Maritime Agencies
MARAN Breakfast Meeting: Nigeria – China Currency Swap Deal Will Favour Trade, says CBN.
By Izuchukwu Ozoemena
The Central Bank of Nigeria (CBN) says a Nigeria-China currency swap deal has the potential to impact on Nigeria’s maritime industry by reducing shipping costs, enhancing trade efficiency, and easing foreign exchange pressure.
CBN Governor, Mr. Olayemi Cardoso, stated this in Lagos, Tuesday, while speaking at a stakeholders’ breakfast meeting organized by the Maritime Reporters’ Association of Nigeria (MARAN).
He explained that the agreement originally signed in 2018 and renewed in December 2024 enables Nigerian and Chinese businesses to conduct trade directly in Naira and Yuan (the Chinese currency), thus, bypassing the U.S. dollar.
Cardoso who was represented by Anthony Ogufere, the Special Adviser on Finance and Strategy, stated: “The swap agreement simplifies the settlement of trade transactions in local currencies and reduces the pressure on Nigeria’s dollar reserves. This, in turn, lowers the cost of doing business and enhances the competitiveness of Nigerian trade.”
The CBN Governor informed that by the end of 2024, China had become Nigeria’s largest trading partner, accounting for about 35% of total imports and reaching a trade volume of $11.58 billion. He added that the maritime sector, which handles the majority of Nigeria’s import and export activities, stands to benefit immensely through faster port clearance, improved trade finance instruments, and direct shipping links such as the Lekki Deep Sea Port—a Chinese-backed infrastructure project under the Belt and Road Initiative.
The CBN Governor, however, acknowledged that several challenges still hinder the full potential of the currency swap framework. Chief among them is Nigeria’s significant trade imbalance with China and the limited adoption of yuan-denominated transactions by Nigerian businesses. He called for greater sensitization, policy coordination, and efforts to expand non-oil exports to China.
Also speaking at the event, Mr. Martins Olajide, a representative of the Nigeria-China Strategic Partnership, offered a more cautious outlook. He noted that while the swap deal provides short-term relief and smoother trade operations, it is not a sustainable solution to the naira’s persistent depreciation.
Describing the swap arrangement as “swapization,” Olajide warned that Nigeria’s economic vulnerability and dependence on imports—especially from China—undermines the true impact of the agreement. He emphasized the need for structural reforms, particularly in industrialization, value addition, and local production.
“Without these changes, the swap deal may only reinforce economic dependence on China without solving the underlying issues,” he warned.
In his opening remarks, the Chairman of the event and Chairman of the Customs Consultative Council (CCC), Aare Akeem Olarenwaju, decried the volatility of the naira-dollar exchange rate as a major cause of the skyrocketing cost of goods in Nigeria. He called for greater public awareness of alternative currency options like the Chinese yuan.
“You can’t determine the price of goods within a few hours due to constant exchange rate changes. Today it’s ₦1,600 to a dollar, and in the next few hours, it could be ₦1,700 or ₦1,500. It’s the common people who suffer the most,” Olarenwaju lamented.
He commended the organizers for opening up conversations around trade, currency, and maritime development, urging media professionals to help educate the public on alternatives that could reduce the nation’s dependence on the U.S. dollar.
Earlier in his welcome address, MARAN President, Mr. Godfrey Bivbere, reaffirmed the association’s commitment to promoting dialogue on key economic issues. While acknowledging the swap deal’s promise in reducing transaction costs and enhancing trade efficiency, Bivbere stressed the need for a balanced discourse.
“We are not only here to applaud progress but also to interrogate policy. We must understand both the positive impact and the underlying risks associated with China’s expanding economic footprint in Nigeria,” he said.
Bivbere urged stakeholders across the maritime, trade, and financial sectors to approach the Nigeria-China currency swap with critical insight, noting that sustainable benefits would only come through policies that protect national economic interests while encouraging growth and competitiveness.
