Resolution of Failed Banks: NDIC Commences Process to Conclude the Liquidation of 89 MFBs & PMB

Resolution of Failed Banks: NDIC Commences Process to Conclude the Liquidation of 89 MFBs & PMB

Bisi Akingbade 

The Nigeria Deposit Insurance Corporation (NDIC) has commenced the process of concluding the liquidation activities of 89 closed Microfinance Banks (MFBs) and Primary Mortgage Banks (PMBs) following their successful acquisition by new owners under the Purchase and Assumption (P&A) resolution model executed by the Corporation. 

The 89 closed banks were part of the 179 MFBs and 4 PMBs whose banking licenses were revoked by the Central Bank of Nigeria (CBN) on May 22nd and 23rd, 2023. Through the Purchase and Assumption agreements, 89 new eligible institutions were issued licenses by the CBN, to acquire the assets and liabilities of the defunct banks and have since commenced operations under new names. 

The Head, Communication & Public Affairs, Hawwau Gambo, in the press release stated that "In order to legally conclude the liquidation process in accordance with the provisions of its enabling Act and other relevant laws, the NDIC in its capacity as the Liquidator of the defunct banks, will be presenting applications to various Judicial divisions of the Federal High Court to obtain orders of dissolution for the closed banks and to release the Corporation as Liquidator." 

The list of the defunct banks and assuming new banks are as follows:

