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CVFF loans useless without jobs—- Shipowners

—I won’t touch it with a long pole–Captain Labinjo

The Eyewitness reporter
The Indigenous ship owners have expressed pessimism over the viability of the loans obtained under the controversial Cabotage Vessels Financing Funds (CVFF).
It could be recalled that the Minister of Transportation, Engr Muazu Sambo, at the weekend, announced the approval of President Muhammad Buhari for the disbursement of CVFF after over 17 years of inception, a decision that elicited mixed reactions among maritime stakeholders.
However, some indigenous ship owners, for whom the funds are meant, were less enthusiastic about the news which they said had become regular rhetorics from the government.
One of the cynics of the CVFF programme and who was less excited by the presidential approval which he said he had before was Captain Niyi Olabinjo, the former President of the Nigerian Indigenous Ship owners Association (NISA).
Speaking at the sidelines of the flag-off ceremony of the third phase of the Nigerian Seafarers Development Programme (NSDP) held in Lagos at the weekend, Captain Niyi Olabinjo said he was not excited by the news of presidential approval for the disbursement of the funds.
According to him, collecting the loans will be useless without having jobs to execute.
” I am not excited because getting a ship is just one aspect of the whole process but making sure the ship gets jobs is more crucial.
“Where are the jobs for the vessels that will be purchased by the CVFF loans?
He swore not to touch the loans with a ten-foot pole because of a lack of jobs to execute.
“I won’t apply for the loans, just like many other ship owners who have no jobs.
“Give me one million ships and don’t give me jobs, I would reject it” Captain Niyi Olabinjo declared.
He observed that the beneficiaries of the loans may find it difficult to pay back without jobs to execute.
He said that in other climes, it is not money that is only arranged for ship owners but jobs also.
”Personally, I will not apply. Some people may apply because they have jobs but I don’t have a job.
“Anyone who gets the CVFF, in another two, five to ten years, if he is unable to pay back, the government will start to harass him with the EFCC” he declared.
Captain Labinjo condemned the use of Cabotage waivers when foreigners like Indians, and Pakistani have taken over the Nigerian Cabotage trade, lamenting they are the ones running the tanker business in Nigeria.
“How many local operators have tanker vessels, maybe two or three, they have all gone under” he lamented.
He said the continued use of waivers for about 19 years now shows that the Nigerian Cabotage regime is not growing.
The indigenous operator also frowned at the exclusion of indigenous ship owners in the selection process of the beneficiaries of the funds.
” CVFF is like esusu( contributions) by indigenous ship owners. It is our esusu(money)”.
”How can you select the beneficiaries for disbursement without getting us involved in the process? he queried.
However, Umar Aminu, another foremost indigenous ship owner said he was excited at the news of presidential approval for the disbursement of the funds.
“I was excited because this is what the ship owners have been looking forward to over the years.
”We have been contributing towards the funds since 2007 so it is time for us to access it” Aminu enthused.
He disagreed with Labinjo, saying there are enough jobs for the beneficiaries of the loans to execute to enable them to liquidate the debts at the appropriate time.
He noted that securing the loans under the CVFF will mean more vessels and capacity development for local operators.
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Headlines

NIWA partners ICPC to strengthen internal transparency in its operations  

Gloria Odion, Maritime Reporter 
The National Inland Waterways Authority (NIWA) has announced new strategies aimed at improving its operational system and enhancing collaboration with key stakeholders as part of efforts to boost efficiency and accountability.
Speaking at a post event Press Conference at NIWA Headquarters Lokoja, the Acting Managing Director, Umar Yusuf Girei, while answering questions from journalists stated that, the organization convened a two -day Executive and Anti-Corruption training with the theme “Strengthening Integrity and Revenue System in Inland Waterways Management” organized for Board Members, Management and Area Managers and also 2026 NIWA Management Retreat in Abuja.
The Acting MD noted as part of the Renewed Hope Agenda of President Bola Ahmed Tinubu,with the support  Adegboyega Oyetola, Minister of Marine and Blue Economy, the Authority is focused on aligning institutional goals in ensuring better service delivery to Nigerians.
He further said, as part of its anti-corruption drive, the Management held discussions with the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to explore measures for strengthening transparency within its operations.
Girei therefore, assured staff that the ongoing reforms under his watch would translate into improved service and better working conditions.
“NIWA remains committed to continuous improvement and stakeholder engagement and the reforms are expected to enhance both internal performance and public confidence”. he stated.
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Headlines

Navy appoints new Maritime Guard Commander for NIMASA 

Gloria Odion,  Maritime Reporter 

The Chief of the Naval Staff, Vice Admiral Idi Abbas, has approved the appointment of Commodore Reginald Odeodi Adoki as the Commander of the Maritime Guard Command at the Nigerian Maritime Administration and Safety Agency (NIMASA).
Commodore Adoki takes over from Commodore H.C Oriekeze who has been redeployed.

