The management of the Nigerian Maritime Administration and Safety Agency, NIMASA said today that the accrued funds in the account of the Cabotage Vessel Financing Fund, CVFF, is intact and not tampered with.
In a statement signed NIMASA’s Head of Public Relations, Osagie Edward, the funds are intact and currently held with the Central Bank of Nigeria under the Single Treasury Account (TSA). Osagie was reacting to reports suggesting that the funds have disappeared from the CVFF account.
He said the report of a missing money is both misleading and false.
He said: “For the record, the Cabotage Vessel Financing Fund, securely held in the NIMASA account at the Central Bank of Nigeria (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 mislead the public about the Agency’s operations.”
He said the management of NIMASA would ensure that the CVFF is utilised in line with its statutory purpose.
The NIMASA Director General Dr Mobereola has, however, assured stakeholders of the safety of funds under the CVFF.
His words “Let us be clear that the CVFF account at the Central Bank of Nigeria 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”.
The CVFF is a fund 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.
The NIMASA Director General said the agency is committed to transparency, accountability, and the advancement of Nigeria’s maritime industry.
