Fidelity bank card banner Camano banner
Ship owners call for establishment of Maritime Bank

By News Express on 30/12/2015

Views: 2,170

The Nigeria Ship Owners Association (NISA) has called for the establishment of a Maritime Bank to help develop the shipping business in the country.

The President of the association, Capt. Niyi Labinjo, made the call in an interview with the News Agency of Nigeria (NAN) in Lagos on Tuesday.

He said that the call became necessary because commercial banks did not have an understanding of maritime issues.

He said that the Federal Government could set up the specialised bank and use the Cargo Vessel Financing Fund (CVFF) as seed money.

“Let us establish a maritime bank. We cannot work with commercial banks.

“Shipping is never done like that. If you want to do Cabotage, you must use maritime bank for Cabotage.

“The reason is, the moment you hike the cost of accessing funds, it will become difficult.

“You have Bank of Industry for manufacturers; Bank of Agriculture for farmers. You even have Bank of Infrastructure.

“You have mortgage bank for housing. What does it cost to have maritime bank.

“Use the CVFF (Cargo Vessel Financing Fund) collection; use it as the seed money.

“In that wise, we shall be dealing with a bank that will be using maritime template.

“The commercial banks will never understand why a ship cannot disappear from the surface of the water.

“So we need a maritime bank that has an understanding of maritime issues.”

The mariner said it was unfortunate that shippers were not benefiting from the cargo vessel financing fund as well as the maintenance fund.

He, therefore, urged the government to create an atmosphere that would enable indigenous ship owners to benefit from the funds. (NAN)

•Photo shows NISA President, Capt. Niyi Labinjo.

Source News Express

Posted 30/12/2015 04:51:07 AM





You may also like...
Edo lawmakers to investigate deputy speaker for allegedly...

Oil company boss sentenced to death for corruption...

Breaking News: Robbers block Benin – Lagos Expressway...

Meningitis death toll now 813: Health Minister

Boko Haram returns to Sambisa Forest

All PDP aspirants united to unseat Buhari —...

Runners, spectators defy rain for Lagos City Marathon...

Breaking News: Arase redeploys 4 DIGs

Three ‘explosive devices’ found in London

Appeal Court okays EFCC’s investigation of petrochemical firm...

ICRC to concession Nigeria's medical warehouse facilities

MMM introduces innovations ahead of Jan. 14 return...


Latest News Journalist shot, top police officer killed as Shiites, Police battle in Abuja Some people kicked against my appointment as Kaduna Commissioner for Internal Security and Home Affairs — Aruwan Popular actress faces cocaine charge Ihedioha's list of commissioners ready on Tuesday Tribunal dismisses suit against Senator Chimaroke Nnamani Many feared killed as bandits attack Katsina community Group establishes 5-Bed Pediatric Intensive Care Unit at UNTH •To extend gesture to other teaching hospitals in Nigeria’s six geo-political zones 14 million Nigerians on drugs - Pharmacists Council 151 repentant Boko Haram members freed to go home Nigerian teenager killed in South Africa Some Yoruba leaders will be first to flee if war begins – Junaid Mohammed How we rescued 55 persons kidnapped by bandits in Zamfara – Police


Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (511,361 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (431,953 views) Shameless Genevieve Nnaji exposes breasts in public (374,087 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (317,109 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (282,916 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (247,487 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (239,763 views) 10 cars more expensive than Jets (224,842 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (221,592 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (209,154 views) Lagos plane crash: Journalist releases victims’ names (188,674 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (187,271 views)


NLNG Job Vacancy

CBN banner advert

UBA Wise Savers Promo


Categories Advertorials (3) African Press Organisation (81) Art & Literature (97) Business & Economy (4,359) Business Verdict (76) Columnists (1,076) Complaints & Requests (95) Enterprise & Opportunities (211) Entertainment (636) Features (781) Global Business Monitor (396) ICT Monitor (54) International (3,737) Interview (194) Live Commentary (30) Love Matters (164) Maggie's Blog (342) News (48,955) Opinion (1,293) Pidgin (17) Politics (11,181) Religion (1,053) Sports (2,106) Stock Watch (39) AMA & Al Jazeera Global Update






APO Group Partner




GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera