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
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.
Capt Warredi Enisuoh Set To Deliver Keynote Speech At 10th AMSAY Conference.
Ports Police Seek Stronger Media Collaboration to Boost Maritime Security.
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NIMASA Urges Ethical Journalism, Stronger Media Partnership to Drive Blue Economy Growth. …As MARAN condoles agency over staff’s Death.
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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,
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NPA Mourns her Ace Cameraman, Paul Erakhifu, alias “Texas”.
MARAN Elects Yinka Onigbinde As New President.
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Maritime Agencies3 weeks agoTantita Donates 15 Gun Boats to Nigerian Army, Navy.
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Maritime Agencies3 weeks agoTincan Customs, NDLEA Promise Hard Times for Drug Peddlers, Seize N16,694bn worth of Cannabis Indica .
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Maritime Agencies3 weeks agoANLCA Harps on Responsible Reportage, Pledges Support for New MARAN Exco,
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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 Agencies2 weeks agoComptroller Anani Succeeds ACG Onyeka as Tincan Customs CAC, Pledges to Build on Lofty Achievements.
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Maritime Agencies6 days agoCHANGE OF BATON at PTML Customs, Miko Replaces Joe Anani.
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Maritime Agencies5 days 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 Agencies4 days agoNew MARAN Leadership Set for Inauguration, June 23.