Pinnacle Time News

Management of the Nigeria Customs Service (NCS), Apapa Area Command today accused operator of the APM Terminals of joining undesirable elements and economic sabotuers to pilfer stuffs from the port and undermining efforts by the Federal Government to stem the tide of harmful and dangerous drugs that has been classified as abused pharmaceutcals. This is coming on the heels of an alleged stealing of some quantities of Tramadol from an undeclared container said to be in the custody of APM Terminal by its staff members, two of who have so far allegedly been caught. The suspects were said to have broken the seal of the said container and removed cartons of Tramadol which they attempted to take outside the port in the company’s official ambulance with registration number LND605XW, before they were caught at the exit point. But APMT has denied complicity in the matter, expressing disappointment with the management of the command for pandering to political ochestration. A source close to t...

Following last week’s stakeholders’ commitment to contribute to the nation’s seafarers’ capacity building and also raise the level of women participation in shipping and core industry operations, the leadership of the Ship Owners Association of Nigeria, SOAN, has paid a working visit to the Maritime Academy of Nigeria on a facility tour, following which a memorandum of understanding, MoU, was signed for the engagement of cadets of the Academy for their mandatory sea time training, onboard SOAN ships.   This development is coming on the heels of very sincere and robust engagements by the leadership of MAN and SOAN, and signposts the first ever major partnership deal to resolve the issues of knotty sea time training, which with a huge backlog of stranded cadets and national embarrassment the situation has exposed Nigeria. On ground to sign and seal the deal last Friday at the Academy, was the President of SOAN, Dr. McGeorge Onyung and Rector of MAN, Commodore Duja Effedua....

Sequel to the call off of a 3-days warning strike by the Maritime Workers Union of Nigeria, MWUN, the group is set to commence dialogue over disagreement and nonpayment of dockworkers wages and salary through stevedoring contractors with the aim of forestalling further interruptions of ports and upstream operations, the union has disclosed. In a statement signed by the Union President General and Secretary General, Comrades Adewale Adeyanju and Felix Akingboye, respectively, and made available to our reporter, the leaders noted that they have taken into cognizance concerns by industry stakeholders over the negative impact of the strike action on their business activities, and have resolved to engage with the critical stakeholders to resolving the issues. The statement noted that apart from the oil and gas sector players, the leadership of Nigerian Ports Authority, NPA, Nigerian Maritime Administration and Safety Agency, NIMASA, and Nigerian Shipper’s Council, NSC, will participate in...

Few days ago, the management of the Nigeria Customs Service under the watch of Col. Hameed Ali (retired) increased the service’s marine commands to four, up from the existing two, being the Western and Eastern Marine Commands, respectively. According to the service’s internal memo, the action was part of the latest reorganization reached at the 50th Regular Meeting of the Nigeria Customs Service Board held on Tuesday 21st May, 2019. For a long time already, due to the collapse of the customs marine operational fleet and the federal executive council (FEC) inexplicable lack of interest to investigate and reposition the unit, the task of keeping the beat going has fallen on the Nigerian Navy. The NCS is not only revenue generating in nature, but indeed is an integral part of the national security architecture, active in both economic and social security, as well indeed in trans border security, including other sensitive responsibilities in the diplomatic and continental regional b...

The Oyo State 90 hectares of land acquired for the Ibadan Inland Container Deport, has attracted a lone bidder at the close of its pre-qualification exercise, the Nigerian Shippers’ Council has disclosed. Above development has begun to generate controversy, raising doubt about the standard operating procedure of the bid process, as well as the viability of the project. However, top on the controversy is the apparent conflicts in the cost of the project, given official double speak on the matter following different financial outlays that have so far been deposed to. Commenting on the bid exercise, Barrister Hassan Bello, Executive Secretary/CEO of Nigerian Shippers’ Council, promoter of the project has explained that even though a sole candidate qualified in the bid exercise, it was not a guarantee that the bidder has won the project bid. He further explained that the bid may be subjected to further evaluation process by the Infrastructural Concession Regulatory Commission (ICRC) b...

The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Bank of Industry (BoI) has agreed to work together to raise the tempo of maritime investments and shipping development financing. This pledge by the two organizations was made at the maiden edition of the Nigeria Maritime Finance Fair put together in Lagos by the Association of Maritime Journalists of Nigeria (AMJON) . BoI at a presentation at the fair disclosed it has disbursed over $82m out of a pool of $200m fund set aside by the Nigeria Content Intervention Fund (NCDF) for investment windows in the maritime, oil and gas sector. The Director General of NIMASA, Dr. Dakuku Peterside while lauding BoI financial window for the maritime industry expressed the desire to partner the bank for an efficient synergy in availing the industry needed financial windows and intermediation, especially with regards to Cabotage Vessels Financing Fund (CVFF), which he said is still receiving legislative amendments at the Nation...

Amid quiet murmuring from some segments of the maritime and shipping development  sector, the Bank of Industry (BoI) has facilitated investment financing to the tune USDollar82 million. Management of the bank which dropped the hint yesterday in Lagos said the loan facilities were given to some indigenous investors in the country for the purchase of ships, ship repairs and allied investments, from the $200m fund provided by the Nigeria Content Intervention Fund. Managing Director of BoI , Kayode Pitan, who was speaking at the maiden edition of Nigeria Maritime Finance Fair held Lagos added that the financial window have created 3,117 jobs across the country. Pitan who was represented by a principal manager in its Oil and Gas Group, Mr. Victor Agina, urged the Nigeria Maritime Administration and Safety Agency (NIMASA) to partner with it in the management and disbursement of its Cabotage Vessels Financing Fund (CVFF). Pitan explained that stakeholders with 51percent indigenous e...