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

Kaila, Seme Customs CAC, seeks collaboration with stakeholders to achieve seemless trade along border corridor

Funso OLOJO, Editor

The new Area Controller of the Seme Command of the Nigeria Customs Service, Comptroller Abdullahi Kaila, has reached out to traditional rulers and sister agencies at the border communities to ensure the achievement of his mandate of detection, determent of smuggling, revenue generation and trade facilitation along the border corridor.

To achieve these objectives, Comptroller Kaila went on tour of the communities within the border corridor where he met and sought for the support and cooperation of major critical stakeholders, including the traditional rulers and sister agencies.

According to him, his objective was to eradicate trade hindrances affecting free movement of goods and services along the Lagos-Abidjan business corridor.

Speaking at the Palace of Oba Akran of Badagry Kingdom, the Customs Area Controller condoled with the royal family and entire people of Badagry kingdom on the passing away of HRM De Wheno Aholu Menu Toyi I who was a well recognized traditional ruler across the border communities.

“”The purpose of my visit is to introduce myself as the Area Controller of Seme Command and to equally seek your royal blessing and support to achieve the core mandate of the service.

“Our priority remains to generate revenue, facilitate trade, and suppress smuggling.

“And we in the Customs believe that without due support and co-operation from traditional rulers, we can not have effective performance of our functions as Customs officers” he said

The King Regent, Chief Abel Ogunbiyi, who described Kaila as the son of the soil, added that “We have listened to your request.

” Know that Badagry is a very peaceful town, and we will keep collaborating with you in safeguarding our borders and in promoting legitimate trade, ” he stated.

Comptroller Kaila also visited the Onibereko of Ibereko Awori-Kingdom, where the monarch, Oba Israel Okoya, signifies his commitment to fostering the service relationship with residents living within the border communities

“I welcome you to Badagry and be rest assured that I will always talk to my people whenever the need is required.

” In our town, our youth does not engage in illegalities as I have no other choice than to assist you in achieving the government mandate, ” he mentioned

While at the Palace of Alapa of Apa Kingdom, the king HRM Oba Oyekan Ajose Ilufemiloye commended and described the CAC, Comptroller Kaila as a professional, seasoned and well respected officer as described by indigenes of border communities.

“I promise you that I will always assist you in my area for anything that you need.

“Our border here has been peaceful because our youth always listen to the elders, and I know with your presence here, things will change for the better, ” he said

In his efforts to consolidate on existing synergy between sister security agencies, Kaila also visited Headquarters of 653 Nigerian Air force base, Ahanve-Badagry.

The Commanding Officer, Group Captain Hungruy Medugu,expressed the readiness of the formation to always support the command in achieving its mandate.

“Our collaboration has been key to various successes we have recorded in our area of responsibility.

” Your presence here strengthens existing bonds of inter-agency collaboration between both Services, and we will not take it for granted ,” he said

The Area Controller then ended his familirisation tour with seeking for mutual cooperation with a visit to the Republic of Benin Police office, showing his readiness to eradicate hindrances affecting the free movement of goods and services across the border.

Headlines

Opeifa decries encroachment on NRC properties across the country

— praises collaboration with Abia, Enugu govts.

Funso OLOJO, Editor

The Managing Director of the Nigerian Railway Corporation (NRC), Dr. Kayode Opeifa, has reiterated his displeasure over the widespread practice of encroachment on the properties of the Nigerian Railways Corporation across the country, warning that such action would not be tolerated by his administration.

Opeifa was speaking during the separate meetings he recently had with the governments of both Abia and Enugu states.

Represented by the Railway District Manager, Eastern District, Mr. Agwonye Francis Ejike, the NRC boss quickly condemned the occupation of the Corporation’s right- of – way by squatters in Umuahia, while correcting the wrongly- held belief that the Railway is defunct.

Opeifa however applauded the cordial and collaborative relationship between the Corporation and the governments of both Abia and Enugu.

According to him, such productive harmony can only yield even greater positive results for the benefit of the people.

During the Umuahia meeting, Dr. Opeifa strongly praised the Abia State Government for its crucial assistance in clearing the NRC’s right-of-way within Umuahia.

He reiterated unequivocally that no one is permitted to build any structure on railway property without obtaining express approval from his office.

Appealing directly to the public, he urged for greater patience, stressing that the plans for the critical track extension from Aba, through Umuahia to Enugu and beyond, remain very much on course.