OLD NAME

NEW NAME

LOCATION

1

MOUAU VASMUCS MICROFINANCE BANK LIMITED

MOVASCO-OP MICROFINANCE BANK LIMITED

ABIA

2

EDUEK MICROFINANCE BANK LIMITED

MINT MICROFINANCE BANK LIMITED

AKWA IBOM

3

INI MICROFINANCE BANK LIMITED

UFORO MICROFINANCE BANK LIMITED

AKWA IBOM

4

NSEHE MICROFINANCE BANK LIMITED

VISTA MICROFINANCE BANK LIMITED

AKWA IBOM

5

ZAWADI MICROFINANCE BANK LIMITED

ZITRA MICROFINANCE BANK LIMITED

AKWA IBOM

6

AKPO MICROFINANCE BANK LIMITED

OGANIRU MICROFINANCE BANK LIMITED

ANAMBRA

7

ANYA MICROFINANCE BANK LIMITED

PIONNER (DIOHAUNOEGO) MICROFINANCE BANK LIMITED 

ANAMBRA

8

AWKA MICROFINANCE BANK LIMITED

PLANTINUM MICROFINANCE BANK LIMITED

ANAMBRA

9

ENUGWU-UKWU MICROFINANCE BANK LIMITED

UMUNRI MICROFINANCE BANK LIMITED

ANAMBRA

10

ISI-AKU MICROFINANCE BANK LIMITED

ISIEGO MICROFINANCE BANK LIMITED

ANAMBRA

11

OBOSI MICROFINANCE BANK LIMITED

ADIKE MICROFINANCE BANK LIMITE

ANAMBRA

12

CUB MICROFINANCE BANK LIMITED

UNICOOP MICROFINANCE BANK LIMITED

DELTA

13

UMEJEI MICROFINANCE BANK LIMITED

KOLISA MICROFINANCE BANK LIMITED

DELTA

14

ABC MICROFINANCE BANK LIMITED

OKADA MICROFINANCE BANK LIMITED

EDO

15

EHOR MICROFINANCE BANK LIMITED

EHINOMA MICROFINANCE BANK LIMITED

EDO

16

ESAN MICROFINANCE BANK LIMITED

UBJ MICROFINANCE BANK LIMITED

EDO

17

AMOYE MICROFINANCE BANK LIMITED

IKERE MICROFINANCE BANK LIMITED

EKITI

18

GOLDENFUNDS MICROFINANCE BANK LIMITED

ROYAL EXCELLENT MICROFINANCE BANK LIMITED

ENUGU

19

EVANGEL MICROFINANCE BANK LIMITED

VANGEL MICROFINANCE BANK LIMITED

IMO

20

GREENLAND MICROFINANCE BANK LIMITED

5TT MICROFINANCE BANK LIMITED

IMO

21

ARISE MICROFINANCE BANK LIMITED

SHINE MICROFINANCE BANK LIMITED

LAGOS

22

BANCCORP MICROFINANCE BANK LIMITED

BLOC MICROFINANCE BANK LIMITED

LAGOS

23

BISHOPGATE MICROFINANCE BANK LIMITED

ADVANCLY MICROFINANCE BANK LIMITED

LAGOS

24

BRIDGEWAY MICROFINANCE BANK LIMITED

BWAY MICROFINANCE BANK LIMITED

LAGOS

25

BRIYTH COVENANT MICROFINANCE BANK LIMITED

WESTON–CHARIS MICROFINANCE BANK LIMITED

LAGOS

26

CREDIT AFRIQUE MICROFINANCE BANK LIMITED

KAIZEN MICROFINANCE BANK LIMITED

LAGOS

27

ECHO MICROFINANCE BANK LIMITED

PLUS ONE MICROFINANCE BANK LIMITED

LAGOS

28

EYOWO MICROFINANCE BANK LIMITED

ENTREPRENEUR MICROFINANCE BANK LIMITED

LAGOS

29

FIYINFOLU MICROFINANCE BANK LIMITED

TEERUS MICROFINANCE BANK LIMITED

LAGOS

30

HACKMAN MICROFINANCE BANK LIMITED

LIGHTWAY MICROFINANCE BANK LIMITED

LAGOS

31

HALMOND MICROFINANCE BANK LIMITED

CASA MICROFINANCE BANK LIMITED

LAGOS

32

MANNA MICROFINANCE BANK LIMITED

SAVESIMPLE MICROFINANCE BANK LIMITED

LAGOS

33

MANNY MICROFINANCE BANK LIMITED

SILVEREND MICROFINANCE BANK LIMITED

LAGOS

34

MAYFAIR MICROFINANCE BANK LIMITED

OPTIMUN GLOBAL MICROFINANCE BANK LIMITED

LAGOS

35

MERCURY MICROFINANCE BANK LIMITED

DASH MICROFINANCE BANK LIMITED

LAGOS

36

MONEYWISE MICROFINANCE BANK LIMITED

INDULGE MICROFINANCE BANK LIMITED

LAGOS

37

NETWORK MICROFINANCE BANK LIMITED

UNICORN MICROFINANCE BANK LIMITED

LAGOS

38

NUTURE MICROFINANCE BANK LIMITED

MBAG MICROFINANCE BANK LIMITED

LAGOS

39

ONYX MICROFINANCE BANK LIMITED

DIGITVANT MICROFINANCE BANK LIMITED

LAGOS

40

OROS CAPITAL MICROFINANCE BANK LIMITED

EZPAY MICROFINANCE BANK LIMITED

LAGOS

41

PENIEL MICROFINANCE BANK LIMITED

ZIRCON MICROFINANCE BANK LIMITED

LAGOS

42

PRIMERA MICROFINANCE BANK LIMITED

KOINS MICROFINANCE BANK LIMITED

LAGOS

43

PURPLE MONEY MICROFINANCE BANK LIMITED

WILLOWS MICROFINANCE BANK LIMITED

LAGOS

44

STALLION MICROFINANCE BANK LIMITED

SPRINGFIELD MICROFINANCE BANK LIMITED

LAGOS

45

SUNRISE MICROFINANCE BANK LIMITED

STABLE MICROFINANCE BANK LIMITED

LAGOS

46

SURBPOLITAN MICROFINANCE BANK LIMITED

CHARIS MICROFINANCE BANK LIMITED

LAGOS

47

VERDANT-CAPITAL MICROFINANCE BANK LIMITED

