Esther Komolafe

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has emphasized the strategic significance of the Nigeria-China Currency Swap Deal for the country's maritime industry. Speaking at the Maritime Reporters' Association of Nigeria (MARAN) Breakfast Meeting, Cardoso who was represented by Mr. Anthony Ogufere, Special Adviser to the Governor on Finance and Strategy  said that the agreement could revolutionize trade between the two nations by reducing transaction costs, enhancing financial predictability, and increasing trade competitiveness. Key Benefits for the Maritime Industry Reduced Transaction Costs*: The currency swap agreement eliminates the need for third-party currency conversions, significantly lowering transaction…

The Nigerian Maritime Administration and Safety Agency (NIMASA) is calling on private individuals and corporate investors to tap into emerging opportunities within Nigeria's Blue Economy, particularly in the maritime sector. This call was made by NIMASA's Director General, Dr. Dayo Mobereola, at the ongoing 36th Enugu International Trade Fair. Key Initiatives: Integrated Development Strategy*: NIMASA is pursuing a strategy to support indigenous operators in ship acquisition, establish a National Carrier Line, and create maritime training institutions for world-class seafarers. Public Sector Cargo Support Programme*: The Agency is implementing a program to create a captive freight market for local carriers and…

The Maritime Workers Union of Nigeria (MWUN) has issued a 21-day ultimatum to Sea Transport Manning Services Ltd to sign a new Collective Bargaining Agreement (CBA) for its workers. The current CBA expired in 2023, and the union claims the company has been using delay tactics to avoid negotiations. Key Issues: Expired CBA*: The previous agreement has been expired for over two years, affecting workers' salaries and career progression. Union's Efforts*: MWUN has made several attempts to engage with the company, but their efforts have been met with frustration and stonewalling. Ultimatum*: The union is giving the company 21 days…

The Tincan Island Port Command of the Nigeria Customs Service collaborated with the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to organize a training lecture on transparency and accountability in public service. Held on April 11, 2025, at the Command Headquarters, the event drew officers from various units and representatives from ICPC and the Anti-Corruption and Transparency Unit (ACTU). Key Takeaways: Transparency and Accountability*: Comptroller Frank Onyeka emphasized that discipline, transparency, and accountability are non-negotiable values in the Nigeria Customs Service's operations. Public Trust*: Mrs. Mary Omonoyan, Guest Speaker from ICPC, highlighted that public trust is built on…

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has appointed Dr. Bolaji Akinola as his Adviser on Media and Communications. Dr. Akinola, a seasoned maritime and corporate communications expert, brings over 25 years of experience and deep industry knowledge to his new role. Dr. Akinola's Background: CEO of Ships & Ports Communication Company: A leading maritime media and public relations organization Expertise: Strategic communications, maritime sector analysis, port reforms, maritime security, shipping development, and Blue Economy Academic Credentials*: Doctorate Degree: Media and Communications, Pan-Atlantic University, Lagos    Master's Degrees:  MBA, Lagos Business School; Master of Transport Management, Ladoke Akintola…

The Maritime Reporters Association of Nigeria (MARAN) is set to host a crucial breakfast meeting to discuss the Nigeria-China Currency Swap Deal, a pact aimed at facilitating bilateral trade by providing Naira liquidity to Chinese businesses and Yuan liquidity to Nigerian businesses. This move seeks to reduce reliance on foreign currencies for transactions, promoting smoother trade between the two nations ¹. Key Details Date : Tuesday 15th of April 2025 Time: 10:00 AM Venue:: Rockview Hotel, Apapa, Lagos *Theme:* "Navigating the Nigeria-Peoples Republic Of China Currency Swap: Opportunities and Challenges for Import, Export and Maritime Business" Expected Attendees: Government Representatives*:…

The Nigeria Employers' Consultative Association (NECA) has commended the Nigeria Customs Service (NCS) for introducing impactful policy reforms and operational improvements under the current administration. NECA President, Dr. Ifeanyi Okoye, led a delegation on a courtesy visit to Comptroller-General of Customs, Bashir Adewale Adeniyi, on April 7, 2025, to strengthen collaboration on trade facilitation and private sector development. Key Reforms Commended: Advance Ruling System: Enables businesses to obtain advance rulings on tariff classification, reducing uncertainty and disputes. Authorised Economic Operator (AEO) Programme: Recognizes trusted traders and provides benefits such as faster clearance times and reduced inspections. Time Release Study: Measures…

The Maritime Reporters Association of Nigeria (MARAN) has confirmed the participation of key government and industry leaders at its forthcoming breakfast meeting focused on the Nigeria-Peoples Republic Of China currency swap. Notable attendees include : Central Bank of Nigeria (CBN) Governor*: Mr. Olayemi Cardoso has assured MARAN of full representation at the meeting. Federal Ministry of Finance: Representatives have expressed interest in participating. Chairman of the Customs Consultative Council*: Aare Hakeem Olanrewaju, Chairman of the breakfast meeting, has committed to being present. Other Confirmed Participants: Chinese Embassy: Representatives are expected to attend. Association of Nigerian Licensed Customs Agents (ANLCA)*: Members…

The Nigeria Customs Service (NCS) has successfully issued its first Pre-Arrival Assessment Report (PAAR) under the B’Odogwu Unified Customs Management System, marking a significant milestone in its commitment to technology-driven trade reforms. This development follows a strategic engagement between the Comptroller-General of Customs, Bashir Adewale Adeniyi, and the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, where both institutions reaffirmed their commitment to seamless trade processes, enhanced revenue collection, and improved financial integration . Key Features of the B’Odogwu System: Modernized Customs Operations: Designed to replace the Nigeria Integrated Customs Information System (NICIS II), B’Odogwu aims to enhance…

In a spectacular display of sportsmanship and athleticism, First Lady Remi Tinubu officially declared the 2025 Women's African Club Volleyball Championship open at the Moshood Abiola International Stadium in Abuja. This historic event marks the first time Nigeria has hosted the prestigious tournament, bringing together elite clubs from across the continent. A Showcase of Excellence The championship, which commenced on April 3, 2025, promises to be an exciting competition, with 16 top-notch clubs vying for the top spot. The Nigeria Customs Service Volleyball Team set the tone for the tournament with a thrilling straight-set victory over their Cameroonian counterparts, winning…