Maritime Agencies
CVFF DISBURSEMENT: Despite NIMASA’s Ultimatum, No Ship Owner Qualifies Now, says 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.
By Izuchukwu Ozoemena
Captain Warredi Enisuoh, Executive Director, Operations and Technical at the Tantita Security Services Ltd, will deliver the keynote speech at the 10th Annual Maritime Students and Youth Conference (AMSAY) billed for June 10, 2026. Venue is the Conference Hall of the Mission To Seafarers, 29 Marine Road, Apapa GRA, Lagos.
As stated in a release, Enisuoh will speak on the lead paper entitled, “The Youth and the Future of Nigerian Maritime Sector: Understanding How Nations Develop Their Maritime Industry.”
Organised by Platforms Communications annually, the arrowhead, Sylvanus Obasi, says the AMSAY Conference has over the past decade evolved into a critical platform for youth advocacy, mentorship and stakeholders’-students engagement to discuss and proffer solutions to contemporary issues affecting the future of Nigeria’s maritime sector, having consistently driven conversations around industry reforms, capacity growth, innovation and sustainable development.
With over two decades of global experience spanning maritime operations, aviation, and national security, Captain Enisuoh is widely regarded as a leading authority in maritime safety, shipping development, and infrastructure protection in Nigeria’s oil and gas sector.
He holds a Master Mariner Class 1 Unlimited Foreign Going License, an Aircraft Pilot’s License, and a Diploma in Aviation. His academic journey includes training at the Maritime Academy of Nigeria, Oron; Arab Maritime Transport Academy, Egypt; Australian Maritime College, University of Tasmania; Tasmanian Aviation College; and the Swiss Air Training Centre in Zurich.
Over the years, he has held strategic roles across continents, including eight years with Pacific International Lines in Singapore and six years with the Australian Maritime Safety Authority (AMSA). He also served as a lecturer, instructor, course developer, and examiner at the Australian Maritime College.
In Nigeria, he contributed significantly to sectoral development during his tenure at the Nigerian Maritime Administration and Safety Agency (NIMASA), where he served as Director of Maritime Safety and Director of Shipping Development.
Capt Warredi”s Keynote Speech will also feature a high-level panel discussion moderated by Captain Dr. Fola Ojutalayo, Marine Surveyor and Senior Lecturer at the Federal College of Fisheries and Marine Technology.
Panelists are drawn from diverse segments of the maritime industry, including regulators, shipowners, local content experts, technical professionals, legal practitioners, operators, and the academia as representatives from NIMASA, Shipowners Association of Nigeria (SOAN), Nigerian Shipowners Association (NISA), Nigerian Content Development and Monitoring Board (NCDMB), NLNG Shipping and Marine Services Limited, and the Maritime Academy of Nigeria, Oron, are expected to discuss the lead paper .
By Izuchukwu Ozoemena
The Ports Authority Police (Western) Command has called for deeper collaboration with maritime journalists as part of efforts to strengthen security within Nigeria’s port environment and support the growth of the nation’s maritime economy.
Commissioner of Police, Ports Authority Police (Western) Command, CP Oluwatoyin Iyabode Agbaminoja, made the call on Tuesday while receiving the newly elected executives of the Maritime Reporters Association of Nigeria (MARAN) during a courtesy visit to the Command Headquarters in Apapa, Lagos.
The visit, led by MARAN President, Mr. Oluyinka Onigbinde, provided an opportunity for both parties to reaffirm their commitment to promoting safety, security, and operational efficiency across Nigeria’s maritime domain.
Speaking during the engagement, Onigbinde commended the Command for its efforts in safeguarding the nation’s ports and other critical maritime assets, noting that security remains a key pillar for sustainable trade and economic development.
He pledged MARAN’s continued support through responsible journalism, accurate reporting, and constructive engagement with stakeholders in the maritime sector.
According to him, the media has a crucial role to play in creating public awareness, promoting transparency, and highlighting issues that impact the efficiency and competitiveness of Nigerian ports.
