Mobereola replies Jackson Ude, says no CVFF money missing

Maureen Aguta

Contrary to a publication by a former presidential media aide, Jackson Ude which claimed that about $180 million has disappeared from the Cabotage Vessel Finance Fund (CVFF), the Nigerian Maritime Administration and Safety Agency (NIMASA) has stated that funds accrued under the CVFF are intact and currently held with the Central Bank of Nigeria under the Single Treasury Account (TSA).

The agency in a statement by the Head, Public Relations, NIMASA, Edward Osagie, on Tuesday, disclosed that the report of missing money is both misleading and false.

“For the record, the Cabotage Vessel Financing Fund, securely held in the NIMASA account at the Central Bank of Nigeria (CBN), remains intact. There has been no disappearance of funds, and no illegal transactions, as the article suggests. This misinformation is a figment of the author’s imagination, aimed at undermining NIMASA’s integrity, and misleads the public about the Agency’s operations,” the statement said.

Speaking, the Director General of NIMASA, Dr Dayo Mobereola said that the Management of NIMASA will ensure that the CVFF is utilised in line with its statutory purpose. He further assured stakeholders of the safety of funds under the CVFF.

His words: “Let us be clear that the CVFF account at the Central Bank of Nigeria is safe, intact, and secure. We at NIMASA will continue to manage it with the utmost responsibility, and there are no irregularities or illegal activities surrounding the funds. I urge the public to disregard this false narrative and to continue trusting the Agency’s ability to uphold the integrity of Nigeria’s maritime sector”.

The CVFF is a fund established under section 42 of the Coastal and Inland Shipping (Cabotage) Act 2003 to promote the development of indigenous ship acquisition capacity and to provide credit facilities to local maritime operators.

NIMASA is committed to transparency, accountability, and the advancement of Nigeria’s maritime sector.