Connect with us

Maritime Agencies

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

Published

on

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.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Maritime Agencies

ECTS: PTML Customs Mounts an Awareness Campaign

Published

on

By





‎By Izuchukwu Ozoemena





‎As part of the reform and modernisation agenda being  championed by the Comptroller-General of Customs, Dr. Bashir Adewale Adeniyi, to build a transparent, technology-driven and globally competitive 21st-century Customs Service, the Port & PTML Area Command of the Nigeria Customs Service (NCS) has commenced a sensitization programme for officers and key stakeholders ahead of the introduction of the Electronic Cargo Tracking System (ECTS).

‎The Acting Customs Area Controller, Deputy Comptroller Nura Miko, announced this in Lagos , Tuesday, during a stakeholders’ workshop held at the Command.
‎He announced that PTML Command
‎was selected as the second pilot command for the nationwide implementation of the ECTS following the  successful deployment of the initiative at the Apapa Area Command. He explained that the selection recognises PTML’s critical role in trade facilitation and national revenue generation.

‎Miko noted that the movement of cargo under transire to bonded terminals, other Customs commands, and Free Trade Zones has traditionally depended on physical escorts by Customs officers. However, increasing trade volumes have made the practice inefficient, resulting in operational delays and pressure on personnel.

‎He explained that the Electronic Cargo Tracking System will provide real-time GPS monitoring of cargo from its point of departure to its final destination, issue instant alerts in cases of route deviation or seal tampering, optimise manpower deployment, and strengthen revenue assurance through improved cargo monitoring.

‎The system is also expected to benefit stakeholders by speeding up cargo clearance, reducing demurrage costs, lowering the cost of doing business, and enhancing transparency through continuous Customs monitoring of consignments.

‎“This workshop is designed to familiarise stakeholders with the procedures, responsibilities, and expectations under the Electronic Cargo Tracking System,” Miko said. “I encourage everyone to support this initiative to ensure a smooth and successful implementation.”

‎The workshop brought together Customs officers, licensed customs agents, freight forwarders, terminal operators, and other private sector stakeholders.

‎Participants commended the Comptroller-General of Customs and the NCS management for advancing the digital transformation of Customs operations across the country.

Continue Reading

Maritime Agencies

AfCFTA: Nigeria, Cameroon, Benin To Establish Joint Customs Strategic Steering Committee on Beitbridge Communique.

Published

on

By






‎By Izuchukwu Ozoemena




‎Nigeria has described lessons from the Beitbridge and Chirundu Border Posts in Zimbabwe as a huge reinforcement and an illustration of the importance of coordinated institutional frameworks, digital integration and collaborative leadership in transforming Africa’s trade corridors.

‎Comptroller-General of Customs, Dr Bashir Adewale Adeniyi, MFR, stated this, Monday, during the adoption of the Joint Communique in Zimbabwe following a fact-finding mission.

‎He described the benchmarking mission to the Beitbridge Border Post between Zimbabwe and South Africa as a strategic opportunity for African customs administrations to move beyond discussions on border reform and embrace practical implementation of modern border management systems.

‎The mission which brought together  Nigeria ‘s Adewale Adeniyi alongside Mr Fongod Nuvaga, Director General of Cameroon Customs, Mr Raouf Aboudou, Director-General of Benin Customs, Mrs Lonto Ndlovu Acting Commissioner Customs and Excise in the Zimbabwe Revenue Authority (ZIMRA), as well as Alhaji Saleh Ahmadu, Chairman Bergmans Security Consultant and Supplies Limited was organised with the support of the African Export-Import Bank (Afreximbank) as part of ongoing efforts to deepen intra-African trade under the African Continental Free Trade Area (AfCFTA).


‎“Beitbridge has demonstrated that border modernisation is not merely about infrastructure development. The most important lesson for us is that sustainable reform depends on coordinated institutions, clear accountability, digital interoperability and professional human capital. We are leaving here with a renewed commitment to translate these lessons into practical solutions that will strengthen trade facilitation, security and economic growth across our region,” Adeniyi said.