VERDANT MICROFINANCE BANK LIMITED

LAGOS

48

ZIKADO MICROFINANCE BANK LIMITED

AVEST MICROFINANCE BANK LIMITED

LAGOS

49

AIYEPE MICROFINANCE BANK LIMITED

SPRINGVILLE MICROFINANCE BANK LIMITED

OGUN

50

INTERLAND MICROFINANCE BANK LIMITED

NEXTON MICROFINANCE BANK LIMITED

OGUN

51

STAR MICROFINANCE BANK LIMITED

SOSA MICROFINANCE BANK LIMITED

OGUN

52

ZIGATE MICROFINANCE BANK LIMITED

KATSU MICROFINANCE BANK LIMITED

OGUN

53

FASILIDAPO MICROFINANCE BANK LIMITED

OURPASS MICROFINANCE BANK LIMITED

ONDO

54

NEWAGE MICROFINANCE BANK LIMITED

CASHBRITE MICROFINANCE BANK LIMITED

ONDO

55

BOLUWADURO MICROFINANCE BANK LIMITED

AFOLE MICROFINANCE BANK LIMITED

OSUN

56

IBA MICROFINANCE BANK LIMITED

BANKEASY MICROFINANCE BANK LIMITED

OSUN

57

IDESE MICROFINANCE BANK LIMITED

SOFAJ MICROFINANCE BANK LIMITED

OSUN

58

OLA MICROFINANCE BANK LIMITED

RUN MICROFINANCE BANK LIMITED

OSUN

59

OLOFIN MICROFINANCE BANK LIMITED

DSC MICROFINANCE BANK LIMITED

OSUN

60

OLOFIN-OWENA MICROFINANCE BANK LIMITED

AVANTUS MICROFINANCE BANK LIMITED

OSUN

61

OSOGBO MICROFINANCE BANK LIMITED

BOLD MICROFINANCE BANK LIMITED

OSUN

62

FIRSTINDEX MICROFINANCE BANK LIMITED

RICIA CAPITAL MICROFINANCE BANK LIMITED

OYO

63

JOINT FARMERS MICROFINANCE BANK LIMITED

TELLERONE FI MICROFINANCE BANK LIMITED

OYO

64

OLOGBON MICROFINANCE BANK LIMITED

AKATA MICROFINANCE BANK LIMITED

OYO

65

IWOAMA MICROFINANCE BANK LIMITED 

TENN BANK LIMITED

RIVERS

66

ADAMAWA HOMES & SAVINGS LTD

ADAMAWA MORTGAGE BANK LTD

ADAMAWA

67

MAUTECH MICROFINANCE BANK LIMITED

MODIBBO ADAMA UNIVERSITY MICROFINANCE BANK LIMITED

ADAMAWA

68

MICHIKA MICROFINANCE BANK LIMITED

PREMIER MICROFINANCE BANK LIMITED

ADAMAWA

69

BIYAMA MICROFINANCE BANK LIMITED

DABTIKIR MICROFINANCE BANK LIMITED

ADAMAWA

70

MUSHARAKA MICROFINANCE BANK LIMITED

MUAMALA MICROFINANCE BANK LIMITED

NIGER

71

DANGIZHI MICROFINANCE BANK LIMITED

METRO EXPRESS NETWORK MICROFINANCE BANK LIMITED

NIGER

72

EDUMANA MICROFINANCE BANK LIMITED

EDUSOKO MICROFINANCE BANK LIMITED

NIGER

73

MAINSAIL MICROFINANCE BANK LIMITED

DUXBANK MICROFINANCE BANK LIMITED

FCT

74

ALLY MICROFINANCE BANK LIMITED

ULTRAVIOLET MICROFINANCE BANK LIMITED

FCT

75

BUSINESS SUPPORT MICROFINANCE BANK LIMITED

TRANSPAY MICROFINANCE BANK LIMITED

FCT

76

THE DANIELS GLOBAL MICROFINANCE BANK LIMITED

SWIFTTRUST MICROFINANCE BANK LIMITED

FCT

77

FIRST MULTIPLE MICROFINANCE BANK LIMITED

KOBOWEB MICROFINANCE BANK LIMITED

FCT

78

GRASSROOTS MICROFINANCE BANK LIMITED

MIA MICROFINANCE BANK LIMITED

KANO

79

BLUEWHALES MICROFINANCE BANK LIMITED

ELLINGTON MICROFINANCE BANK LIMITED

PLATEAU

80

JOSAD MICROFINANCE BANK LIMITED

PAYREP MICROFINANCE BANK LIMITED

NASARAWA

81

BIPC MICROFINANCE BANK LIMITED

NOVUS MICROFINANCE BANK LIMITED

BENUE

82

JAMIS MICROFINANCE BANK LIMITED

STRAIT SAHARA MICROFINANCE BANK LIMITED

BENUE

83

NARICT MICROFINANCE BANK LIMITED

BASAWA MICROFINANCE BANK LIMITED

KADUNA

84

FAHIMTA MICROFINANCE BANK LIMITED

CEDRUS MICROFINANCE BANK LIMITED

KADUNA

85

MABINAS MICROFINANCE BANK LIMITED

AL’HIKMA MICROFINANCE BANK LIMITED

KADUNA

86

NEW WORLD MICROFINANCE BANK LIMITED

BKD NEW MICROFINANCE BANK LIMITED

JIGAWA

87

NORTHBRIDGE MICROFINANCE BANK LIMITED

ESTEEM MICROFINANCE BANK LIMITED

KANO

88

OMU-ARAN MICROFINANCE BANK LIMITED

OLOMU APERAN MICROFINANCE BANK LIMITED

KWARA

89

CHERISH MICROFINANCE BANK LIMITED

COOL MICROFINANCE BANK LIMITED

KATSINA

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                

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NIMASA DG Commends NSDP Graduates, Tasks Them On Professionalism

NIMASA DG Commends NSDP Graduates, Tasks Them On Professionalism 