Commodore Adoki, a principal Warfare Officer specializing in communication and intelligence,  brings onboard 25 years experience in the Nigerian Navy covering training, staff and operations.

 As a seaman, he has commanded NNS Andoni, NNS Kyanwa and NNS Kada.
It was under his command that NNS Kada under took her maiden voyage, sailing from the country of build (the United Arab Emirates) into Nigeria.
He was commissioned into the Nigerian Navy in 2000 with a BSc in Mathematics.
 He has since earned a Masters in International Law and Diplomacy from the University of Lagos and an M.Sc in Terrorism, Security and Policing at University of Leicester, England.
He is currently pursuing a Ph.D in Defence and Security Studies at the National Defence Academy (NDA).
He is a highly decorated officer with several medals for distinguished service.

Welcoming the new MGC Commander to the Agency, the Director General, Dr Dayo Mobereola, expressed confidence in Adoki’s addition to the team, emphasising that it will further strengthen the nation’s maritime security architecture given his vast experience in the industry.

The Maritime Guard Command domiciled in NIMASA was established as part of the resolutions of the Memorandum of Understanding (MoU) with the Nigerian Navy to assist NIMASA strengthen operational efficiency in Nigeria’s territorial waters, especially through enforcement of security, safety and other maritime regulations.

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Customs

Customs collects N1.585 trillion from 51 compliant traders under AEO programme 

Funso OLOJO,  Editor 
The Authorized Economic Operator (AEO), one of the trade facilitation tools introduced by the Nigeria Customs Service in 2025, has begun to yield bountiful harvests with the revenue growth of ₦362.79 billion recorded in 2025.
According to the AEO scorecard released by the Service, the facilitation tool grossed the sum of N1.585 trillion after certification, an increase revenue from N1.222 trillion before certification.
This represents the growth of N362.79 billion(29.68 per cent) for 51 AEO – certified entities as at October, 2025.
The Programme, according to the NCS,  also contributed 21.77% to its total revenue collection of ₦7.281 trillion in 2025, while customs duties paid rose by 85.66% due to enhanced compliance and increased volumes of legitimate trade.
According to AEO Monitoring and Evaluation (M&E) Report, the Programme achieved an average compliance rate of 85.45 per cent with the highest at 100 per cent and the lowest at 60 per cent.
“The evaluation applied rigorous methodologies to ensure objectivity, transparency, and alignment with the World Customs Organisation (WCO) SAFE Framework of Standards and the provisions of the Nigeria Customs Service Act, 2023.
“In the area of trade facilitation, AEO participation reduced average cargo clearance time from 168 hours to 41 hours, representing a 75.60% time saving.
“Company operating costs declined by 57.2 per cent while demurrage payments dropped by 90 per cent, limiting capital flight to foreign-owned port service providers and strengthening foreign exchange retention.
” Overall trade efficiency improved by 77.11 per  through digitalisation, simplified procedures, and targeted risk management” the Customs declared in the AEO scorecard.
However, the Service singled out with Eight companies for commendation due to their integrity and compliance under the programme.
The companies include Coleman Technical Industries Limited, WACOT Rice Limited, ROMSON Oil Field Services Ltd, WACOT Limited, Chi Farms Ltd, CORMART Nigeria Ltd, PZ Cussons Nigeria Plc, Nigerian Bottling Company Limited and MTN Nigeria Communications Plc.
The Service lauded them for a cumulative voluntary remittance of over a billion naira into the Federation Account following their self-initiated transaction review and disclosure.
“These actions reflect the strengthening of post-clearance audit mechanisms and a growing culture of voluntary compliance within the trading community.
Nevertheless, the Service suspended a firm under the programme for its non- compliance and display of lack of integrity.
The suspended firm engaged in false declaration of consignments contrary to programme obligations.
“Consequently, the Comptroller-General of Customs, Bashir Adewale Adeniyi, directed the immediate suspension of the company’s AEO status in accordance with the AEO Guidelines, the WCO SAFE Framework of Standards, and Section 112 of the Nigeria Customs Service Act, 2023.
The NCS reiterated that the AEO Programme is founded on trust, transparency, and continuous compliance.
“While compliant operators will continue to benefit from expedited clearance and reduced inspection, appropriate sanctions will be applied where violations are established.
“The Service remains resolute in safeguarding national revenue, facilitating legitimate trade, and preserving the integrity and global credibility of Nigeria’s AEO framework” the NCS concluded in the report.
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