{"id":221,"date":"2023-01-25T07:27:50","date_gmt":"2023-01-25T07:27:50","guid":{"rendered":"https:\/\/peoplesforumonline.com.ng\/about\/?p=221"},"modified":"2023-01-25T07:27:50","modified_gmt":"2023-01-25T07:27:50","slug":"avail-us-of-your-lending-experiences-jamoh-charges-approved-banks-on-cvff-loan","status":"publish","type":"post","link":"https:\/\/peoplesforumonline.com.ng\/about\/2023\/01\/25\/avail-us-of-your-lending-experiences-jamoh-charges-approved-banks-on-cvff-loan\/","title":{"rendered":"Avail us of your lending experiences – Jamoh charges approved banks on CVFF loan"},"content":{"rendered":"The Director General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh has charged the executives of the five approved Primary Lending Institutions (PLIs) for the Cabotage Vessel Financing Fund (CVFF) disbursement to avail NIMASA of their lending experiences in order to make it a success.\nJamoh gave this charge when NIMASA management met with the banks’ CEOs on Tuesday at the agency’s boardroom in Lagos to discuss the best way to go about the CVFF disbursement.\nThe five PLIs are Union Bank, Zenith Bank, Jaiz Bank, Polaris Bank and UBA.\n\n\n\n\n\nJamoh stated that the essence of the meeting was to interface with them, let them know the nitty gritty of Cabotage Act and come up with modalities for the disbursement.\n\n\n\n\n\nHe stressed that their engagement was to tap from their financial and lending experiences, to avoid the pitfalls of the CVFF\u2019s predecessor, Ship Acquisition and Ship Building Fund (SASBF).\n\n\n\n\n\nAccording to him, the SASBF collapsed because it was managed by the then National Maritime Authority (NMA) and the Ministry of Transportation without requisite knowledge in loan disbursement and recovery.\nThe NIMASA boss disclosed that till now over eight shipowners have not paid back the SASBF loan.\n\n\n\n\n\nJamoh hinted that the decisions reached between the banks and NIMASA on the disbursement methods shall be discussed at a large meeting between NIMASA and shipowners, and other stakeholders.\nHe added that the final outcome of the large meeting shall form the fulcrum of the final decisions of the federal government on the disbursement.\n\n\n\n\n\nHe explained that the CVFF funding is a counterpart one as NIMASA will bear 50%, the banks 35% and the shipowners will bear the rest.\n\n\n\n\n\nThe PLIs commende the initiative, NIMASA and the federal government and expressed their readiness to key in into the disbursement but requested for more time, not later than one week, to do their own homework and report back to the NIMASA management.\n\n\n\nAvail us of your lending experiences – Jamoh charges approved banks on CVFF loan\n\nThe Director General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh has charged the executives of the five approved Primary Lending Institutions (PLIs) for the Cabotage Vessel Financing Fund (CVFF) disbursement to avail NIMASA of their lending experiences in order to make it a success.\nJamoh gave this charge when NIMASA management met with the banks’ CEOs on Tuesday at the agency’s boardroom in Lagos to discuss the best way to go about the CVFF disbursement.\nThe five PLIs are Union Bank, Zenith Bank, Jaiz Bank, Polaris Bank and UBA.\n\nJamoh stated that the essence of the meeting was to interface with them, let them know the nitty gritty of Cabotage Act and come up with modalities for the disbursement.\n\nHe stressed that their engagement was to tap from their financial and lending experiences, to avoid the pitfalls of the CVFF\u2019s predecessor, Ship Acquisition and Ship Building Fund (SASBF).\n\nAccording to him, the SASBF collapsed because it was managed by the then National Maritime Authority (NMA) and the Ministry of Transportation without requisite knowledge in loan disbursement and recovery.\nThe NIMASA boss disclosed that till now over eight shipowners have not paid back the SASBF loan.\n\nJamoh hinted that the decisions reached between the banks and NIMASA on the disbursement methods shall be discussed at a large meeting between NIMASA and shipowners, and other stakeholders.\nHe added that the final outcome of the large meeting shall form the fulcrum of the final decisions of the federal government on the disbursement.\n\nHe explained that the CVFF funding is a counterpart one as NIMASA will bear 50%, the banks 35% and the shipowners will bear the rest.\n\nThe PLIs commende the initiative, NIMASA and the federal government and expressed their readiness to key in into the disbursement but requested for more time, not later than one week, to do their own homework and report back to the NIMASA management.","protected":false},"excerpt":{"rendered":"

The Director General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh has charged the executives of the five approved Primary Lending Institutions (PLIs) for the Cabotage Vessel Financing Fund (CVFF) disbursement to avail NIMASA of their lending experiences in order to make it a success. Jamoh gave this charge when NIMASA management met […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-221","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/221","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/comments?post=221"}],"version-history":[{"count":2,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/221\/revisions"}],"predecessor-version":[{"id":224,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/221\/revisions\/224"}],"wp:attachment":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/media?parent=221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/categories?post=221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/tags?post=221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}