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.
Maritime Agencies
Maritime Industry Bigwigs Pledge to Attend the Network of Nigerian Maritime Journalists (NNMJ) Unity Conference.
By Izuchukwu Ozoemena
As the Network of Nigeria Maritime Journalists (NNMJ) unveils “Seaport Modernisation, Trade Facilitation and Revenue” as the theme of her unification conference scheduled for November 13 in Lagos , several prominent personalities in Nigeria’s maritime industry and political landscape have indicated interest to attend.
These include the former Minister of Interior, Capt. Emmanuel Iheanacho; Senator Wasiu Eshilokun; former President of the National Association of Government Approved Freight Forwarders (NAGAFF), Dr. Eugene Nweke; and Dr. Kayode Farinto, former Acting National President of ANLCA.
Also participating are key policymakers, heads of maritime agencies, industry leaders, legal practitioners, freight forwarders and other critical stakeholders whose voices cannot be ignored while deliberating on the future of Nigeria’s maritime sector.
Former Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Barrister Temisan Omatseye, will chair the conference, while the Minister of Marine and Blue Economy, His Excellency Adegboyega Oyetola, will attend as Special Guest of Honour.
Renowned maritime lawyer, Barrister Emeka Akabogu, SAN, will deliver the keynote address at the event which takes place at Airport Hotel, Ikeja.
Discussions will particularly focus on ongoing reforms, infrastructure development and strategic interventions required to strengthen the maritime industry’s contribution to national economic growth.
According to Elder Dele Aderibigbe and Jerry Aguigbo, the NNMJ President and Public Relations Officer respectively, the conference will provide an avenue for constructive engagement among government representatives, maritime professionals and private-sector operators on practical measures to reposition Nigeria’s maritime industry for improved efficiency, productivity and global competitiveness.
Seaport modernisation, rehabilitation and renewal of critical port infrastructure, trade facilitation, ease of doing business, revenue optimisation and strategies for identifying and eliminating financial leakages across the maritime value chain will form key discussion points at the Unity Conference.
Participants will also examine opportunities for expanding Nigeria’s marine and blue economy, generating employment, strengthening maritime safety and security, and enhancing the competitiveness of the nation’s seaports.
The conference is expected to attract heads of government agencies, managing directors of shipping companies, terminal operators, freight forwarders, licensed customs agents and other influential stakeholders across the maritime industry.
The Unity Conference also avails stakeholders opportunity to evaluate existing government policies and reforms, identify implementation gaps and recommend sustainable solutions to improve port operations, facilitate legitimate trade, increase government revenue and unlock the vast economic potentials of Nigeria’s maritime sector.
The organizers further underscored the strategic importance of maritime journalism in promoting transparency and accountability, providing credible industry analysis and sustaining informed public discourse on government policies, regulatory interventions and reforms affecting the marine and blue economy.
The NNMJ leadership expressed confidence that the conference would strengthen relationships among industry stakeholders, encourage meaningful policy engagement and reinforce collective efforts towards building a more efficient, transparent and globally competitive maritime industry.
Maritime Agencies
AMANO Advocates Rapid Growth in Nigeria’s Maritime Sector, Holds National Convention
By Izuchukwu Ozoemena
As the 2026 National Convention and Stakeholders’ engagement of the Alumni of the Maritime Academy of Nigeria, Oron (AMANO) kicks off November 12 – 14, the
body has called for accelerated reforms and development in Nigeria’s maritime capacity training sector to ensure job creation for graduating cadets.
The convention will bring together maritime professionals, policymakers, regulators and shipowners, academics, cadets and other stakeholders for high-level deliberations on the future of the industry.
Speaking during a pre-event briefing in Lagos, Saturday, AMANO President, Mr. Emmanuel Maiguwa described the conference as a platform for policy alignment, innovation and practical solutions as it is more than a re+union of alumni.
This year’s convention, Maiguwa explained, is deliberately focused on moving from talk to action — with emphasis on reforms that can be implemented in maritime education, shipping, port operations, safety and blue economy development.
The convention will also provide an opportunity to introduce newly graduated cadets of MAN, Oron and their lecturers to maritime companies, institutions and stakeholders thus expanding their exposure to professional and employment opportunities.
Maiguwa had at the Academy’s 2026 Cadets Passing-Out Parade last week, urged graduands to embrace networking, professional development and mentorship as essential tools for building successful careers and invited them to the Lagos convention.
