The Management of the Nigerian Maritime Administration and Safety Agency, NIMASA has continued with constant stakeholders’ consultation and engagements with a view to ensuring effective communication to attain seamless disbursement of the Cabotage Vessel Financing Fund CVFF as approved by President Muhammadu Buhari.

NIMASA management led by its Director General, Dr. Bashir Jamoh held a meeting with the CVFF Steering Committee of the Nigerian Indigenous Shipowners’ Association NISA led by its Chairman Dr. Edward Sohwo.

Dr. Jamoh  once again reassure the indigenous shipowners of the commitment of the agency under the supervision of the Federal Ministry of Transport to implement the Presidential approval for the disbursement of the fund.

Federal Government through the Federal Ministry of Transport recently shortlisted five commercial banks comprising Union, Zenith, Polaris, UBA and Jaiz Bank to act as Primary Lending Institutions for the disbursement of the 20-year old fund. of N16billion and $350million, which has accrued into CVFF accounts,  bringing it to a total of N261billion.


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