.
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‎In the housing sector, the Ambo media team which coordinates all media activities of Asiwaju Bola Oyebamiji who was the APC 2026 governorship candidate in osun state, noted that Federal Ministry of Housing and Urban Development has completed and handed over *24 housing units* constructed under the National Housing Programme to the University of Ilesa. The intervention is part of the President Bola Ahmed Tinubu-led administration’s effort to improve staff welfare and strengthen institutional development.
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‎The Federal Housing Authority is also making frantic efforts to ensure that the people of Osun benefit adequately from the Federal Government’s plan to provide *154,800 housing units* to Nigerian citizens nationwide.
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‎”This year’s October 1 celebration, therefore, is not being marked in a vacuum. It provides an opportunity to reflect on the challenges of the past 66 years, acknowledge the difficulties confronting citizens today, and equally recognise tangible interventions being undertaken by the Federal Government across Nigeria and, specifically, in Osun State,” the Asiwaju Bola Oyebamiji Media Front added.
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‎According to AMBO Media Fronts, the journey to national prosperity is never without challenges. What matters is the ability of leadership to remain focused, make difficult decisions, correct mistakes where necessary, and ensure that the gains of reform ultimately translate into better lives for the people.
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‎The Ambo Media group therefore calls on Osun State indigenes and Nigerians all over the world to remain hopeful and committed to the Nigerian project.
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‎”We believe that with sustained reforms, prudent management of resources, greater accountability and continued investments in infrastructure, education, healthcare, agriculture, industry and human capital, Nigeria can realise its enormous potential,” the Ambo Media Front further stated.
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‎” We stand with our principal , and APC governorship candidate 2026 in Osun State, Asiwaju  Munirudeen Bola Oyebamiji ( Ambo) as we pray and rejoice with the good people of Osun State and Nigerians all over the world on this auspicious occasion of Nigeria 66th independence Anniversary . May God bless and keep Nigeria”
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Maritime Agencies

CHANGE OF BATON AT OGUN 1 CUSTOMS: A.A.Ibrahim Succeeds O.O.Afeni, Pledges Intelligence-Driven Enforcement.

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O.O.Afeni (right) handing over to A.A. Ibrahim.

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‎By Izuchukwu Ozoemena
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‎The new Customs Area Controller (CAC), Ogun 1 Customs Command, Deputy Comptroller A.A.Ibrhaim says strict adherence to professionalism, integrity, discipline and ethical conduct in accordance with the Nigeria Customs Service Act, 2023 would be his watchword.

‎D.C.Ibrahim made the pledge at Idiroko, Ogun State, Wednesday, while taking over the mantle of leadership from Deputy Comptroller O.O.Afeni.
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‎Describing Afeni’s record as a legacy worthy of emulation, Ibrahim commended him for landmark strides in anti-smuggling, revenue generation and stakeholder collaboration.
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‎Ogun I Command, he stated, is a unique and demanding operational environment characterised by extensive borders and vibrant economic activities.
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‎He promised that his administration would deepen the gains already achieved in  community relations, operational efficiency, intelligence-led enforcement, corporate social responsibility, trade facilitation and stakeholder collaboration.
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‎Emphasizing the essence of teamwork and adherence to ethical standards, he urged officers and men of the Command to remain disciplined and professional in order to achieve the Command’s objectives.
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‎He told traditional rulers, stakeholders and operators in the border corridor that he was out to maintain an open-door policy aimed at promoting peaceful coexistence and legitimate economic activities, even as he
‎warned smugglers and economic saboteurs that the area has no place for them.
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‎“Under my leadership, the Command will not tolerate acts of economic sabotage. We shall employ all lawful and legitimate means at our disposal to combat smuggling, protect government revenue and ensure compliance with extant trade laws. Our approach will be firm, fair, professional and intelligence-driven,” Ibrahim pledged.
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‎Describing the Command as strategic, Ibrahim called for support and prayers from all and sundry.
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‎In his valedictory speech earlier,  Deputy Comptroller Afeni informed that the Command strengthened operational collaboration with sister security agencies including the DSS, Nigerian Army, Nigeria Police Force, Nigeria Immigration Service, National Drug Law Enforcement Agency and others to combat cross-border crimes.
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‎He said the Command also sustained engagement with traditional rulers, youth leaders and border community associations to build trust and minimise hostility during enforcement operations.
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‎On revenue generation, export and anti-smuggling, he said the Command took difficult but necessary decisions to meet the targets set by the Comptroller-General of Customs, Dr Bashir Adewale Adeniyi.
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‎Afeni disclosed that the Command had a target of ₦545,348,440.12 for the period he was in charge but generated ₦896,539,138 between January and August 2026, thus exceeding the ceiling by ₦350,713,920.82.
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‎He attributed the performance to the dedication, transparency and resilience of officers and men of the Command.
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‎The Command also recorded 31,177 metric tonnes of exports with a Free on Board (FOB) value of ₦4,644,740,110.09 during the period.
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‎Afeni said the figure represented a significant improvement from the corresponding period in 2025, when the Command recorded no export trade.
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‎On anti-smuggling operations, he said the Command recorded 327 seizures between December 4, 2025 and September 29, 2026, with a combined Duty Paid Value (DPV) of ₦14,750,394,251.92.
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‎The seizures included 32,449 parcels of Cannabis Sativa, including Colorado and Ghana Loud; 50 sacks of raw cannabis; 19,525 litres of Premium Motor Spirit (PMS); 8,787 cartons of spaghetti; 11,578 bags of foreign parboiled rice, equivalent to 12 truckloads; 6,453 kegs of vegetable oil; six live pangolins; 2,128 live cartridges; 1,315 Riodin explosives; two revolver pistols; 11 Dane guns; two locally made pistols; five complete sets of camouflage uniforms; 32 camouflage inner wears; 32 camouflage tops; 197 camouflage trousers; and seven foreign-used vehicles, including a 2026 Range Rover P530 Autobiography.
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‎The Command’s collaboration with sister agencies, he announced, also resulted in the handing-over of seized illicit drugs to the NDLEA Idiroko Special Command, while confiscated arms and ammunition were transferred to the National Centre for the Control of Small Arms and Light Weapons (NCCSALW) for necessary action.
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‎The Command’s corporate social responsibility and environmental initiatives executed during his tenure included the sponsorship of the AFENI Cup inter-school football tournament at Iko Gateway Grammar School in July 2026, aimed at promoting discipline and discouraging youth involvement in smuggling.
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‎He also disclosed that the Command emerged as champion in volleyball at the inter-command athletic competitions held in August and September 2026.
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‎As part of its environmental initiatives, the Command launched a Green Border and Environmental Sustainability afforestation programme, during which hundreds of trees were planted along critical border corridors.
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‎Two major infrastructure projects executed under the Comptroller-General’s corporate social responsibility initiative had been completed and would soon be commissioned, Afeni disclosed. These include the complete renovation of Igiri High School, Ijofin in Ipokia Local Government Area covering classroom blocks, the principal’s office and sanitary facilities, as well as a newly constructed jetty at Ijofin to support riverine transportation and local trade.
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‎Afeni attributed the achievements recorded during his tenure to the cooperation of traditional rulers, religious leaders, youths and host communities.
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‎He thanked the Comptroller-General, NCS management, officers and men of the Command and other stakeholders for their support.
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‎Present at the occasion were the Acting Area Controller, PTML Command, Deputy Comptroller Nura Miko; senior Customs officers from various units within Zone A; heads of sister security agencies; freight forwarders; traditional rulers and community leaders. Representatives from the Republic of Benin and other stakeholders also attended.
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