By Izuchukwu Ozoemena

Contrary to the impression being bandied in certain quarters regarding the safety of the Cabotage Vessel Financing Funds (CVFF), the acruals remain intact and secure in the vaults of the Central Bank of Nigeria and her Single Treasury Account (TSA) arrangement.

Dr Dayo Mobereola, the Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA) gave the update, November 19 in a release by the agency.
According to the Director-General, the update has become necessary to refute misleading publications alleging that the funds have disappeared from the CVFF account.

“The report of missing money is both misleading and false”, the agency’s Assistant Director of Public Relations, Edward Osagie explained in a press statement.

“For the record, the Cabotage Vessel Financing Fund, securely held in the NIMASA account at the Central Bank of Nigeria (CBN), remains intact. There has been no disappearance of funds, and no illegal transactions, as the article suggests.

“This misinformation is a figment of the author’s imagination aimed at undermining NIMASA’s integrity, and mislead the public about the Agency’s operations.

“The Management of NIMASA will ensure that the CVFF is utilised in line with its statutory purpose”, the
NIMASA Director General stated.

Mobereola was emphatic about the state of the funds and assured stakeholders of the safety under the CVFF.

“Let us be clear that the CVFF account at the Central Bank of Nigeria is safe, intact, and secure. We at NIMASA will continue to manage it with the utmost responsibility, and there are no irregularities or illegal activities surrounding the funds”

He urged the public to disregard any false narratives and to continue trusting the Agency’s ability to uphold the integrity of Nigeria’s maritime sector.

The CVFF is a fund established under section 42 of the Coastal and Inland Shipping (Cabotage) Act 2003 to promote the development of indigenous ship acquisition capacity and to provide credit facilities to local maritime operators.

NIMASA, the release assured, is committed to transparency, accountability, and the advancement of Nigeria’s maritime sector.



By Izuchukwu Ozoemena

In a colourful and well-attended event, Tuesday, the Ogun 1 Command of the Nigeria Customs Service celebrated the retiring Customs Area Controller, Comptroller James Ojo. His successor, DC MS Shuaibu also received encomiums for being found worthy to take over the mantle of leadership.

Following official redeployments and movements across Customs Commands earlier in the year, it is recalled, DC Shuaibu temporarily held sway at the Ogun 1 Area Command, Idiroko. Last April, however, he handed over the reigns to Comptroller James Ojo who was newly deployed to head the Command and left to assume duties as the Coordinator of the now-disbanded Joint Border Patrol Team Sector 2, Southwest.

But now the table has turned, retiring Comptroller Ojo handed over the leadership baton to DC Shuaibu at the Ogun 1 Command, Idiroko.

Speaking at the brief but impressive handing-over ceremony, Comptroller Ojo expressed gratitude to officers and men of the Command for the massive support and cooperation he enjoyed during his stint at the Command.

“Under my watch,” Comptroller Ojo stated, “this Command has not only enforced our mandate of revenue generation, border security and trade facilitation but has also made strides in building stronger collaborations with sister agencies and stakeholders. Together, we have intercepted illicit goods, curbed smuggling and facilitated legitimate trade. Our collective efforts have positioned the Ogun 1 Command as a key player in Nigeria’s economic and security architecture. As I retire, I must express my profound gratitude to the Comptroller General of Customs for the trust reposed in me and for providing the support that enabled the Command’s successes.”

In his remarks, DC MS Shuaibu, the newly deployed controller, applauded Comptroller James Ojo for leaving a legacy of resilience, collaboration and notable achievements.

He pledged to deepen the commitment to prioritizing teamwork, innovation, and discipline among officers and men of the Command.

“I call upon all officers and stakeholders in the Command to join me in this renewed effort as the task ahead is daunting. But with unity, dedication and the grace of God, we can surmount every challenge.’’

He promised to strengthen and maintain collaboration with sister- agencies so as to ensure border security and facilitate legitimate trade.

The handing-over ceremony was attended by a cross section of notable traditional rulers from Idiroko area and beyond. Senior officers from sister-agencies in Nigeria and neighbouring Benin also graced the occasion.

Matawalle Appeals For Restraint From Critics, Commends Tinubu For Economic Reforms

By Izuchukwu Ozoemena

Minister of State for Defence, H.E. Dr. Bello Muhammad Matawalle has lauded President Bola Ahmed Tinubu for introducing robust economic policies and reforms which are yielding positive results for the nation and contributing to rejig the economy for the benefit of Nigerians.

Concerning current criticism from some quarters in Northern Nigeria, Matawalle urged those involved to be positive in their narratives even as they remain steadfast in their support for the President.

“It is crucial for Nigerians to stand united behind Mr. President who is working hard to revitalize our economy through a series of effective policies, programmes and reforms,” Henshaw Nwadike, image maker, Ministry of Defence, quoted the Minister as saying.

Matawalle specifically highlighted President Tinubu’s tax reforms as a pivotal element in the country’s economic turnaround. He explained that these reforms are designed to create a more equitable tax system which will enhance revenue generation for the government while easing the financial burden on ordinary citizens and small businesses.

“By broadening the tax base and ensuring that everyone pays their fair share, President Tinubu is laying the groundwork for sustainable economic growth. These reforms will not only increase government revenues but also stimulate investment and job creation across various sectors,” the Minister explained.

He further noted that the tax reforms aim to simplify the tax administration process, making it easier for individuals and businesses to comply. This will foster a more business-friendly environment, encouraging entrepreneurship and innovation which are essential for driving economic progress.

Matawalle also highlighted several key achievements across various sectors, particularly noting improvements in national security. He emphasized that President Tinubu has made substantial strides in enhancing the capabilities of the Nigerian military through the provision of modern hardware and equipment. Additionally, he assured that military personnel have received timely payment of their allowances and salary increases, which has significantly boosted their morale.

“Under President Tinubu’s leadership, we are witnessing a renewed commitment to the safety and well-being of all Nigerians, and I encourage everyone to recognize the positive changes taking place,” Matawalle concluded.