Director General, Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Dayo Mobereola in a group photograph with Nigerian Seafarers Development Programme (NSDP) Graduates when they paid an appreciation visit to the DG at the headquarters of the Agency in Lagos.

... As 34 NSDP Beneficiaries Obtain CoC

Bisi Akingbade 

The Director General of the Nigerian Maritime Administration and Safety Agency NIMASA, Dr. Dayo Mobereola, has described beneficiaries of the Nigerian Seafarers Development Programme (NSDP) who recently obtained their Certificates of Competency (CoC) as worthy ambassadors of Nigeria, noting their commendable character and professionalism.

Speaking during an engagement with the newly certified seafarers who paid him an appreciation visit in Lagos, the Dr. Mobereola commended their resilience and determination, having successfully navigated years of uncertainty to achieve professional certification.

He observed that while challenges can be perceived as obstacles, they can also serve as opportunities for growth, emphasizing that the officers chose the latter path. “You have weathered the storm; the future will be easier for you. We are proud of you,” the DG stated.

Dr. Mobereola further charged the Seafarers to remain disciplined and committed to excellence, urging them to serve as mentors to upcoming cadets within the maritime sector. He stressed that the Nigerian maritime industry requires their expertise and reaffirmed that Nigerian seafarers possess the capacity to compete favourably on the global stage, provided they remain consistent and professional.

Speaking on behalf of his colleagues, one of the officers, Edet Uttibe Michael, expressed profound appreciation to the NIMASA management for addressing their prolonged challenges. They recounted that after graduating from maritime institutions in Romania, they had remained without sea-time training and certification for about eight years.

According to him, the intervention of the current NIMASA management restored their hope and enabled them to realize their professional aspirations. He described the Director General as a compassionate and visionary leader who took decisive steps to resolve a longstanding issue that predated his tenure.

“We came to express our sincere appreciation for your magnanimity. You gave us hope and made our dreams come true,” Edet said.

Recently, NIMASA Management initiated strategic interventions to address the sea-time and CoC challenges for the NSDP beneficiaries.

This programme commenced in 2024 with the first batch of 40 cadets sent to Tyne Coast College, South Shields Marine School, United Kingdom, marking a significant milestone in resolving the longstanding challenge. Out of this number, 34 cadets passed.  

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IJAW LEADERS SUPPORTS ORETTE, MOVE AGAINST SPOILERS

IJAW LEADERS SUPPORTS ORETTE, MOVE AGAINST SPOILERS

    DR. AUSTIN ORETTE, DELTA SOUTH NDC SENATORIAL CANDIDATE 

Bisi Akingbade 

Ijaw politicians were on Wednesday urged to put aside pride, pettiness and partisanship but work with the Nigeria Democratic Congress, NDC,  to strengthen democracy in Nigeria and effective government in the South-South geo-political zone.

‘’The Nigeria Democratic Party (NDC) is gathering momentum. It is the fastest growing party in the country. It will create new infrastructure, develop local industries and provide a buoyant economy’’

The position of the Ijaw Professionals in Nigeria, IPIN, was encapsulated in a statement titled: A Path to Progress in 2027.

The group called for political unity in order for Ijaw politicians to exploit their pivotal position in the 2027 elections.

The Ijaw people in high places expressed admiration for Delta South NDC Senatorial Candidate, Dr. Austin Orette, for his sophisticated intelligence, leadership capacity, vision and plans for the district.

