CVFF Acruals Safe and Intact, Says NIMASA DG, Mobereola.
CVFF Acruals Safe and Intact, Says NIMASA DG, Mobereola.
By Izuchukwu Ozoemena
Contrary to the impression being bandied in certain quarters regarding the safety of the Cabotage Vessel Financing Funds (CVFF), the acruals remain intact and secure in the vaults of the Central Bank of Nigeria and her Single Treasury Account (TSA) arrangement.
Dr Dayo Mobereola, the Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA) gave the update, November 19 in a release by the agency.
According to the Director-General, the update has become necessary to refute misleading publications alleging that the funds have disappeared from the CVFF account.
“The report of missing money is both misleading and false”, the agency’s Assistant Director of Public Relations, Edward Osagie explained in a press statement.
“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 author’s imagination aimed at undermining NIMASA’s integrity, and mislead the public about the Agency’s operations.
“The Management of NIMASA will ensure that the CVFF is utilised in line with its statutory purpose”, the
NIMASA Director General stated.
Mobereola was emphatic about the state of the funds and assured stakeholders of the safety under the CVFF.
“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”
He urged the public to disregard any false narratives 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.
NIMASA, the release assured, is committed to transparency, accountability, and the advancement of Nigeria’s maritime sector.
