Headlines

France seizes Russian oligarch’s yacht, detains multiple merchant ships

Seized Russian Oligarchy superyacht

France has seized the yacht believed to be owned by an oligarch with close ties to Putin.

French authorities are increasing their enforcement efforts under the European sanctions against Russia both detaining commercial merchant ships and in a high-profile action announced they had seized a superyacht linked to one of Russia’s wealthiest oligarchs.

France’s minister of the economy, Bruno Le Maire thanked customs officials for their efforts citing offenses under the newly imposed sanctions.

Customs inspectors boarded the superyacht Amore Vero, a 281-foot vessel registered in the Cayman Islands that features amenities rivaling those of a deluxe cruise ship, late on March 2.

According to the minister, the vessel had arrived at a French shipyard in La Ciotat near Marseilles on January 3 for three months of scheduled maintenance.

“At the time of the inspection, the ship was making arrangements to get underway urgently, without having completed the planned work,” said Le Maire in a press release.

He reported that customs undertook a check lasting several hours before seizing the vessel.

Le Maire said that they had determined that the vessel was owned by a company in which Igor Setchine, the head of the Russian oil company Rosneft, is believed to be the main shareholder.

“This vessel fell within the scope of the freezing measures,” the minister announced.

Representatives for the owners of the vessel are however disputing the French statements, contending that Setchine had no interest in their company.

Built in the Netherlands in 2013 at an estimated cost of $120 million, the yacht originally sailed as the St. Princess Olga but was reportedly sold in 2018 possibly as part of a divorce settlement.

The vessel has accommodations for 14 passengers and 28 crew. The vessel reportedly has a top speed of 20 knots and a cruising radius of 4,000 nautical miles.

While French authorities are saying the yacht has been seized, they are reporting that several merchant ships are also being detained and undergoing inspections to determine if they should be “frozen” based on the sanctions.

The bulk carrier Pola Ariake arrived from Ukraine at the port of Lorient, France early on Monday, February 28.

The vessel registered in Panama reportedly has a cargo of 27,000 tons of soybean meal aboard and is manned by a crew of 20 Russian and Ukrainian sailors.

French authorities are however saying that Paola Maritime is the manager and that the vessel’s ownership is linked to the Russian Ministry of Transport.

The investigation is ongoing to determine if the vessel will be permitted to resume operations.

Similarly, in the port of Fos-sur-Mer near Marseille, a smaller Russian-register general cargo ship is also being detained.

Victor Andryukhin, an 8,172 dwt vessel arrived at the port on Sunday traveling only with ballast. Built in 2021, the vessel is reportedly manned by 12 Russian crew.

French officials have detained the vessel keeping the crew onboard while they investigate.

On Saturday, France intercepted the RORO cargo ship, Baltic Leader shortly after it departed Rouen heading for St. Petersburg.

The vessel docked at the French port of Boulogne-Sur-Mer and remains detained at the port.

French officials are linking ownership of the vessel to the son of a former Russian intelligence officer, saying that the ship violated the sanctions.

Customs

How NPA’ s ETO call- up system hampers seamless export processes at Lilypond Terminal — Customs

Funso OLOJO

The Customs Area Controller of the Lilypond Export Command, Comptroller Ajibola Odusanya, has attributed the persistent delay in export cargo movement at the command to logistics issues associated with the Nigerian Port Authority’s Eto call-up system, rather than any bottlenecks from the Nigeria Customs Service (NCS).

Eto call- up system is a structured movement of container- laden trucks into the terminals meant to decongest Port access road and facilitate quick goods clearance at the port.

It was developed by the NPA and driven by a private company.

However, Comptroller Odusanya, speaking at a Roundtable with members of Maritime Reporters Association of Nigeria (MARAN),emphasized that while the command has streamlined the export process, lack of available slots for trucks to enter the ports remains a major challenge.

He noted that despite the command’s efforts, numerous containers remain stranded at Lilypond due to the inability of trucks to secure clearance under the Eto system.

He explained that prior to the implementation of a centralized export processing system, multiple customs units across Apapa, Tin Can, PTML, and Lekki ports handled export documentation.

However, in July 2024, the government directed the full centralization of all export processes under the Lilypond Export Command.

This move, driven by the Presidential Enabling Business Environment Council (PEBEC) and backed by agencies such as the Nigerian Export Promotion Council (NEPC) and the Nigerian Ports Authority (NPA), was aimed at streamlining operations and reducing multiple checkpoints.

Odusanya revealed that between January and December 2024, the command processed exports valued at approximately $1.9 billion, a figure that could have been higher if the consolidation had occurred earlier in the year.

He added that in February 2025 alone, the command facilitated exports worth $225.1 million.