‘’Dr. Austin Orette is a symbol of all that is good. He will widen the circle of opportunity, build an ever more progressive district rooted in industry and technology and ensure a clean environment’’

They also expressed their commitment to instill in the Ijaw politicians what they described as critical self-consciousness which would lead to the emergence of NDC as the ruling party in Ondo, Edo, Delta, Bayelsa, Rivers, Akwa-Ibom and Cross River.  

‘’We will campaign hard against other parties in Ijaw land. Nigeria Democratic Party, NDC, will act as the catalyst of development and unity’’’

The position was presented to newsmen by the persuasive and vivid spokesman for the Ijaw United Front, IUF, Dr. Pere Sodienye.

The Ijaw professionals urged the Delta South electorate to evaluate the current senator and compare his performances with the promises of Dr. Austin Orette.

‘’The good people of Delta South want a change. Dr. Austin Orette will promote a strategy of rapid industrialization in Delta South Senatorial District ’’

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Customs Begins AI-Driven Training on Revenue Generation, Remittances, Reconciliation

Customs Begins AI-Driven Training on Revenue Generation, Remittances, Reconciliation

   CGC BASHIR ADEWALE ADENIYI 

The Nigeria Customs Service, NCS, has commenced a capacity-building programme on Artificial Intelligence (AI)-driven revenue generation, remittances and reconciliation as part of efforts to enhance transparency and efficiency in public financial management.

The training, held at the Ladi Kwali Hall of the Abuja Continental Hotel on Monday, 13 April 2026, brought together senior Customs officers, technology experts and representatives of legislative oversight committees.

The participation of lawmakers and Customs officials reflects growing collaboration between the Service and the National Assembly to strengthen accountability and adopt modern technological solutions in public administration.

Speaking at the event, the Comptroller-General of Customs, Adewale Adeniyi, said the Service remains committed to improving transparency in public accounting by adopting innovative technologies.

“We are united in our resolve to ensure transparency in public accounting. Technology continues to evolve and plays an important role in strengthening our operations. It has also helped us better understand patterns in international trade,” he said.

The CGC expressed optimism about the opportunities Artificial Intelligence offers to improve Customs operations, while noting that the Service operates within a broader national and international trade value chain.

“We want to reap the benefits of Artificial Intelligence collectively. I encourage participants to actively engage the facilitators, ask questions and take full advantage of the training,” he added.

In her welcome address, the Deputy Comptroller-General of Customs in charge of Finance, Administration and Technical Services, Kikelomo Adeola, described the programme as both timely and strategic.

“This training reflects our commitment to national development. Artificial Intelligence is no longer a concept of the future; it is a technology we must embrace to strengthen our systems,” she said.

DCG Adeola explained that the programme was designed to address existing gaps in revenue management and to equip officers with the skills required to utilise AI tools to safeguard public funds.

She also acknowledged the presence of members of legislative oversight committees, describing it as evidence of a shared commitment to strengthening transparency and accountability.

“This synergy is important. I encourage participants to ask relevant questions and exchange ideas that will enhance the effectiveness of this initiative,” she added.

Delivering a goodwill message, the Chairman of the House of Representatives Public Accounts Committee, Bamidele Salam, commended the NCS for its reform-oriented approach and commitment to innovation.

Customs is a global institution and plays a critical role in shaping Nigeria’s economic image. I commend the Comptroller-General for the progress made so far,” he said.

Salam described the training as a necessary intervention, noting that the application of Artificial Intelligence in public institutions within Nigeria remains limited.

“We must continue to build capacity because the effectiveness of any system ultimately depends on the people who operate it,” he added.

Similarly, the Chairman of the Senate Public Accounts Committee, Senator Ahmed Aliyu, called for sustained collaboration in building resilient systems capable of serving future generations.

“All hands must be on deck. We must build systems that will endure and continue to serve the nation for years to come,” he said, while commending the NCS for its ongoing reforms.

The training also featured a presentation by technology expert Bamidele Oyedeji, who highlighted the role of Artificial Intelligence in enhancing trade facilitation and improving operational efficiency within Customs administrations.

The programme underscores the Service’s determination to leverage emerging technologies to strengthen revenue assurance, transparency, and overall operational effectiveness.

