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NISA suggests conversion of CVFF to maritime bank

  L-R;Assistant General Secretary of NISA, Saint Peters Ashinwo; Publicity Secretary, Engr. Emmanuel Ilori; General Secretary, Tunji Brown, who represented the Acting President, Aminu Umar; and the Welfare Officer, Gbolahan Adu during the NISA news briefing in Lagos.

says Labinjo no longer represents
The Nigerian Shipowners Association
(NISA) on Monday said that there were moves to convert the Cabotage Vessel
Financing Fund (CVFF) into a Maritime bank.

The Acting President of NISA, Mr Aminu Umar, made the
disclosure at a news conference held by the association in Lagos.
Umar, who was represented by the association’s general
secretary, Mr Tunji Brown, said the initiative would make more funds available
for industry stakeholders and create more jobs.
“When this comes on stream, the CVFF will be so small
compared to what the maritime bank will be able to achieve.
“It will also make the funds easily accessible by ship
According to Umar, the NISA executive is focused on
driving and achieving the goals set up when it was constituted.
He said that the primary focus was to ensure that the
indigenous ship owners get back their jobs which had been taken over by
He said that in line with that vision, NISA would ensure
“that members’ vessels are compliant with the international regulations that
demanded that all single hull tankers be phased out’’.
He, however, thanked the Nigerian Maritime
Administration and Safety Agency (NIMASA) for extending the phase out of single
hull till 2020.
“We will, therefore, like to commend NIMASA for the
unprecedented bold initiative to extend the operation of single hull tankers to
year 2020.
“They have exercised these powers in line with IMO
regulations that allow flag states
to use their
“We will continue to work with NIMASA to create an
enabling environment that will remove the obstacles on the way of profitable
operation of indigenous shipping,’’ he said.
Also speaking, Capt. Emmanuel Ilori, the Publicity
Secretary of NISA, confirmed that Capt. Dada Labinjo was asked to step aside as
president of the association.
He said that Labinjo was not sacked but was asked to go
and concentrate on resolving his alleged involvement
in a case that involved the Economic and Financial Crimes
Commission (EFCC).
Ilori said this became necessary to enable the association
to move forward with its activities for the benefit of members and the economy
at large.
He, however, said that while the matter had yet to be
resolved, Labinjo was not permitted to represent the association in any
official matters.
“However, as long as the investigation continues, he
cannot represent the Nigerian Shipowners Association in any official capacity
and no transaction should be entered into with him on behalf of the association
,’’ Ilori said.

The Exco members present at the briefing were the association’s General
Secretary, Tunji Brown, who represented the Acting President, Aminu Umar;
Publicity Secretary, Engr. Emmanuel Ilori; the Assistant General Secretary, Saint
Peters Ashinwo; Financial Secretary, Dele Lanisa and the Welfare Officer,
Gbolahan Adu.
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