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By Steve Agbota
The Nigerian Maritime Administration and Safety Agency (NIMASA) has debunked a recent publication suggesting that the funds accrued under the Cabotage Vessel Financing Fund (CVFF) have been disappeared from the account at the Central Bank of Nigeria (CBN).
A statement issued on Tuesday, by Agency’s Head, Public Relations, Osagie Edward and made available to Daily Sun, quoted NIMASA Director General, Dr Dayo Mobereola, as saying that, “CVFF is intact and currently held with the CBN under the Single Treasury Account (TSA).”
Mobereola said that the report of a missing money was both misleading and false.
“For the record, the CVFF, securely held in the NIMASA account at the CBN, remains intact. There has been no disappearance of funds, and no illegal transactions, as the article suggests. This misinformation is a figment of the authors’ imagination, aimed at undermining NIMASA’s integrity, and misleads the public about the Agency’s operations,” he said.
According to him, the management of NIMASA will ensure that the CVFF is utilised in line with its statutory purpose while assuring stakeholders of the safety of funds under the CVFF.
“Let us be clear that the CVFF account at the CBN is safe, intact, and secure. We at NIMASA will continue to manage it with the utmost responsibility, and there are no irregularities or illegal activities surrounding the funds. I urge the public to disregard this false narrative and to continue trusting the Agency’s ability to uphold the integrity of Nigeria’s maritime sector”, he explained.
The CVFF was established under section 42 of the Coastal and Inland Shipping (Cabotage) Act 2003 to promote the development of indigenous ship acquisition capacity and to provide credit facilities to local maritime operators.