As part of its commitment to excellence, AMANO also announced cash awards of ₦150,000 each for Best HND Graduating Cadet and Best ND Graduating Cadet.
Stakeholders say the 2026 convention is coming at a critical time when Nigeria is pushing to unlock its blue economy, modernise its ports, strengthen its participation in the African Continental Free Trade Area (AfCFTA) and translate maritime policies into measurable results.
The three-day event is expected to feature keynote addresses, panel sessions, technical workshops, exhibitions and networking sessions, with recommendations to be presented to government and industry for implementation.
By Izuchukwu Ozoemena
The Nigeria Association of Women in Journalism (NAWOJ), Lagos Chapter has honoured veteran journalist, Hajia Hadiza Omowole, as Iconic Woman of the month for November.
This is contained in a release in Lagos jointly signed by Mrs Jumoke Falayi-Johnson and Mrs Anu Thomas, NAWOJ Chairperson and Secretary respectively.
Falayi-Johnson described Omowole as a true beacon of excellence, resilience and compassionate leadership, noting her selfless dedication to mentoring young journalists, empowering grassroots women and advocating gender equity..
Omowole’s tenacity, she stated, dedication to service and visionary leadership beautify the world. She described her as Mother-General whose pioneering spirit leaves indelible mark on journalism profession and society generally.
”Omowole holds Bachelor’s degree in Sociology and Anthropology from University of Benin and Master’s in Media, Culture and Technology from University of Bedfordshire, UK, spanning over three-decade distinguished journalism career.
”The veteran journalist joined News Agency of Nigeria in 1992, rising steadily through editorial ranks serving as Senior Editor, Deputy Editor-in-Chief and now Managing Editor and Head of Lagos Operations,” Falayi-Johnson said.
She noted that beyond editorial leadership, Omowole served two historic terms as National President of NAWOJ from 2014 to 2020, becoming first president re-elected, championing welfare and advancement of women journalists nationwide.
Through community specialist work, counselling and initiatives supporting rural and needy women, Omowole continues to serve as an inspiring pillar of guidance for the association and media industry.
The entire NAWOJ Lagos family celebrates Omowole’s unwavering commitment, pioneering spirit and incredible service to humanity, collectively wishing her more success in journalism, leadership and humanitarian endeavours ahead.
Omowole remained actively involved in institutional engagement, public communication, youth development and advocacy for health, child development and gender equality across Nigeria.
In her remarks, NAWOJ Lagos Secretary, Mrs Anu Thomas, noted that the association proudly recognised outstanding contributions of Omowole to journalism, women empowerment and leadership development in Nigerian media landscape.
Falayi-Johnson reiterated association’s pride in celebrating Omowole, describing her enduring legacy as an inspiration for upcoming female journalists and a testament to excellence in media leadership nationwide.
Maritime Industry Bigwigs Pledge to Attend the Network of Nigerian Maritime Journalists (NNMJ) Unity Conference.
AMANO Advocates Rapid Growth in Nigeria’s Maritime Sector, Holds National Convention
OUTSTANDING LEADERSHIP: NAWOJ Lagos Honours Omowole, NAN’s Managing Editor.
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Maritime Agencies6 days agoOUTSTANDING LEADERSHIP: NAWOJ Lagos Honours Omowole, NAN’s Managing Editor.
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Maritime Agencies3 weeks ago2026 World Maritime Day: Nigeria Subscribes to Safer Waterways and Excellence.
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Maritime Agencies3 weeks agoDredgers’ Body Disowns Report Alleging Extortion Against Lagos Commissioner Alebiosu, Cardoso.
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Maritime Agencies7 days agoCustoms FOU Zone ‘A’ Hits Smugglers Hard, Confiscates 23, 220 Matchettes, Other Contrabands Worth over N6.19bn.
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Maritime Agencies2 weeks agoSCAN SUMMIT, 2026: Conversion to Earn Higher Interest Rates, the Bane of the CVFF, Omatseye says.
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Maritime Agencies1 week agoOyetola, Omatseye, Akabogu, Other Dignitaries To Attend Network of Nigerian Maritime Journalists Unity Conference in Lagos.
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Maritime Agencies3 days agoAMANO Advocates Rapid Growth in Nigeria’s Maritime Sector, Holds National Convention
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Maritime Agencies3 days ago
Maritime Industry Bigwigs Pledge to Attend the Network of Nigerian Maritime Journalists (NNMJ) Unity Conference.