Business
MWUN Passes Vote Of No Confidence On Shippers’ Council

The President of the Maritime Workers Union of Nigeria (MWUN), Prince Adewale Adeyanju, has passed a vote of no confidence on the leadership of the Nigeria Shippers Council (NSC).
Adeyanju decried the failure of the new Executive Secretary/Chief Executive of Nigeria Shippers Council (NSC), Hon Emmanuel Jime, to engage with the industry stakeholders on ways to tackle the myriad of problems confronting the maritime sector since assuming office.
Comrade Adeyanju, in an interview with journalists in Lagos, recently, cited the example of the reported invasion of the offices of some of the shipping companies in Lagos by alleged officials of the Federal Consumers Competition Protection Commission (FCCPC) with heavily armed men.
He expressed worries over NSC’s inability to rise up to its responsibilities in just a few months that its immediate past executive secretary, Barr. Hassan Bello, retired from service.
Adeyanju said: “This development explains the issue I am raising about the new man at the Shippers’ Council who is not meeting with stakeholders. If the invasion of the shipping companies’ offices had taken place in the time of Hassan Bello, you will see him in the forefront of the struggle to engage those invaders. He will be there”.
He continued; “We have written to congratulate Emmanuel Jime on his appointment, and for a courtesy visit, but he has never deemed it fit to meet with the union so that we can advise him.
“Back to the question of the invasion of the shipping companies by the said government agency, nobody can enter your compound without due process. When that invasion occurred, we were taken aback with my team. We left this office around 8pm that day. When they came, they attacked Hull Blyte, Cosco and others to the extent that they invaded the shipping line’s servers.
“We condemned that act no doubt, but a senior officer of the Nigerian Shippers’ Council (name withheld) called me and asked me where were those government officials that invaded the shipping companies with heavily armed men.
“My response to him was simple, you are the regulator, and you need to investigate them properly.
“We, however, wrote to the new man at the Shippers’ Council over the incident, but no response. So, we felt we could handle it in our own style. We are watching the new ES. As a regulator of the port industry, your door must be open to those you are regulating always. That is how it was in the time of Hassan Bello and that is why the industry is already missing him”, he said.
Comrade Adeyanju further recalled with nostalgia the administration of Barr. Bello, saying, “Leaders come and leaders go, what you do will also be on record and I am telling you today that we are missing somebody in the industry, somebody that has been an intermediary between maritime stakeholders whenever the need arises. When he was there, we did not value his performances, we thought what the man was doing was not supposed to be his job but where are we now?
By: Nkpemenyie Mcdominic, Lagos
Business
Infrastructure Deficit, Insecurity, Limit Maritime Contribution To GDP – Expert

A Maritime stake holder, and Chairman of Sifax Group, Taiwo Afolabi, has attributed maritime industry’s minimal contribution to Nigeria’s Gross Domestic Product (GDP) to infrastructure deficit, insecurity on the nation’s waterways, low level of technology adoption, and deployment in the sector.
Afolabi made this known at the 5th Taiwo Afolabi Annual Maritime (TAAM) conference organised by the Maritime Forum of the faculty of law, University of Lagos.
Afolabi noted that other hindrances are foreign exchange bottleneck and inconsistent policies.
“These have limited the ability of the sector to contribute significantly to the country’s Gross Domestic Product GDP.
“If well harnessed, the maritime industry has the potential to become a major revenue earner for the country, particularly with the declining oil revenue.
“The lessons of the last few years as a nation should not be lost on us. The non-oil sector is increasingly becoming the mainstay of the country’s economy. We have funded our national budget in the last few years majorly without proceeds from oil but from other sectors.
“The days of our over reliance on oil is behind us now and it’s about time we focused on transitioning from an oil-dependent economy to non-oil reliance.
“The maritime sector, I can say without any fear of contradiction, will play a crucial role in this economic transitioning if more attention is committed to the industry.
“Judging by the potentials of the industry, we are of the opinion and belief that Nigeria’s maritime industry can rank among the best in the world.
“It will only take careful planning, progressive policies, generous funding, enabling environment, friendly economic policies, manpower development and massive infrastructural development”, he noted.
Business
Loans Repayment Default: DMO Exonerates Nigeria

The Debt Management Office (DMO) has refuted the claim by the Socio-Economic Rights and Accountability Project (SERAP) that Nigeria has defaulted in repaying its Chinese loans.
SERAP had in an earlier statement hailed the judgement that ordered the present regime led by President Muhammadu Buhari to account for how it spent $460 million obtained from China to fund the Abuja Closed-Circuit Television project which later was not implemented.
The NGO also quoted a report in its statement saying “Nigeria has failed to repay loans for which penalties stand at N41.31bn”.
But DMO in its refuttal said the statement is ‘false’ as Nigeria has not defaulted in its loan repayment.
It said, “Nigeria is fully committed to housing its debt obligations and has not defaulted on any of its debt service obligations”, DMO said on Monday.
SERAP had sued the Federal Government following a 2019 disclosure by the Minister of Finance, Zainab Ahmed that “Nigeria was servicing the loan”, adding that she had “no explanations on the status of the project”.
She reportedly said, “We are servicing the loan. I have no information on the status of the CCTV project”.
Giving his judgement, Justice Nwite agreed with SERAP that “there is a reasonable cause of action against the government. Accounting for the spending of the $460 million Chinese loan is in the interest of the public. It will be inimical for the court to refuse SERAP’s application for judicial review of the government’s action”.
The presiding justice also said the Minister of Finance is in charge of the finance of the country and “cannot by any stretch of imagination be oblivious of the amount of money paid to the contractors for the Abuja CCTV contract and the money meant for the construction of the headquarters of the Code of Conduct Bureau (CCB)”, SERAP said.
Business
CBN Names Four Firms To Print Cheques

Nigeria’s apex banking institution, Central Bank of Nigeria (CBN), has named four local firms for the printing of cheques, excluding the Nigeria Security Printing and Minting Company (NPSMC) PLC.
The list of the approved firms for the printing of cheques was contained in a circular issued by CBN.
The circular, which was signed by the Director of Banking Services, Sam Okojere, said the approved firms include Superflux International Limited, Tripple Gee and Company, Yaliam Press Limited, and Marvelous Mike Press.
“The re-accreditation of Cheques Printers and Cheque Personalisers is in line with the relevant qualification criteria”, CBN stated.
The circular also revealed that seven banks were approved as personalisers of cheques: they are Zenith Bank Plc, Ecobank Plc, First Bank Ltd, Stanbic IBTC Bank Plc, Keystone Bank Ltd, Providus Bank Ltd and Wema Bank Plc.
It further disclosed that all accredited printers and personalisers had been duly notified and certificates issued.
The Nigeria Security Printing and Minting Company Plc is the sole printer of N200, N500, and N1000 new notes.
Nigeria Security Printing and Minting Company Plc and Euphoria Group Limited were accredited and approved on Thursday, 04 December 2014, in a letter REF: BPS/DIR/GEN/CIR/02/033.
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