Responding on behalf of the Abia State Government, Mr. Kingsley Agomoh stated that the State Government is actively engaging all stakeholders by providing alternative, seamless locations for those currently conducting business on the railway right-of-way.

He further revealed that the state government has already finalized plans to plant trees along the route, creating a leisurely and aesthetically conducive environment for relaxation, replacing previous commercial activities.

The high-powered team then embarked on an extensive inspection of the alternative relocation site for displaced persons; the demolition site where iron barrier installation is progressing; the Umuahia Central Bus Terminal; the site for the new Umuahia Railway Station; and the route for the proposed link road passing through the existing railway station.

The meeting also explored the provision of a temporary location for the Railway Police and the PTO, pending the construction of the new Umuahia Station, which is designed to include a police station and other NRC offices.

The same impactful message was delivered to Enugu State, where the Commissioner of Transportation, Dr. Obi Ozoh (representing the State Government), equally assured the NRC MD of the Enugu State Government’s unwavering commitment to collaborating with the Corporation to achieve its aims and objectives.

Describing Dr. Opeifa as a personal friend from their private sector days, Dr. Ozoh lauded him as a leader who “knows perfectly well what he is doing.”

He further assured the NRC that the Enugu State Government will actively assist in demolishing any obstruction on the Corporation’s right-of-way, stressing that the state eagerly awaits the flag-off to recommence construction of the rail line from Aba to Enugu and beyond.

Customs

SIFAX Group sponsors Customs feature film “Novara”

– a story- telling movie on the sacrifices, resilience of customs officers in safeguarding Nigeria’s borders

Gloria Odion, Maritime reporter

In a landmark evening that brought together the worlds of commerce, security, and storytelling, SIFAX Group was prominently recognised as a major sponsor at the star-studded premiere of ‘Novara’, the Nigeria Customs Service’s (NCS) debut feature film, held on Saturday, April 25, 2026, at the Viva Cinemas, Jara Mall, Ikeja, Lagos.

The high-profile event, which drew senior customs officials, industry leaders, members of the diplomatic community, and entertainment figures, marked an unprecedented moment in Nigeria’s institutional storytelling, with the NCS leveraging the power of cinema to illuminate the bravery and sacrifices of its officers in the relentless fight against smuggling.

Representing SIFAX Group at the event was Mrs Ololade Dawodu, Head of Clearing and Forwarding at SIFAX Shipping, who delivered an address that drew a direct line between the film’s narrative and the realities of maritime operations at Nigeria’s ports.

She noted that the story resonates strongly with real-life operations at Tin Can Island Port, one of Nigeria’s busiest commercial gateways and a critical hub within SIFAX Group’s operational landscape.

“For those of us in the industry, the sight of cargo ships and port operations is familiar but this film takes us beyond the surface, revealing the high-stakes reality that underpins global logistics.” she said.

Dawodu emphasised that the story goes beyond entertainment, serving as a tribute to the courage and resilience of officers who protect the nation’s economic lifelines.

She pointed to the film’s portrayal of loss and sacrifice as a sobering reminder of the human cost tied to security enforcement.

“At SIFAX Group, we believe that a secure maritime sector is the backbone of a thriving economy. Without security, trade cannot flourish.” she stated.

SIFAX Group’s partnership with the initiative did not go unnoticed.

The film’s producer, Agozie Ugwu, and the Superintendent of Customs 1, Mr Okpanachi Adejoh, both publicly commended SIFAX Group’s contributions to the project’s success, describing the Group’s sponsorship as instrumental in bringing the story to the screen at the scale it deserved.

The premiere concluded on a reflective note, with guests commending both the storytelling and the collaboration between the creative industry and key institutions.

For SIFAX Group, the evening reinforced a clear message: sustainable growth in trade and logistics depends not only on infrastructure and expertise, but also on unwavering commitment to security.

About ‘Novara’

Directed by acclaimed filmmaker Agozie Ugwu and featuring veteran Nollywood actors Francis Duru and Ray Adeka, Novara tells the story of a dedicated customs officer navigating the dangers of undercover operations, while also shedding light on the personal sacrifices made by law enforcement personnel.

Through its narrative, the film highlights the often-unseen risks involved in safeguarding Nigeria’s borders.

The film follows Superintendent Panshak Asiya, an undercover Customs officer who risks everything, including the safety of his family, to dismantle one of the country’s most dangerous smuggling syndicates.

Beyond its gripping action sequences, the film explores themes of love, faith, sacrifice, and the unseen human cost of law enforcement.