By Izuchukwu Ozoemena
Come Tuesday, June 23, the newly elected Executive Council of the Maritime Reporters Association of Nigeria (MARAN) will be inaugurated at the Rockview Hotel, Apapa, Lagos with the theme
’Upholding Ethical Journalism for Maritime Development.’
The event scheduled for 10 am is expected to, among others, attract top players in the maritime, shipping, logistics, security and media sectors. Heads of key regulatory agencies and leaders of various maritime associations have also indicated interest to grace the occasion.
Chairman of the occasion is the President of the Maritime Security Providers Association of Nigeria (MASPAN), Emmanuel Maiguwa Gankino, while renowned public relations and event management expert, Bolaji Abimbola, will deliver the keynote address.
Among dignitaries expected are 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 and the Executive Secretary/Chief Executive Officer of the Nigerian Shippers’ Council (NSC), Barrister Pius Akutah Ukeyima.
The Comptroller-General of the Nigeria Customs Service, Bashir Adewale Adeniyi, alongside chief executives of maritime agencies, captains of industry, terminal operators, shipping companies, freight forwarders and other stakeholders across the maritime value chain will also attend.
Speaking ahead of the inauguration, MARAN President, Comrade Oluyinka Onigbinde, described the event as a defining moment in the association’s quest to deepen professionalism, credibility and responsible maritime reporting.
He said the new executive would focus on strengthening the association through capacity building, constructive engagement and adherence to ethical standards, stressing that responsible journalism remains critical to transparency, accountability and sustainable growth in Nigeria’s maritime industry and the nation’s blue economy aspirations.
By Izuchukwu Ozoemena
In recognition of his outstanding contributions to maritime journalism, consistency in reporting and commitment to promoting informed discourse on Nigeria’s maritime and transport sectors, Oluyinka Onigbinde, President, Maritime Reporters’ Association of Nigeria (MARAN) has been honoured as Maritime Reporter of the Year, 2026.
The investiture took place during the 12th Nigerian Transport Lecture and Awards event organized by Transport Day Media.
The annual Nigerian Transport Lecture, is one of the country’s foremost gatherings of policymakers, regulators, transport operators, academics and journalists, where critical issues affecting the transport industry are examined and excellence within the sector is celebrated.
This year’s lecture on the theme “Intermodal Transportation Safety in Nigeria: Prospects, Challenges and Contributions to National Growth,” featured a keynote address by former Corps Marshal of the Federal Road Safety Corps (FRSC), Dr. Boboye Oyeyemi, who called for stronger measures to improve safety across Nigeria’s transportation system.
Onigbinde’s emergence as Maritime Reporter of the Year was widely applauded by industry stakeholders, who described the award as a fitting recognition of his years of dedication to objective, investigative and impactful maritime journalism.
Over the years, Onigbinde has built a reputation for in-depth reports, policy analyses, exclusive interviews and balanced coverage of Nigeria’s ports, shipping, customs administration, freight forwarding, logistics and the blue economy.
Aside his role as Assistant Editor of Shipping Position Daily, Onigbinde recently assumed office as President of MARAN where he has pledged to promote professionalism, strengthen collaboration between the media and maritime stakeholders, and advance credible, ethical maritime journalism in Nigeria.
Speaking shortly after receiving the award, Onigbinde expressed appreciation to the organisers for the recognition, describing it as both humbling and motivating.
He dedicated the award to members of MARAN, his colleagues at Shipping Position Daily, his mentors, industry stakeholders and everyone who has supported his journalism career over the years.
The recognition, he stated, serves as a renewed challenge to continue pursuing factual, balanced and impactful journalism that contributes to the growth and development of Nigeria’s maritime and transport sectors.
He also reaffirmed his commitment to upholding the highest ethical standards and supporting initiatives aimed at improving efficiency, transparency safety and sustainable development within the nation’s maritime industry.
The latest recognition adds to the growing list of honours received by Onigbinde for his contributions to maritime journalism and comes at a time when he is leading MARAN with a vision centred on professionalism, capacity building and constructive engagement with stakeholders across the maritime industry.
