The Nigerian Maritime Administration and Safety Agency (NIMASA), recently disclosed reasons while the agency has not disbursed the much talked about Cabotage Vessel Financing Funds (CVFF) to indigenous Shipowners.
Speaking in Lagos, the Director General of the Agency, Patrick Akpobolokemi said the Ministry of Transport had not given the agency the go ahead to disburse the money after sending names of qualified beneficiaries to it.
Akpobolokemi who was represented at the event by the Executive Director, Shipping Services of the agency, Capt. Ezekiel Bala Agaba said the agency had done its own part leaving the remaining for the Ministry.
He also said that the agency had no right to disburse the fund but to recommend those who would benefit.
Akpobolokemi said, “NIMASA under the Cabotage Act only have the right to make recommendations to the Minister for approval which we have done since.
He however stated that the Cabotage Act did not give his agency the power to disburse the funds to the Shipowners.
“For disbursement, NIMASA does not have the power to release the money to anyone and you are all aware that we made recommendations to the ministry a long time ago.
He promised that whenever the Ministry sent back the names of approved companies to the agency, it would do the needful.
Akpobolokemi said the agency was being cautious of releasing the fund so that it would be used efficiently.
“If we are to release these public money, there is supposed to be due diligence so that the money will be repaid because it entails a lot of money,” he said.
When asked about the amount in the CVFF account, the DG said he could not say how much the money was because the money add up every day.
“I can’t say this is the amount in the account, I wish the ED Finance is here for him to tell us how much is in the account. I don’t want to say something now and they say am not correct so next time the ED finance will be here and he will tell us how much is in the account,” he promised.