‎The five-day mission featured technical sessions, facility tour and executive briefing by various border agencies in Zimbabwe. The benchmarking technical team comprising the Nigeria Customs Service (NCS), Cameroon Customs Administration, Benin Customs Administration, Bergmans Security Consultant and Supplies Limited and Bsmart Technologies.


‎The customs Chiefs were briefed on the Beitbridge Modernisation and Concession Model which included its financing structure, operational framework, revenue management systems and coordinated border governance architecture.

‎Participants also undertook extensive tours of the freight terminal, cargo processing facilities, scanning operations, traffic segmentation systems and integrated ICT infrastructure designed to support seamless border operations. The engagements provided participants with firsthand insights into how technology, institutional coordination and performance management have transformed one of Africa’s busiest border crossings into a model for efficient trade facilitation.

‎According to the Joint Communiqué signed by the participating customs administrations, the mission was conceived within the broader continental effort to facilitate trade across West Africa and between West and Central Africa. The document identified the Sèmè-Kraké corridor linking Nigeria and Benin Republic, as well as the Mfum-Ekok corridor connecting Nigeria and Cameroon, as strategic routes that stand to benefit significantly from the implementation of coordinated border management and One-Stop Border Post arrangements.

‎Also speaking during the ceremony, Director-General of the Cameroon Customs Administration, Fongod Nuvaga, emphasised the importance of collective action in improving trade corridors across the continent. He observed that customs administrations must work together to remove procedural bottlenecks that hinder legitimate trade while maintaining effective border controls. According to him, stronger regional cooperation will enable African countries to fully harness the opportunities created by the AfCFTA and accelerate economic integration across the continent.

‎Similarly, Director-General of the Benin Customs Administration, Colonel Raouf Malèhossou Aboudou, noted that the lessons from Beitbridge offer practical pathways for improving border efficiency within West Africa. He stressed that harmonised procedures, coordinated risk management systems and stronger institutional partnerships will be critical to achieving seamless trade movement across regional corridors. He added that sustained collaboration among neighbouring customs administrations remains essential for delivering measurable improvements in trade facilitation and revenue assurance.

‎Earlier, Director for Trade Facilitation and Investment Promotion at Afreximbank, Dr Gainmore Zanamwe, highlighted the significance of the benchmarking exercise as part of the Bank’s broader strategy to support trade-enabling infrastructure across Africa. He explained that the objective was not simply to showcase physical infrastructure but to expose participating administrations to the governance structures, operational models and institutional reforms that underpin the success of modern border posts. “Infrastructure is important, but what truly drives performance is an operating model built on accountability, coordination, technology and measurable service standards. Those are the lessons we hope will be replicated across strategic corridors on the continent,” he said.

‎The mission concluded with the signing of a Joint Communiqué committing Nigeria, Cameroon and Benin to establish a Trilateral Strategic Steering Committee to drive implementation of the recommendations arising from the visit. The three customs administrations also pledged to pursue harmonised procedures, digital interoperability, coordinated risk management systems and sustained investment in personnel development.

Continue Reading

Maritime Agencies

TRANSQuest MAGAZINE @ 21: With Huge Maritime Endowments, Stakeholders Warn, Nigeria Can’t be Poor, Government Must Realign Her Priorities.

Published

on

By






‎By Izuchukwu Ozoemena





‎Can a nation richly endowed with over 850 kilometers of coastal waters bordering the Atlantic Ocean and an indeterminate expanse of inland waterways and estuaries said to be economically poor? Of course the answer, industry watchers say, cannot be in the affirmative. But in the case of Nigeria, it is because her largely-endowed but poorly-exploited maritime potentials illustrates the paradox of someone surrounded by water using spittle to clean his face.

‎As events marking the 21st anniversary celebration of TransQuest Magazine unfolded in Lagos, Saturday, the inescapable reality was all over the venue as presentations and discussions tended towards this reality: Nigeria has no business being poor!

‎Stakeholders spanning across industry regulators, technocrats, customs, logistics gurus and the ever-bubbling press gathered to discuss and analyse Nigeria’s ‘predicament’ in the present circumstance.

