Headlines

Anxiety heightens on take -over threat of GT bank by Innoson boss, Chukwuma

Innocent Chukwuma, Chairman, Innoson Group,

Eyewitness reporter

There are now widespread jitters among the depositors of the Guarantee Trust Bank( GTB) over the recent move by the Chairman of Nigeria’s Auto manufacturing company, Innoson Group, Innocent Chukwuma, to take over the assets of the bank.

There has been a running legal battle between the bank and the owner of the auto manufacturing giant over a disputed “non-payment of N32 billion” owed the auto manufacturer.

Chukwuma, in an interview with journalists, said he was waiting to allow the debt to surpass the capacity of the back for payment before he moves in to take over its assets.

Innoson and GTB have had a business dispute leading to a prolonged legal battle.

Innoson had secured judgment debt against the bank in suit FHC/L/Cs/603/2006 and FHC/Cs/139/2012 respectively, which rose to over N32 billion due to accumulated interest.

In July, Innoson had asked a Federal High court in Lagos to set aside an order permitting GTB to restructure to a holding company.

But the bank completed the restructuring — GTB is now known as Guaranty Trust Holding Company Plc (GTCO Plc).

The billionaire businessman, at the media briefing, recounted that his relationship with the bank had been extremely cordial during the tenure of Olutayo Aderinokun, late MD of GTB.

“I was GTBANK’s best customer in the South-East when Tayo, the former MD, was alive. Because of this, they opened a branch in Nnewi. After Tayo, the new MD took over. I don’t even know him. I saw him for the first time last year,” Chukuma said.

“They started fighting about the tribe. I am not certain about this but I think the reason he (GTB) is fighting is because of the tribe. I don’t know exactly what his problem is.

“But finally, I have proved him wrong in everything. I have defeated him in all the courts we went to. The only thing left is for him to pay me what he owes me.

“He was going to my account and taking money anyhow. I discovered it, took him to court, and won. Up till now, he hasn’t paid and we have gone up to the Supreme court. Maybe he hasn’t paid because he wants Nigeria to change their law because of him.”

The Innoson boss explained that he would no longer “disturb” the bank to pay the debt.

According to him, he would take over the bank when it gets to the point that the bank cannot pay the principal amount plus 22 percent accrued interest.

“The beauty of the whole thing is that the money is attracting the interest of 22 percent. So, I am waiting for the interest to be above their capacity so I can take over the bank,” Chukuma said.

“That’s what I am waiting for. I am not disturbing them anymore. I am assuring all the customers of GTB that if I take over, I would still run it well. They shouldn’t fear. I haven’t done any business that fails.

“I will run it better than them. If they cannot pay me, I have no choice but to take over the management”, he declared.

This has created an atmosphere of anxiety among the depositors of the bank who are uncertain about the future of the bank in case the auto manufacturer carries out his threat.

Experts expressed fear of a backlash effect on the operations of the bank such as a possible run on the bank by its panicky depositors if the issue is not immediately resolved.

Customs

KLT Customs reaffirms commitment to stronger maritime stakeholder engagement

Deputy Comptroller Bolaji Adigun

Gloria Odion, Maritime reporter
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‎The Acting Customs Area Controller (CAC) of the Kirikiri Lighter Terminal (KLT) Area Command of the Nigeria Customs Service (NCS), Deputy Comptroller Bolaji Adigun, has reaffirmed the Command’s commitment to deepening engagement with stakeholders across the maritime industry in line with efforts to promote trade facilitation, transparency, and sustainable economic growth.
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‎Adigun gave the assurance through the Deputy Comptroller in charge of Administration, Comptroller T.A. Jonah, who represented him during a courtesy visit by the newly elected Executive Committee of the Maritime Reporters Association of Nigeria (MARAN) to the Command in Lagos.
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‎The Acting CAC, who was unavoidably absent, underscored the importance of sustained collaboration between the Nigeria Customs Service and key industry stakeholders, particularly the maritime media, in advancing the Service’s mandate and supporting national economic development.
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‎He described the media as a critical partner in disseminating information on government policies, customs reforms, trade facilitation initiatives, revenue generation, and anti-smuggling operations.
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‎According to him, maritime journalists occupy a strategic position in shaping public understanding and perception of activities within the port and maritime sector, stressing the need for professionalism, accuracy, and balanced reportage in the discharge of their duties.
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‎Adigun further assured the MARAN delegation that the KLT Area Command would continue to operate an open-door policy while fostering cordial and productive relationships with stakeholders within the maritime community.
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‎Earlier in his remarks, the President of MARAN, Mr. Oluyinka Onigbinde, stated that the visit formed part of the association’s ongoing stakeholder engagement initiative following the inauguration of its newly elected executive committee.
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‎Onigbinde explained that the purpose of the visit was to formally introduce the new leadership of the association to the Command and strengthen the longstanding relationship between MARAN and the Nigeria Customs Service.
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‎He commended the KLT Area Command for its contributions to trade facilitation, revenue generation, and enforcement activities, describing the Command as a vital component of Customs operations within Nigeria’s port system.
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‎The MARAN President also reaffirmed the association’s commitment to professional, objective, and development-driven journalism, noting that maritime reporters play a significant role in promoting informed discourse on issues affecting the industry.
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‎He further assured the Command of MARAN’s continued support for initiatives aimed at enhancing efficiency, transparency, and competitiveness within Nigeria’s maritime sector through responsible and factual reporting.

Headlines

One infant, three adults die, several others sustain injuries in fatal train derailment along Warri- Itakpe route

Funso OLOJO, Editor

The Nigerian Railway Corporation (NRC) has confirmed the death of four passengers in a train derailment along the Warri–Itakpe Train Service (WITS) corridor near Agbor, Delta State on Monday, June 8th, 2026.

