Tuesday, 2 December 2025

SIFAX Group: "Nigeria’s return to the IMO Council is not only a victory for the government but also a triumph for the entire maritime industry and our nation’s standing in global shipping governance.” - Dr. Afolabi

SIFAX Group: "Nigeria’s return to the IMO Council is not only a victory for the government but also a triumph for the entire maritime industry and our nation’s standing in global shipping governance.” - Dr. Afolabi
DR. TAIWO AFOLABI, CHAIRMAN SIFAX GROUP 

… Commends Minister Gboyega Oyetola


Bisi Akingbade 

SIFAX Group has congratulated the Honourable Minister of Marine and Blue Economy, Gboyega Oyetola, on Nigeria’s successful election into the Council of the International Maritime Organisation after 14 years of absence.

In an official congratulatory letter, the Chairman of SIFAX Group, Dr Taiwo Afolabi, described the development as a historic national milestone and a triumph for the entire maritime industry while emphasising that Nigeria’s return to the IMO Council represents far more than a diplomatic success. 

In his words, “Nigeria’s return to the IMO Council is not only a victory for the government but also a triumph for the entire maritime industry and our nation’s standing in global shipping governance.”

Afolabi further credited the Minister’s leadership at the Ministry of Marine and Blue Economy for renewed global confidence in Nigeria’s maritime sector. According to him, “This historic achievement is a glaring proof of your visionary leadership, tireless diplomacy, and steadfast dedication to repositioning Nigeria as a respected and influential maritime nation. Your stewardship at the Ministry of Marine and Blue Economy has clearly inspired renewed international confidence in Nigeria’s maritime administration, safety standards, and blue economy aspirations.”

Speaking on the implications for private sector participation and industry growth, Afolabi noted that SIFAX Group is deeply encouraged by the achievement, as it reinforces the company’s confidence in the Federal Government’s reform-driven agenda for growth, competitiveness and sustainable maritime development.

Afolabi concluded by reaffirming the Group’s dedication to national progress through the maritime sector and assured the Minister of the Group’s ongoing support as he guides Nigeria towards greater relevance and influence in international maritime affairs.


NDIC, NIESV Strengthen Partnership on Failed Bank Asset Valuation

NDIC, NIESV Strengthen Partnership on Failed Bank Asset Valuation 
Mr. Thompson Oludare Sunday, MD/CE NDIC

Bisi Akingbade 


The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation , NDIC, Mr. Thompson Oludare Sunday, has called on the Nigerian Institution of Estate Surveyors & Valuers, NIESV, to strengthen strategic collaboration with the Corporation as the NDIC relies on NIESV members for accurate and credible valuation of assets of failed banks, which is critical for effective liquidation and payment of depositors.  

The MD/CE made the call during a courtesy visit by the President/Chairman of Council of the NIESV, Dr. ESV. Victor Adekunle Alonge, and members of his executive team to the NDIC Head Office, Abuja. 

The NDIC Chief Executive explained that the Corporation relies on precise and credible valuation reports during the liquidation of failed banks to determine the true worth of assets, which enables their sale at the best possible value. 

According to the press release issued by Head, Communication & Public Affairs Department.Hawwau Gambo
further noted that proceeds from the sale of these assets are applied toward the payment of depositors’ balances above the insured amount, making accuracy and professionalism in valuation essential to protecting depositor funds. 

He emphasized that NIESV’s professionalism therefore contributes directly to financial stability and depositor protection by ensuring transparency, fairness, and value-for-money in the disposal of assets and the recovery process. 

While calling on the leadership of the Institution to uphold the highest ethical standards and guard against insider abuse, the NDIC Chief Executive added that the Corporation is further strengthening its internal processes, including the development of a comprehensive Asset Management Policy to guide asset identification and documentation, valuation procedures, disposal strategies and transparency and accountability in recoveries. 

The NDIC Chief Executive emphasized the need for stronger collaboration between both institutions, noting that the Corporation welcomes opportunities for joint training and knowledge exchange between NDIC staff and NIESV professionals, particularly in emerging valuation methodologies, asset management, and sustainable valuation practices. 

President/Chairman of Council of the NIESV, Dr. ESV. Victor Adekunle Alonge reaffirmed the Institution’s commitment to professionalism and integrity. He explained that NIESV was established by an Act of Parliament and maintains strict disciplinary procedures to sanction any member found to be unethical or unprofessional.

 He reaffirmed the Institution’s commitment to sustained cooperation and technical support to the NDIC, noting that the partnership remains vital to enhancing service delivery and strengthening public confidence in the banking system. 

The courtesy visit underscored the shared commitment of both institutions to deepen collaboration, enhance professional standards, and strengthen the bank liquidation process in Nigeria for the overall stability of the financial system. 


                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       

Lilypond Command: Comptroller Ariyibi Applauds B'Odogwu Platforms for Seamless Export Processing

Lilypond Command: Comptroller Ariyibi Applauds B'Odogwu Platforms for Seamless Export Processing 
COMPTR. SAMUEL ARIYIBI, CAC LILYPOND EXPORT COMMAND, 

Bisi Akingbade 

The Customs Area Controller, Lilypond Export Command, Comptroller Samuel Ariyibi has commended the Comptroller General of Customs; CGC Bashir Adewale Adeniyi MFR, on introduction of a homegrown technology like B'Odogwu, said the new platform has paved the way for seamless export processing.

Comptroller Ariyibi said the  command recorded tremendous increase in export trade facilitation using the B'Odogwu digital platform.

He made this known during a working visit by executive members of Maritime Journalists Association of Nigeria, MAJAN.

He explained that with the B'Odogwu platform, export transactions must be initiated and completed at the same terminal, such that the data will not be compromised.

He added that "Using the B'Odogwu platform has shown that export can improve through seamless processing. At Lilypond Command, we have brilliant officers working tirelessly to enhance efficiency in export trade facilitation.

"I assumed office about three months now and didn't bring any officer here. I met a set of intelligent and well trained officers on the ground."
 
The Area Controller said that at Lilypond Command, the use of gatepass is fully implemented. This implies that all relevant stakeholders, terminal operators, NPA, and Customs are part of the system. 

"The exporters are also allowed access to the gatepass. This is because the gatepass allows goods to exit the terminal and show finished transactions. The gatepass is in the system to show what is exiting the terminal, to indicate that such goods are out of Customs Control area.

"You can see that we apply the policy thrust of the CGC on Consolidation, Collaboration and Innovation on export trade facilitation as well.

"Also, the gatepass shows the destination of where the goods exiting the terminal are going.

"This allows proper monitoring of exports to ensure that products taken from Nigeria are not diverted to neighbouring countries, rebag for exports to other countries, to the detriment of Nigeria’s economy." 

Comptroller Ariyibi also applauded the CGC on Customs reforms, automation of processes,  capability building for officers to enhance efficiency in the system, and achieve institutional excellence stressed, "Things must change for good."