Shall-Holma, a former Director in the Nigerian Shippers’Council, observed that deepening trade entails making use of every mode, linkage and transportation mode available to ensure goods were moved from one place to the other.
According to her, there are endless opportunities in the area of water transportation for goods that can be opened up to enhance trade in Africa.
She said that Sealink was looking at exploiting the rivers that could be used for shipping cargoes across Africa.
She said that the Nile river, which was about 6,650 nautical miles in length, flowed down to Ethiopia and sometimes beyond the Blue and White Nile.
“So, these are tributaries that are actually flowing into the Nile. If we open up that as we have already started talking to the Zambezi and talking to Tanzania.
“If we open up that and Egypt re-echoes the development, you know what will happen to the entire eastern flank of Africa.
“In West Africa, we have the Congo River that is just below us and the Niger River. Niger River is a very long river, it’s actually only shorter than the Nile River.
“So we are proud we are sitting on the Niger River and we must utilise that opportunity because it is an opportunity that has been with us.
“The British came and used it for well over 100 years. But we have just come and we are looking at the fishes, the tilapia and the croakers that are in the river.
“And we do not know that can open up a new window, a very fresh window for growth and development. Nothing grows a nation like connectivity and accessibility.”
She also said that a feasibility study was carried out on the coast of Namibia all the way to Senegal in the West and Central African sub-region.
Also, there was the possibility of linking some of the islands that were on the Atlantic Ocean to enhance trade along that region.
She added that it would be more profitable for any shipping link to take in all the cargo that it could take on the Atlantic Ocean.
She said this prompted the organisation to show interest in Cape Verde in the Northern Atlantic, Sao Tome and Principe and then Equatorial Guinea, in the Gulf of Guinea.
She said this was done to confirm the veracity of the claims of importers and exporters, that cargoes leaving West Africa were going somewhere else for trans-shipment.
According to the chairperson, this will amount to double or triple costing.
She, however, said that most of the countries along the West and Central African subregion were now very proud to claim that they have better ports and infrastructure.
Shall-Holma added that they had also improved their logistics and their value chains were at nearly 50 percent to 60 percent.
Sealink Project is a Public-Private Partnership (PPP) arrangement established to promote the development of a regional maritime company that would remove the bottlenecks and non-tariff measures along the ECOWAS trade corridor.
It was conceived based on the need of importers, exporters and shippers to create a value chain that would sustain the economy of Nigeria and develop additional networks to trade with other African countries.
P&ID fraud : Court convicts, winds up Marqott Nigeria Limited.
Justice D.U Okorowo of the Federal High Court sitting in Abuja has convicted and wound up Marqott Nigeria Limited, one of the 30 companies associated with the Process and Industrial Development Limited, P & ID, for money laundering.
The company was convicted on Thursday, June 16, 2022, after being found guilty of four-count charges bordering on money laundering preferred against it by the Economic and Financial Crimes Commission, EFCC.
Count one of the charges read: “That you, Marqott Nigeria Limited, being a designated Non-financial Institution; and Giovanni Beccarelli, Valentina Fantoli, and Dimitri Duca, being directors of and signatories to the bank account of Marqott Nigeria Limited, sometime in September 2014, in Abuja, within the Abuja Judicial Division of the Federal High Court, failed to comply with the requirements of submitting to the Federal Ministry of Industry, Trade and Investment, a declaration of activities of Marqott Nigeria Limited contrary to Section 16(1) (f) read together with Section 5(1)(a)(ii) of the Money Laundering (Prohibition) Act, 2011(as amended and you thereby committed an offence punishable under section 16(2)(b) of the same Act.”
Count two read: “That you, Marqott Nigeria Limited, being a designated Non-financial Institution; and Giovanni Beccarelli, Valentina Fantoli, and Dimitri Duca, being directors of and signatories to the bank account of Marqott Nigeria Limited, sometime in September 2014, in Abuja, within the Abuja Judicial Division of the Federal High Court, failed to develop programs to combat money laundering and other illegal acts, to wit: failure to designate at management level a compliance officer within any strata of Marqott Nigeria Limited, contrary to Section 16(1)(f) read together with Section 9(1)(a) of the Money Laundering (Prohibition) Act, 2011 (as amended) and you thereby committed an offence punishable under Section 16 (2)(b) of the same Act”.