Several others suffered various degrees of injuries.

In a statement by the Ministry of Transportation and signed by its Permanent Secretary, Engr. Funsho Adebiyi, the victims included two female adults, one male adult and one infant.

The accident involved four coaches which reportedly capsized while one coach derailed, resulting in the unfortunate loss of four lives.

The statement confirmed that a total of 442 passengers were booked on the train, while 40 crew members, security personnel, and third-party service providers were also on board, bringing the total number of persons on the train to 482.

The NRC had activated immediate rescue and evacuation operations with the support of the Delta State Government, NEMA, FRSC, the Police, Civil Defence, local authorities, security agencies, and other emergency responders, and were completed by 6:30 p.m on Monday .

The Injured passengers were evacuated to medical facilities in Agbor for treatment.

Other notable individuals on board included the Senator representing Delta Central Senatorial District, Senator Ede Dafinone, and former Delta State Secretary to the State Government, Hon. Patrick Ukah, among others.

As of the time of this release, 24 serious injuries have been recorded, while several other passengers sustained varying degrees of injuries and are receiving medical attention.

One NRC staff member suffered a traumatic limb injury and is currently receiving treatment and is reported to be in stable condition.

“The Ministry and the NRC extend their deepest condolences to the families of the deceased and pray for the quick recovery of all those injured.

“The Corporation also appreciates the swift intervention of the Delta State Government, emergency responders, security agencies, the NRC Mechanical Directorate, the Special Rescue and Emergency Team, medical personnel, and members of the public who assisted in the rescue efforts” the statement declared.

The ministry said full onboard manifest has been retrieved and will be made available upon request by the relevant authorities while efforts are ongoing to identify all the injured and deceased persons for proper documentation.

The Ministry in conjunction with the NRC have commenced a full investigation into the cause of the accident while efforts will continue to account for all passengers and provide the necessary support to those affected.

Commentaries

Why Nigeria must prioritize competency development and standards to harness gains of blue economy

Funso OLOJO, Editor

Nigeria is endowed with vast maritime resources which offer enormous opportunities for economic growth, employment generation, food security, and environmental sustainability.

With its fabled over 850 kilometers of coastline, extensive inland waterways, and strategic access to the Gulf of Guinea, the country is naturally blessed to emerge as a hub for maritime activities in Africa.

However , taking advantage of these huge massive maritime opportunities should be the priority of Nigerian government which must be intentional on developing competency level of its Maritime professionals and raise their

adherence to international standards.

The blue economy encompasses diverse sectors including shipping, fisheries, aquaculture, marine tourism, offshore energy, maritime logistics, shipbuilding, and marine environmental management.

These sectors are highly knowledge-driven and require a workforce equipped with specialized skills and globally recognized certifications.

Without competent professionals, Nigeria risks losing economic opportunities to countries with better-trained maritime personnel and stronger institutional frameworks.

Competency development is essential for enhancing productivity, safety, and operational efficiency across the maritime sector.

Skilled seafarers, marine engineers, port operators, logistics professionals, and environmental experts are critical to ensuring that maritime activities meet international best practices.

As global shipping and offshore industries become increasingly technology-driven, continuous training and capacity building are necessary to keep Nigerian professionals competitive in the international labour market.

Skilled maritime professionals such as seafarers, marine engineers and allied personnel in the sector could be sources of foreign exchange earnings for Nigeria as they could be exported to the international community.

Philippines and India are the world’s top exporters of skilled maritime personnel such as seafarers where they get the chunk of their foreign exchange.

If Nigeria could develop such capacity in skilled labourers in the sector and export their expertise, the country could harvest bountifully from such venture.

Equally important is the adoption and enforcement of internationally recognized standards.

Standards provide the framework for quality assurance, safety management, environmental protection, and operational excellence.

Compliance with global maritime standards established by organizations such as the International Maritime Organization(IMO) and the Nautical Institute enhances Nigeria’s credibility as a maritime nation and attracts foreign investment.

Investors and international partners are more likely to engage with institutions and businesses that demonstrate compliance with recognized benchmarks.

That is why the recent certification of the Maritime Centre of Excellence operated by NLNG Shipping and Marine Services Limited by the UK Nautical Institute is germaine to Nigeria’s quest to develop training capacity and build compliance with standard procedures

This feat also underscores the importance of world-class training institutions in building local capacity.

That is why the government should give necessary assistance to training institutions in Nigeria such as Maritime Academy of Nigeria(MAN), Oron and the Maritime Centre of Excellence operated by NLNG Shipping and Marine Services Limited.

Such government patronage and assistance will not only improve the quality of maritime training in Nigeria but also position the country as a regional centre for maritime education and professional development.

Prioritizing competency development and standards will also contribute significantly to maritime safety and environmental sustainability.

Well-trained personnel are better equipped to prevent accidents, manage maritime risks, and respond effectively to emergencies.

Furthermore, adherence to environmental standards helps reduce marine pollution, protect biodiversity, and ensure the sustainable utilization of ocean resources, which are fundamental pillars of the blue economy.

From an economic perspective, a competent workforce and strong standards framework can increase Nigeria’s participation in global maritime trade, create high-value jobs, reduce dependence on foreign expertise, and improve the country’s competitiveness.

It also supports local content development by enabling Nigerian professionals and companies to meet the requirements of international contracts and projects.

In conclusion, competency development and standards are not optional components of Nigeria’s blue economy strategy; they are foundational requirements for its success.

By investing in human capital, strengthening training institutions, and enforcing internationally accepted standards, Nigeria can fully harness the immense potential of its maritime resources and transform the blue economy into a major driver of national development, economic diversification, and sustainable growth.