He attributed these successes to inter-agency collaboration, with Customs working alongside the Department of State Services (DSS), the National Drug Law Enforcement Agency (NDLEA), and quarantine services, among others.

Despite the improved export facilitation, Odusanya acknowledged that challenges persist, particularly with the Eto call-up system, which has created logistical constraints.

He explained that export containers often get delayed at Lilypond not due to customs processes but because of congestion at the ports, caused by import containers awaiting clearance.

He pointed out that while Apapa remains the busiest port for exports, the congestion problem is less severe at Tin Can due to the presence of an export processing terminal.

On the issue of the Nigerian Export Proceeds (NXP) form, Odusanya stated that the command has ensured compliance with all regulatory requirements.

He, however, acknowledged exporters’ concerns about the process and assured that Customs is working to facilitate seamless trade while ensuring adherence to financial regulations.

He urged maritime stakeholders, including the media, to continue sensitizing exporters on the ease of processing export goods through Lilypond, emphasizing that the command operates transparently and does not condone extortion.

He reiterated that officers at the entry points are strictly there to verify processed cargo and not to serve as an additional checkpoint.

Odusanya concluded by reaffirming the commitment of the Lilypond Export Command to supporting Nigeria’s growing export sector, ensuring efficiency in cargo movement, and addressing any emerging challenges in collaboration with relevant stakeholders.

Economy

Dangote group remits N402.3 billion tax to government coffers in 2024

Gloria Odion

The Pan African Conglomerate, Dangote Industries Limited and its subsidiaries, have disclosed that it paid over N402 billion in taxes in 2024, making it the highest taxpayer in the country.

Dangote’s Chief Branding and Communication Officer, Anthony Chiejina, declared during a meeting with some senior media executives who visited him in his Lagos Office.

He said Dangote Industries Limited (DIL) and its subsidiaries, namely, Dangote Cement, NASCON, Dangote Packaging Limited among others, remitted a total of N402.319billion for the out-gone year as taxes as responsible business enterprises.

Recall that Federal Inland Revenue Service (FIRS) had in late 2024 recognised Dangote group and its subsidiary, Bluestar Shipping as the most tax compliant organizations in the country during its Special Day at the 2024 Lagos International Trade Fair organised by the Lagos Chamber of Commerce and Industry (LCCI).

The Federal Inland Revenue Service is Nigeria’s agency responsible for assessing, collecting and accounting for tax and other revenues accruing to the Federal Government of Nigeria.

Chiejina told his visitors that as a responsible business organisation, DIL and its subsidiaries have never shieded away from its obligations either to the government in the form of tax payment at all levels or to host communities in the form of Corporate Social Responsibility (CSR).

According to him, the Group’s corporate strategy has evolved just as its businesses have grown, matured and diversified into new sectors and regions over the last four decades.

He noted that Dangote Group has almost single-handedly taken Nigeria to self-sufficiency in cement and refined petroleum products and is expanding rapidly across Africa.

Dangote Group and its subsidiaries were recognised as number one most compliant in tax payment in the country, just as its subsidiary Dangote Cement, the country’s leading cement manufacturer, at another occasion won three awards at the FMDQ Gold Awards in Lagos as the most active business in the Foreign Exchange market.

Dangote Cement Plc was adjudged as the Largest Commercial Paper Quotation on FMDQ and Single Largest Corporate Debt Issue on FMDQ.

Also, Dangote Industries Ltd also emerged as the “Most active corporate in the foreign exchange market”.

Headlines

NIWA Chairman charges Oyebamiji to phase out wooden boats from Nigeria’s waterways

Funso OLOJO

The newly appointed Chairman of the National Inland Waterways Authority (NIWA), Hon.Musa Sarkin-Adar, has charged the management team of the Authority led by its Managing Director, Bola Oyebamiji, to phase out wooden boats from Nigeria’s waterways.

Musa Sarkin-Adar, who paid a

familiarization visit to the management team of NIWA in its Abuja liaison office, in a bid to minimize boat mishaps on the waterways.

He believed it would be a lasting legacy for the present leadership of NIWA if accidents could be minimized on the Waterways.

The Chairman’s advice is however in alignment with the NIWA’ s resolve to stamp out wooden and rickety boats on waterways.

However, Musa Sarkin-Adar further encouraged the NIWA team to do more in connecting other states in the water transportation.

He emphasized on the need for the involvement of the private sector in the development of water transportation, as government cannot do it alone.

In his response, Oyebamiji expressed appreciation for the visit and encouraging words of the chairman and pledged the commitment of of NIWA management to make the nation’s waterways safe and secure.

Oyebamiji also commended the efforts of his management team in the development of the Inland Waterways

Transportation sub-sector.

According to him, he is blessed with an experienced and dedicated team which he cannot take the glory alone.

The Chairman’s visit was attended by all the management staff of the Authority.