Headlines

Repayment plan: the burden of CVFF Disbursement

Chika Chukwudi

The long-anticipated disbursement of Nigeria’s Cabotage Vessel Financing Fund (CVFF) marks a defining moment for the nations maritime sector. Approved by President Bola Ahmed Tinubu GCFR, the release of the fund signals more than policy execution it reflects a strategic effort to reposition Nigeria as a formidable maritime nation by empowering indigenous shipowners.

Established under the Cabotage Act and administered by the (NIMASA), the CVFF was conceived as a revolving fund to provide financial support for vessel acquisition, thereby strengthening local participation in coastal and inland shipping. For years, its implementation remained stalled, making the current move both significant and symbolic.

Yet, beyond the excitement surrounding its disbursement lies a more critical conversation one that centers on responsibility, discipline, and long-term national interest.

At its core, the CVFF is not a grant; it is a loan facility designed to be repaid. This distinction is crucial. The sustainability of the fund depends entirely on a strong repayment culture among beneficiaries. Without it, the very foundation of the scheme risks collapse.

For individual beneficiaries, defaulting on repayment carries immediate and tangible consequences.

Financial institutions involved in the disbursement process may enforce recovery measures, including the seizure of financed assets. Beyond asset loss, defaulters risk reputational damage that could limit access to future financing opportunities, both locally and internationally.

In an industry where credibility is currency, such setbacks can be difficult to overcome.

However, the implications of default extend far beyond individual losses. A breakdown in repayment culture would weaken the revolving structure of the CVFF, depriving future applicants of access to critical funding. In effect, todays defaults could shut the door on tomorrows opportunities, slowing the growth of indigenous shipping capacity and reinforcing dependence on foreign vessels.

The ripple effects would also be felt at a national level, particularly in Nigerias standing within the global maritime community.

As a member of the (IMO), Nigeria occupies a Category C seat, a position reserved for countries with special interests in maritime transport and a demonstrated commitment to its development.

Maintaining this status is not automatic. It requires continuous proof of progress, institutional credibility, and adherence to global best practices.

The effective management of initiatives like the CVFF plays a critical role in shaping international perception. A pattern of loan defaults, fund mismanagement, or weak regulatory enforcement could erode confidence in Nigeria’s maritime governance framework.

Such a scenario may weaken the countrys bid to retain its Category C seat at the IMO, ultimately reducing its influence in global maritime decision-making. For a country with vast coastal resources and strategic shipping potential, this would represent a significant setback.

Conversely, disciplined utilization and timely repayment of the CVFF can yield transformative results.

A successful cycle of funding and repayment would enable continuous reinvestment, expanding opportunities for more operators, increasing fleet capacity, and generating employment. It would also demonstrate Nigerias readiness to manage large-scale maritime interventions effectively, strengthening its voice on the global stage.

In this context, the CVFF becomes more than a financing tool it becomes a test of collective responsibility. Beneficiaries are not just loan recipients; they are key stakeholders in a national project with international implications.

As disbursement begins, the message to applicants is clear: prudent use of funds, strict adherence to approved purposes, and unwavering commitment to repayment are non-negotiable.

The future of Nigeria’s maritime industry and its standing in the global maritime community may well depend on it.

The opportunity is historic. The responsibility is immense. And the consequences of failure are far-reaching.

Chika Chukwudi, an Assistant Director in the Public Relations Unit of NIMASA, Abuja Zonal Office writes from Abuja

Customs

Apapa Customs commences stricter crowd control measures to enhance security at command

Funso OLOJO, Editor

In response to the rising wave of insecurity across the country, the Apapa Area Command of the Nigeria Customs Service (NCS) has concluded plans to tighten access control measures to ensure that only authorized persons gain entry into the command to conduct official business.

As part of the new security arrangement, all licensed clearing and forwarding agencies operating at the command have been directed to submit the names of three representatives through Customs Form C-30, who will be authorized to carry out daily transactions on behalf of their companies.

The NCS Form C-30 is an operational document that serves as proof of authorization for a licensed clearing and forwarding agent to operate within a designated Customs command. It is a mandatory requirement for cargo clearance and export processing at Nigerian ports.

The initiative comes amid heightened efforts by government agencies and private organizations to strengthen security protocols and protect personnel, facilities, and critical national assets from emerging threats.

Speaking exclusively with our correspondent, the Area Controller of Apapa Command, Comptroller Emmanuel Oshoba, said the measure is aimed at reducing the number of visitors to the command and enhancing access control in response to growing security concerns nationwide.

According to him, the requirement for clearing and forwarding agencies to nominate representatives for Customs transactions is already provided for in the Nigeria Customs Service Act 2023, although it has not been fully implemented.

He disclosed that the Apapa Command has decided to activate the provision in view of the prevailing security situation in the country.

“This is a standard procedure globally to enhance security at ports, which are critical to the world economy.

“In Nigeria, our ports are the arteries of the economy, and we cannot afford to expose them to the risk of attacks.

“We have to be proactive and not wait until an unfortunate incident occurs before taking action.

“America never expected the September 11 terrorist attacks.

“It is for these reasons that the management of the Service has decided that the enforcement of the crowd-control provisions contained in the Customs Act 2023 should commence at the Apapa Command, given its status as the largest and flagship Customs command in the country,” Oshoba stated.

The Customs Area Controller explained that restricting physical access to accredited company representatives would not only strengthen security but also improve operational efficiency and facilitate better monitoring of activities within the command.

He further disclosed that the policy, which is scheduled to take full effect next week, will significantly limit the movement of unauthorized persons within the command premises.

“The accredited representatives of all registered clearing and forwarding agencies will be issued official duty identification cards, which will grant them access to the command.

“Whenever there is a change in personnel, the concerned agency will notify the command so that the necessary adjustments and replacements can be updated in our system.

“Visitors, including journalists, will be required to register at the gate and will be issued visitor identification cards.

“This is a standard practice globally. I am aware that terminal operators such as Grimaldi at PTML and APM Terminals at Apapa Port already operate similar crowd-control mechanisms,” he noted.

The new access-control regime follows recent efforts by the Presidential Enabling Business Environment Council (PEBEC) to improve security, operational efficiency, and reduce the cost of doing business at the ports.

It could be recalled that between May 14th and 16th, 2026, PEBEC, led by its Director-General, Princess Zahrah Mustapha Audu, coordinated a major enforcement operation along the Apapa and Tin Can port corridors in Lagos to dismantle illegal checkpoints and extortion points obstructing cargo movement.

The operation targeted notorious extortion locations, including Liverpool Bridge, the Terminal International Container Terminal (TICT) Second Gate, NAGAFF Junction, ETISALAT Roundabout, and Fidelity Roundabout.

Working in collaboration with the Nigerian Ports Authority (NPA), Nigeria Customs Service (NCS), Nigeria Police Force, and the Lagos State Government, PEBEC sought to restore order and eliminate unauthorized checkpoints that had become a major impediment to trade facilitation.

The exercise resulted in the immediate removal of illegal structures and unauthorized personnel operating along the corridor, while authorities issued a stern warning against any attempt to re-establish the extortion checkpoints.

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.