‎In his lecture entitled “Re-Appraising Nigeria’s Blue Economy: Charting a Pathway to Sustainable Growth,” industry technocrat, Lucky Eyis Amiwero was his vintage self. Perhaps, he told the authorities the hard truth others dread to tell them regarding the massive neglect and misuse of opportunities mother nature has offered Nigeria through huge resources lying waste in her territory.

‎For a country battling unemployment, food insecurity, infrastructure deficits and the urgent need to diversify its economy, the implications are enormous, he said.  Whereas Nigeria possesses an extensive coastline, inland waterways, fisheries and offshore resources, he argued, much of the economic value embedded in these assets remains largely untapped.

‎By way of introduction, “Blue economy”, Amiwero explained, is a term in economics relating to exploitation, preservation and regeneration of the marine environment.

‎”This can include a wide range of economic sector from the conventional Fisheries, Aquaculture, Maritime Transport, coastal, Marine and Maritime Tourism, coastal Renewable Energy, marine Ecosystem service, blue Caborn, Seabed mining and Bioprospecting and Biotechnology.”

‎Recognising the immense potentials ocean and freshwater resources have for sustainable development, he continued, it has become necessary to protect and conserve oceans and fresh water systems such as rivers, lakes and extensive ocean resources to ensure they remain healthy and productive as one of the most important tenets of the Blue Economy.

‎”The Nigerian Blue Economy can constitute a major source of wealth and catapult the country’s fortune”.

‎Blue Economy components, he added, include established
‎traditional ocean industries such as fisheries, tourism and marine transport. Other emerging areas include offshore
‎renewable energy, aquaculture, seabed extractive activities, marine biotechnology and bioprospecting.

‎Additional growth of the Blue Economy is possible, especially in the area of Fisheries, Aquaculture, Coastal tourism, Marine biotechnology and ocean energy. According to him, some of these sector require little encouragement and additional governance while others need more and better planning
‎to achieve the full potentials and return of more sustainable outcomes.

‎But to what extent are authorities in Nigeria prepared to muster needed governance discipline, infrastructural investment and political will to take advantage of the opportunities offered to realize sustainable  economic development? That is the crux of the problem Nigeria must address to be a maritime nation worthy of the name.

‎Speaking earlier, Felix  Kumuyi, TransQuest Magazine Publisher, reflected on a 21-year journey built around credible journalism, facilitation and economic growth informed public discourse, progressive policy advocacy and the recognition of excellence across the transport and maritime value chain.

‎The annual lecture, he said, has now become an opportunity to examine what he referred to as critical questions concerning transportation, maritime development, trade facilitation and economic growth.

‎He reasoned that aside conventional port and shipping activities, Nigeria must give serious attention to the development of fisheries, aquaculture, marine tourism, inland waterways, coastal resources, marine biotechnology and renewable marine energy as these represent a vast economic frontier capable of generating employment, attracting investment and supporting national development.

‎Beyond the establishment of a Marine and Blue Economy Ministry, Nigeria needs a workable framework encompassing modern infrastructure, efficient ports, effective maritime security, environmental protection, investment-friendly regulation, digital transformation and a skilled indigenous workforce.














Continue Reading
Advertisement
Maritime Agencies10 hours ago

ECTS: PTML Customs Mounts an Awareness Campaign

Maritime Agencies15 hours ago

AfCFTA: Nigeria, Cameroon, Benin To Establish Joint Customs Strategic Steering Committee on Beitbridge Communique.

Maritime Agencies1 day ago

TRANSQuest MAGAZINE @ 21: With Huge Maritime Endowments, Stakeholders Warn, Nigeria Can’t be Poor, Government Must Realign Her Priorities.

Maritime Agencies2 days ago

CSR: Customs CG Hosts Apapa Students in Sports, Pledges Sponsorship for Outstanding Young Athletes. ‎

News2 days ago

Disaster Imminent in Apapa as Widening Cracks Overtake Liverpool-Marine Road Junction. ‎ ‎………. Stakeholders Send SOS to Government. ‎

Maritime Agencies1 week ago

Tochukwu Ezisi, NAGAFF President, Bags RATTAWU’s Logistics Excellence Award.

