TVCE, NEWS – Minister of Transportation, Rotimi Amaechi has accused an unnamed investor of receiving the sum of N32 billion for vessels, which he never delivered.
Amaechi said the unnamed investor fled after collecting the cash during the Dr. Goodluck Jonathan administration.
The money was paid from the Cabotage Vessel Financing Fund (CVFF), which indigenous ship owners last month urged Amaechi and Acting Nigeria Maritime Administration and Safety Agency (NIMASA) Director-General Haruna Baba Jauro to speak on.
The CVFF was created by the Coastal and Inland Shipping (Cabotage) Act, 2003 to promote ship acquisition by supporting ship owners.
Section 42, Part VIII of Section 44 of the Act empowers NIMASA to collect and administer the fund, under guidelines by the Minister of Transport, after approval by the National Assembly.
The fund was established to boost local content in the shipping industry.
Amaechi, who spoke yesterday in Abuja when he appeared before the Senate Committee on Marine Transport, did not name the investor.
Amaechi said about N300 billion was released to encourage investors in the maritime sector by the last administration but the many went down the drain.
Former President Goodluck Jonathan approved that the NIMASA University should be located at Okerenkoko, Warri South West Local Government.Amaechi also explained that an arrangement had been put in place to ensure that the dollar revenue accruable to NIMASA was paid directly to the Federation Account to boost foreign exchange for the country.
