Minister of Transportation, Mu’azu Sambo, has expressed optimism that within the next 90 days, the Ministry would secure a facility for the take off of the Regional Maritime Development Bank.
He stated this Wednesday while playing host to the Secretary General, Maritime Organisation of West and Central Africa, MOWCA, Dr. Paul Adalikwu who was in his office on a courtesy visit.
“When I resumed here, I realized immediately that the Regional Maritime Bank is one of the lowest hanging fruits that we can achieve within a very short time. Infact 90 days are too long, ” he said.
Sambo noted that efforts made to acquire accomodation through the Central Bank of Nigeria are yet to yield expected outcome, promising to seek the help of the Attorney General of the Federation to see if one of the forfeited properties can be allocated to the bank.
Speaking further, Mu’azu urged the Secretary General, to leverage on MOWCA as a regional bank to push for Nigeria’s quest of becoming member of Category C in International Maritime Organization, IMO.
Speaking earlier, Dr. Adalikwu, said the idea of setting up the ban, was conceived 11 years ago to facilitate single digit interest loans to provide leeway to key players in the sector and enable them compete favourably with their international counterparts.
According to Adalikwu, “ Eight countries have signed the charter as required in the document establishing the bank. Two weeks ago, DRC Congo also signed making it nine countries, one above the threshold required for the establishment of the Act”.
Also speaking, the Permanent Secretary, Federal Ministry of Transportation, Dr. Magdalene Ajani, commended Dr. Adalikwu, on the forthcoming regional meeting scheduled for Abuja in November, 2022, where the Secretary General of IMO, Kitlack Lim, will endeavour to prevail on the 25 member states to adopt the Suppression of Piracy and Other Maritime Offences, SPOMO, Act, to enable trial of piracy cases within the MOWCA sub-region irrespective of whichever sub-region the crime was committed.
The meeting had in attendance the Minister of State for Transportation, Prince Ademola Adewole Adegoroye, Director, Maritime Services, Babatunde Bombata, Deputy Director, Cabotage and Shipping, Rita Zoaka among others.
