From right: DG NIMASA, Dr. Bashir Jamoh presents a souvenir to the chairman, CVFF Steering Committee of the Nigerian Indigenous Shipowners’ Association NISA, Dr. Edward Sohwo shortly after a meeting.

The Management of the Nigerian Maritime Administration and Safety Agency, NIMASA has continued with constant stakeholders’ consultation and engagements with a view to ensuring effective communication to attain seamless disbursement of the Cabotage Vessel Financing Fund CVFF as approved by President Muhammadu Buhari.

NIMASA management led by its Director General, Dr. Bashir Jamoh this week, held a fruitful meeting between the agency and the CVFF Steering Committee of the Nigerian Indigenous Shipowners’ Association NISA led by its chairman Dr. Edward Sohwo.

From left: Executive Director Operations NIMASA, Mr ShehuAhmed, chairman, Cabotage Vessel Financing Fund CVFF Steering Committee of the Nigerian Indigenous Shipowners Association NISA, Dr. Edward Sohwo, Director General NIMASA, Dr. Bashir Jamoh and Executive Director, Maritime Labour and Cabotage Services, NIMASA, Engr. Victor Ochei during a visit by the NISA CVFF Steering Committee to the NIMASA headquarters in Apapa, Lagos.

The NIMASA DG used the opportunity once again to reassure the indigenous shipowners of the commitment of the agency under the supervision of the Federal Ministry of Transport to implement the Presidential approval for the disbursement of the fund.

Recall that the Federal Government through the Federal Ministry of Transport had last month shortlisted five commercial banks comprising Union, Zenith, Polaris, UBA and Jaiz Bank to act as Primary Lending Institutions PLIs, for the disbursement of the 20-year old fund.

Recent statistics from the agency show that the fund is made up of N16billion and $350million, which has accrued into CVFF accounts, which brings to a total of N261billion, barring any fluctuations in foreign exchange calculations.