In her remarks, CP Agbaminoja congratulated the newly elected MARAN leadership and acknowledged the association’s longstanding contribution to the dissemination of credible information on developments within the maritime industry.
She emphasized that stronger cooperation between law enforcement agencies and the media would enhance public trust, improve security consciousness, and contribute to national economic growth.
The Commissioner noted that effective communication and timely information sharing are essential in addressing security challenges within the port ecosystem, stressing that the media remains a strategic partner in achieving those objectives.
She further assured the association of the Command’s readiness to maintain open channels of communication and foster productive partnerships aimed at advancing port security, maritime safety, and trade facilitation.
Nigeria’s ports serve as critical gateways for international trade and revenue generation, making security within the maritime sector a matter of national economic importance. Stakeholders have consistently advocated greater collaboration among security agencies, regulators, operators, and the media to strengthen surveillance, curb criminal activities, and improve operational efficiency.
The meeting concluded with both the Ports Authority Police Command and MARAN reaffirming their commitment to sustained engagement and cooperation in support of a safer and more efficient maritime industry.
By Izuchukwu Ozoemena
Nigeria’s pioneer maritime journalists’ body, the Maritime Reporters Association of Nigeria (MARAN) will inaugurate her brand new Executive Council on Tuesday, June 23, 2026, at the Rockview Hotel, Apapa, Lagos.
The high-profile event which is planned to bring together key stakeholders from the maritime, shipping, logistics, security, and media sectors will also feature discussions on strengthening ethical standards in maritime journalism.
The theme of the inauguration is “Upholding Ethical Journalism for Maritime Development.”
The Chairman of the occasion is Emmanuel Maiguwa Gankino, President, Maritime Security Providers Association of Nigeria (MASPAN), while the keynote address will be delivered by Mr. Bolaji Abimbola, a leading public relations and event management expert.
Special Guests of Honour expected at the event include the Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola; the Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho; the Executive Secretary/Chief Executive Officer of the Nigerian Shippers’ Council (NSC), Barr. Pius Akutah Ukeyima; and the Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi, MFR. Also expected are chief executives of maritime agencies, captains of industry, leaders of maritime associations, terminal operators, shipping companies, freight forwarders, and other critical stakeholders across the maritime value chain.
Speaking ahead of the inauguration, MARAN President, Comrade. Oluyinka Onigbinde, described the event as a defining moment in the association’s journey towards deepening professionalism, credibility, and responsible maritime reportage.
The new executive council, he stated, will focus on repositioning MARAN as a stronger voice within the maritime sector through capacity building, constructive engagement, and adherence to ethical journalism standards.
He noted that the theme of the event underscores the indispensable role of the media in promoting transparency, accountability, and sustainable development within Nigeria’s maritime industry.
“The maritime industry is central to Nigeria’s economic growth, and ethical journalism remains a vital instrument for ensuring that developments within the sector are accurately reported and constructively engaged,” he added.
Onigbinde further called on government agencies, industry operators, and media practitioners to continue supporting initiatives aimed at strengthening maritime journalism and advancing the nation’s blue economy aspirations.
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Maritime Agencies3 weeks agoTantita Donates 15 Gun Boats to Nigerian Army, Navy.
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Maritime Agencies3 weeks agoREPORTER’S DIARY: How Lagos State Task Force Made Me ‘Igbobi Landlord’ For Filming Operatives Extorting Suspected ‘Okada’ Operators In Apapa*
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Maritime Agencies1 week agoCHANGE OF BATON at PTML Customs, Miko Replaces Joe Anani.
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Maritime Agencies1 week agoNIMASA Urges Ethical Journalism, Stronger Media Partnership to Drive Blue Economy Growth. …As MARAN condoles agency over staff’s Death.
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Maritime Agencies1 week agoPorts Police Seek Stronger Media Collaboration to Boost Maritime Security.
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Maritime Agencies1 week agoNew MARAN Leadership Set for Inauguration, June 23.
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Maritime Agencies5 days agoCapt Warredi Enisuoh Set To Deliver Keynote Speech At 10th AMSAY Conference.