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ACG EDELDUOK COMMENDS EXCISE TRADERS, SEEKS FOR MORE SUPPORT IN REVENUE GENERATION AT OYO/OSUN AREA COMMAND

ACG EDELDUOK COMMENDS EXCISE TRADERS, SEEKS FOR MORE SUPPORT IN REVENUE GENERATION AT OYO/OSUN AREA COMMAND

Bisi Akingbade 

The Assistant Comptroller-General in charge of Excise, Free Trade Zone and Industrial Incentives, Assistant Comptroller General Eghosa Joy Edelduok, alongside her delegation, engaged excise traders and key stakeholders on Thursday, 9th April , 2026 at the Operational Headquarters of the Oyo/Osun Area Command.

In her address, the Assistant Comptroller

General Edelduok acknowledged the critical role of excise factories in driving revenue generation for the Service. She commended stakeholders for their compliance with excise regulations and urged them to sustain their support and cooperation in order to enable the Command and the Service not only meet but surpass their revenue targets.

She further praised the Oyo/Osun Area Command for contributing significantly about one-third to the overall revenue collection. She charged Officers in charge of excise factories to remain diligent and committed towards ensuring the Command achieves its set targets for the year.

In his remarks, the Acting Customs Area Controller, Oyo/Osun Area Command, Deputy Comptroller Wale Moses Adewole, expressed appreciation to the Comptroller-General of Customs, Comptroller General of Customs Bashir Adewale Adeniyi, MFR, fnipr, psc (+), and the Management Team for the laudable initiative of constituting a committee under the leadership of the Assistant Comptroller General in charge of Excise, Free Trade Zone and Industrial Incentives. He noted that the initiative provides a vital platform for engaging stakeholders, encouraging compliance with excise regulations, and identifying operational challenges affecting their businesses.

The engagement concluded with an interactive session, during which stakeholders sought clarifications on key issues and highlighted challenges affecting their operations, with assurances from the Service of continued collaboration and support.

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Liberia Fisheries Summit: Oyetola Calls for Regional Co-operation, Investment Drive

Liberia Fisheries Summit: Oyetola Calls for Regional Co-operation, Investment Drive

... "No single country can tackle illegal, unreported, and unregulated fishing alone,” he said, adding that stronger collaboration through regional bodies such as the FCWC is essential." - Oyetola 

Bisi Akingbade 

Nigeria’s Minister of Marine and Blue Economy and Chairman of the Fisheries Committee for the West Central Gulf of Guinea, Dr. Adegboyega Oyetola, has called for stronger regional co-operation and increased investment in the fisheries sector across West and Central Africa.

He made the call in Monrovia, Liberia where he spoke at the National Fisheries Investment Conference held from 30 to 31 March 2026. The conference was declared open by Liberia’s President, Joseph Nyuma Boakai, and was attended by Ministers responsible for fisheries and aquaculture from across the subregion.

Describing the gathering as timely, Oyetola said it provided an important platform to unlock opportunities in fisheries and the wider blue economy. “This Conference comes at a critical time for our region,” he said, noting that the sector remains central to food security, employment and economic growth.

According to him, millions of people across West and Central Africa depend on fisheries and aquaculture for their livelihoods, while fish remains one of the most affordable sources of protein. However, he warned that the sector continues to face serious challenges. 

“Despite our rich marine and inland water resources, the sector continues to face significant challenges,” he said, citing declining fish stocks, weak infrastructure, and limited access to finance and modern technology.

Dr. Oyetola emphasised that addressing these challenges requires a clear focus on sustainability, investment and regional collaboration. He stressed that without proper management of marine and inland resources, long-term gains would be impossible. 

“Our oceans, rivers, and coastal ecosystems must be carefully managed… without sustainability, long-term benefits cannot be achieved,” he stated.

He said the the Federal Government under President Bola Ahmed Tinubu is repositioning fisheries and aquaculture as key drivers of the blue economy. He explained that policies aimed at boosting local production, reducing imports and strengthening regulation are already delivering results, including continued access to international markets for shrimp exports.

He also highlighted broader reforms in Nigeria’s blue economy, including actions to tackle marine pollution, improve port infrastructure and enhance maritime security. According to him, the country’s recent record of zero piracy incidents has helped improve investor confidence in the Gulf of Guinea.