Maritime Agencies2 weeks ago

Oyetola Vows to Strengthen Local Capacity, Innovation, Responsible Investments As STARZS Celebrates 40th Anniversary.

Maritime Agencies2 weeks ago

NCDMB Hails STARZS @ 40, Reiterates Objectives of the Nigerian Oil and Gas Industry Content Development Act of 2010.

Maritime Agencies2 weeks ago

OPERATION WHIRLWIND: ‎Customs Auctions 20,500 Litres Of Confiscated PMS, NMDPRA Warns Against Products Diversion. ‎

Maritime Agencies2 weeks ago

Jumoke Oduwole, Industry, Trade and Investments Minister, Commends STARZS at 40, Tasks African Trade Ministers on AfCFTA. ‎

Maritime Agencies2 weeks ago

Apapa Port Customs Seizes Cannabis Sativa Worth over N26.5bn

Maritime Agencies2 weeks ago

‎STARZS INVESTMENTS COMPANY LTD: 40 Years of Private Indigenous Initiative, Shaping Nigeria’s Maritime Future.

Maritime Agencies3 weeks ago

Starzs Group Emphasizes Sustainable Corporate Social Responsibility, Urges Government to Strengthen Education Infrastructure.

Maritime Agencies3 weeks ago

STARZS CEO Commissions School Projects, Champions Environmental Protection and Tree -Planting to Mark 40th Anniversary.

Maritime Agencies3 weeks ago

Starzs’ 40th Anniversary : Group’s CSR Will Rewrite Our Story, Benefitting Communities Say. ‎

Maritime Agencies3 weeks ago

Starzs’ 40th Anniversary: Company Doles out Scholarships to 40 Youths from Host Communities, Maritime Institutions.

Personality Interviews3 years ago

ABUJA MoU: WE FUNCTION BEHIND A MASK, says Capt Umoren

Personality Interviews2 years ago

1. EXECUTIVE PLATFORM. AMES 2024: TIME TO CHANGE GOVERNMENT ATTITUDE TOWARDS SHIPPING DEVELOPMENT IS NOW, AMES President Charges FG.

Politics3 years ago

2023 ELECTIONS:CILT Hosts Seminar on Logistics & Electoral Process

Maritime Agencies1 year ago

B’ODOGWU TRADE PORTAL: Customs Consolidates, Pilots Form ‘M’ Processing. 

Maritime Agencies4 years ago

APFFLON Seeks Immediate Reform of CRFFN, Replacement of Registrar.

Maritime4 years ago

OMIS AWARDS, 2022: Greg Ogbeifun, Industry Gurus For Special Recognition.

Maritime Agencies2 years ago

JANUARY-MAY REPORT: Seme Customs Hits N2.6bn, Facilitates ₦35.1bn Exports.

Maritime Agencies2 years ago

HALF YEAR, 2024: Apapa Customs Nets ₦1.024 Trillion, Records 143% Increase.

Maritime Agencies11 months ago

‎B’Odogwu: Apapa Customs Collects ₦161b in 3 Weeks, Assures of Improvements .

Photospeak4 years ago

PHOTO NEWS: Maritime Capacity Development

Maritime Agencies3 years ago

FG Set To Re-establish National Shipping Line, To Take Advantage of $10 bn Annual Ship Charter Market.

Photospeak4 years ago

Photo News: Salah Celebration

News3 years ago

Sylvanus Ekpo, ex-Editor, Shipping World Magazine, loses Mum

News2 years ago

Mama Theresa Enisuoh Due For Burial April 27

Maritime Agencies4 years ago

MAN, ORON: It’s Encomiums Galore From International Seabed Authority (ISA).

Oil & Gas4 years ago

WAR AGAINST OIL THEFT: Tompolo’s Company Nabs VLCC Laden With Crude Oil

Advertisement
Realtime Website Traffic

Trending