The Transport Day Media Awards are regarded as one of the transport sector’s notable platforms for recognising individuals and organisations whose work have significantly advanced Nigeria’s transport ecosystem through policy, innovation, advocacy, operational excellence and media coverage.
Maritime Agencies
APAPA CUSTOMS’ Intelligence-led Operations Yield Massive Seizure of Cannabis Sativa, other Contrabands.
By Izuchukwu Ozoemena
In a significant demonstration of the ability to detect and dismantle sophisticated smuggling networks striving to exploit Nigeria’s maritime entry points for illicit activities, the Apapa Command of the Nigeria Customs Service, in collaboration with the National Drug Law Enforcement Agency (NDLEA), Monday, intercepted a large consignment of cannabis sativa otherwise called ‘Canadian Loud’.
Recovered were 3,639 sachets of the illicit
substance, with each sachet weighing 500 grams. This brings the total weight to approximately 1,819 kilograms (1.81 as confirmed by preliminary field tests which yielded positive results for Cannabis Sativa.
The Command’s image maker, Chief Superintendent of Customs Isah Sulaiman stated this in a release on behalf of the Customs Area Controller, Comptroller Emmanuel Oshoba .
Through her intelligence-driven monitoring, CSC Sulaiman explained, officers of the Command, working in liaison with sister agencies, successfully nabbed the drugs cleverly concealed inside a black Toyota Nissan vehicle, a Toyota Sienna, along with several bags and drums loaded inside a container with number CAAU7569127.
”In a related development, the Command intercepted 2 x 40FT containers loaded with expired pharmaceutical products illegally imported into the country. Physical examination revealed that the pharmaceutical products have varied expiry dates of 2021, 2022 and 2023 which the importers planned to relabel and reintroduce into the Nigerian market, posing serious health risks to unsuspecting consumers.”
”The 1 x 40FT with number PCIU8771576 contained expired pharmaceuticals including Cidoxilin Capsules, Cynamine Vitamin B12 Injection and Becoline B-Complex Injection while 1 x 40FT container with number MRKU4961275 contained various expired medical products such as Oxytocin Injection, Mexclor Eye Drops, Avomex Tablets, Carbamazepine Tablets, Silymarin Tablets, Nystatin Tablets, Hyoscine Butylbromide Tablets.”
The seized items have a combined Duty Paid Value (DPV) of ₦12,784,479,341.72k only.
The substantial seizure, the Command explained, highlights the scale of the attempted economic sabotage and underscores the unwavering commitment of the Nigeria Customs Service to protect national security, public health and the Nigerian economy through intelligence-driven enforcement operations.
Commenting on the seizures, the Customs Area Controller (CAC), Apapa Area Command, Comptroller Emmanuel Oshoba warned unpatriotic importers and their collaborators who deliberately engage in smuggling, drug trafficking and the importation of expired pharmaceuticals, declaring them as enemies of Nigeria’s progress.
”We have the intelligence, the technology and the resolve to identify and apprehend them. Anyone still contemplating these criminal acts should immediately desist because the consequences will be swift, decisive and uncompromising. Apapa Port will not be used as a conduit for economic sabotage and public health endangerment,” the CAC warned.
Assuring that Apapa Port and all Customs-controlled areas remain under constant surveillance, he further warned that the entire officers of the Command remain resolute in protecting the Nigerian economy, safeguarding public health and preventing criminal exploitation of the nation’s borders.
The CAC restated the Command’s commitment to intensify intelligence-driven operations in order to protect lives, secure legitimate trade and uphold national security.
MARAN Makes History June 23 as it Inaugurates New Leadership.
MARAN President, Oluyinka Onigbinde, Bags ‘Maritime Reporter of the Year’ Award.
APAPA CUSTOMS’ Intelligence-led Operations Yield Massive Seizure of Cannabis Sativa, other Contrabands.
Greg Ogbeifun, Warredi Enisuoh, Task FG on Shipping Development as Platform Communications Marks 10th Anniversary.