On investment, the minister called for greater funding across the entire fisheries value chain, including aquaculture, processing, cold-chain logistics and export development. He noted that with the right policies in place, the sector could generate jobs, particularly for young people, and contribute significantly to economic growth. 

He also underscored the importance of regional co-operation, pointing out that fish stocks cut across national boundaries. 

“No single country can tackle illegal, unreported, and unregulated fishing alone,” he said, adding that stronger collaboration through regional bodies such as the FCWC is essential.

In his role as Chairman of the FCWC Ministerial Committee, Oyetola reaffirmed the organisation’s commitment to strengthening joint efforts in fisheries governance. He highlighted ongoing initiatives, including a regional record of fishing vessels, coordinated patrols and information-sharing systems aimed at improving enforcement and sustainability.

 

The minister further noted that the FCWC is working to harmonise fisheries policies among member states and promote trade within the region, with the goal of improving value chains and attracting investment. 

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Oyetola Urges Stronger EU Role Against Illegal Fishing, Maritime Crimes in Gulf of Guinea

Oyetola Urges Stronger EU Role Against Illegal Fishing, Maritime Crimes in Gulf of Guinea

CAPTION* 

Honourable Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola (right) and the Head of the European Union Evaluation Mission on the Gulf of Guinea Inter-regional Network (GoGIN II) Project, Ms Stéphanie Vergniault (left), when the EU Evaluation Mission on the GoGIN II Project visited the Minister in his office in Abuja on Thursday.

Bisi Akingbade 

The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, has called for deeper collaboration with the European Union to address emerging maritime threats, particularly illegal fishing, trafficking and environmental crimes in the Gulf of Guinea.

Speaking on Thursday in Abuja while receiving a delegation from the European Union Evaluation Mission on the Gulf of Guinea Inter-regional Network (GoGIN II) Project, Dr. Oyetola emphasised that evolving security challenges in the region require a broader, more integrated and sustained response anchored on strong international partnerships.

The delegation, led by Ms Stéphanie Vergniault, is in Nigeria as part of an independent assessment of the EU-funded initiative, which supports maritime coordination and information sharing across the Gulf of Guinea.

According to the press release issued by the Special Adviser to the Honourable Minister, Dr. Bolaji Akinola highlighted that Dr. Oyetola reiterated Nigeria’s firm commitment to the Yaoundé Architecture for Maritime Security, describing it as a vital platform for regional cooperation, collective response and intelligence exchange. He noted that EU-backed interventions such as GoGIN II have played an important role in strengthening this framework, particularly by enhancing maritime domain awareness and facilitating closer collaboration among national and regional agencies.

The Minister acknowledged the impact of the YARIS information-sharing system in improving coordination among maritime stakeholders, while stressing the need to sustain and optimise its operational use. He also highlighted the importance of improving interoperability between regional centres and national institutions, alongside continued capacity building and technical support.

*CAPTION* 

L-R: Permanent Secretary, Federal Ministry of Marine and Blue Economy, Mrs. Fatima Sugra Mahmood; Honourable Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola; Head of the European Union Evaluation Mission on the Gulf of Guinea Inter-regional Network (GoGIN II) Project, Ms Stéphanie Vergniault, and a member of the mission, Captain Alioune Diop, when the EU Evaluation Mission on the GoGIN II Project visited the Minister in his office in Abuja on Thursday.

Pointing to Nigeria’s own efforts, Dr. Oyetola cited the success of the Deep Blue Project, which has contributed to a significant reduction in piracy and armed robbery at sea in the Gulf of Guinea in recent years. He said the progress recorded demonstrates the effectiveness of combining national ownership with regional and international support. 

As the GoGIN II programme nears completion, the Minister urged stakeholders to focus on consolidating its achievements and ensuring long-term sustainability through stronger regional ownership mechanisms. He stressed that maintaining the gains recorded would be critical to securing the maritime domain and supporting economic activities across the Gulf of Guinea. 

Earlier, Ms Vergniault explained that the evaluation seeks to assess the programme’s performance, operational results and sustainability, while identifying lessons that could shape future maritime security initiatives. She noted that the mission, which also includes Captain Alioune Diop, is engaging key stakeholders in Nigeria to gather operational feedback on the use of the YARIS platform, the programme’s contribution to coordination under the Yaoundé Architecture, and the prevailing challenges in the maritime sector. 

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