At the point of the first arraignment on February 7, 2022, the defendant pleaded “not guilty” to the charges, setting the stage for a full trial.
In the course of the trial, the EFCC presented many witnesses and tendered many documents as exhibits.
In his judgment, Justice Okorowo found Marqott Nigeria Limited guilty of all the four-count charges and convicted it accordingly. He also ordered that the company be wound up and its entire assets forfeited to the Federal Government of Nigeria.
Marqott was first arraigned on Monday, February 7, 2022, for being an accomplice in the $9.6bn Gas Supply and Processing Agreement between the Ministry of Petroleum Resources and P&ID.
N25.7bn fraud: Appeal Court affirms conviction of ex-Bank PHB MD, Atuche, others
A three-man panel of the Court of Appeal, Lagos Division, on Thursday, June 23, 2022, upheld the conviction of a former Managing Director of the defunct Bank PHB Plc, Francis Atuche, as well as the bank’s former Chief Financial Officer, Ugo Anyanwu.
Atuche and his co-convict, Anyanwu, had approached the appellate court to set aside their conviction by Justice Lateefa Okunnu of the Lagos State High Court sitting in Ikeja, Lagos on June 16, 2021, over a N25.7 billion fraud.
The panel, comprising Justices Sadiq Umar, Adebukola Banjoko and Kayode Bada, while resolving all the issues in the appeal in favour of the Economic and Financial Crimes Commission, (EFCC) except the sentencing, also clarified that Atuche’s jail term was 12 years concurrently, rather than 120 years, handed down by the lower court, if calculated consecutively.
Also, the panel reduced Anyanwu’s jail term from 10 years to eight years and affirmed the discharge and acquittal of Atuche’s wife, Elizabeth.
In an abridged ruling read by Justice Umar, the three-man panel upheld the EFCC’s arguments and unanimously dismissed the appeal.
It would be recalled that, in 2021, Justice Okunnu, while sentencing Atuche and Anyanwu, had upheld the arguments of the prosecution counsel, Kemi Pinheiro, SAN.
Jamoh raises hope on removal of war risk insurance on Nigeria- bound cargo
The Honorable Minister expressed delight at the equipment and assets of NIMASA, stating that it underscores the importance the Federal Government attaches to combating maritime crimes and ensuring zero tolerance for illegal activities on the nation’s territorial waters.
While commending the synergy and collaboration amongst agencies of Government in the maritime sector, the Honorable Minister expressed delight at the fact that Nigeria has witnessed piracy-free waters since 2022.
Accordingly, she said; “for over 28 years, we have been in the press for the wrong reasons, over the piracy issues at the Gulf of Guinea (GoG).
Furthermore, Senator Saraki noted the need to sustain the momentum to ensure Nigeria remains attractive to investors, adding that the Ministry is delighted at the steps NIMASA is taking to address the issue of War Risk Insurance premium on Nigerian Bound Cargoes.
“The most important thing now is that we don’t rest on our oars. The Free Trade Agreement and how it affects Nigeria is our focus.
However, the Director-General of NIMASA, Dr Bashir Jamoh disclosed that the focus of the agency is sustaining the achievements in recent times, adding that the plans are in three categories of short medium and long term.
“Our focus now is to sustain the tempo
“Though Nigeria was removed from the red list of piracy nations on the 3rd of March this year, it is natural that the international community will desire sustainability.
Customs4 weeks ago
Finally, FG concessions operations of Customs to Chinese, Nigerian company for 20 years.
Customs4 weeks ago
Customs loses Compt. Danlami Haruna, Area Controller Bauchi/Gombe Command
Customs2 months ago
Exclusive! Mass retirement hits Customs as 549 officers bow out of service in 2023
Customs2 months ago
Customs High Command interdicts officers over assault on Gov. Okonwa’s aide
Customs4 weeks ago
Terrorists overrun Customs Post in Katsina
Customs4 weeks ago
Court orders Customs to pay ₦100m compensation over gruesome murder of peasant farmer in Kebbi state