Capt Warredi Enisuoh Set To Deliver Keynote Speech At 10th AMSAY Conference.
Ports Police Seek Stronger Media Collaboration to Boost Maritime Security.
New MARAN Leadership Set for Inauguration, June 23.
NIMASA Urges Ethical Journalism, Stronger Media Partnership to Drive Blue Economy Growth. …As MARAN condoles agency over staff’s Death.
CHANGE OF BATON at PTML Customs, Miko Replaces Joe Anani.
Comptroller Anani Succeeds ACG Onyeka as Tincan Customs CAC, Pledges to Build on Lofty Achievements.
REPORTER’S DIARY: How Lagos State Task Force Made Me ‘Igbobi Landlord’ For Filming Operatives Extorting Suspected ‘Okada’ Operators In Apapa*
Tantita Donates 15 Gun Boats to Nigerian Army, Navy.
ANLCA Harps on Responsible Reportage, Pledges Support for New MARAN Exco,
Tincan Customs, NDLEA Promise Hard Times for Drug Peddlers, Seize N16,694bn worth of Cannabis Indica .
MARAN Seeks Strategic Partnership With NPA on Port Modernisation, Capacity Building
OGUN AREA 1 CUSTOMS Dares Smugglers, Confiscates Contrabands Worth N6.7Bn in 5 Weeks.
1. EXECUTIVE PLATFORM. AMES 2024: TIME TO CHANGE GOVERNMENT ATTITUDE TOWARDS SHIPPING DEVELOPMENT IS NOW, AMES President Charges FG.
2023 ELECTIONS：CILT Hosts Seminar on Logistics & Electoral Process
APFFLON Seeks Immediate Reform of CRFFN, Replacement of Registrar.
B’ODOGWU TRADE PORTAL: Customs Consolidates, Pilots Form ‘M’ Processing.
OMIS AWARDS, 2022: Greg Ogbeifun, Industry Gurus For Special Recognition.
JANUARY-MAY REPORT: Seme Customs Hits N2.6bn, Facilitates ₦35.1bn Exports.
HALF YEAR, 2024: Apapa Customs Nets ₦1.024 Trillion, Records 143% Increase.
PHOTO NEWS: Maritime Capacity Development
FG Set To Re-establish National Shipping Line, To Take Advantage of $10 bn Annual Ship Charter Market.
Photo News: Salah Celebration
B’Odogwu: Apapa Customs Collects ₦161b in 3 Weeks, Assures of Improvements .
Sylvanus Ekpo, ex-Editor, Shipping World Magazine, loses Mum
Mama Theresa Enisuoh Due For Burial April 27
WAR AGAINST OIL THEFT: Tompolo’s Company Nabs VLCC Laden With Crude Oil
MAN, ORON: It’s Encomiums Galore From International Seabed Authority (ISA).
SIFAX GROUP: Ojeniyi Becomes Sky Capital GMD, Omajuwa Strategy Director.
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Maritime Agencies3 weeks agoNew MARAN Leadership Set for Inauguration, June 23.
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Maritime Agencies3 weeks agoCHANGE OF BATON at PTML Customs, Miko Replaces Joe Anani.
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Maritime Agencies3 weeks 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 Agencies3 weeks agoPorts Police Seek Stronger Media Collaboration to Boost Maritime Security.
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Maritime Agencies3 weeks agoCapt Warredi Enisuoh Set To Deliver Keynote Speech At 10th AMSAY Conference.
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Maritime Agencies1 week agoGreg Ogbeifun, Warredi Enisuoh, Task FG on Shipping Development as Platform Communications Marks 10th Anniversary.
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Maritime Agencies6 days agoAPAPA CUSTOMS’ Intelligence-led Operations Yield Massive Seizure of Cannabis Sativa, other Contrabands.
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Maritime Agencies3 days agoMARAN President, Oluyinka Onigbinde, Bags ‘Maritime Reporter of the Year’ Award.