Carbotage Fund:nimasa Increases Lenders To 12

As debate rages over interest rates

IN a bid to commence thedisbursement of the Cabotage Vessel Financing Fund, CVFF, in the next few weeks, the Nigerian Maritime Administration and Safety Agency, NIMASA, has said that it raised the numbers of Primary Lending Institutions, PLIs, appointed to midwife the disbursements of the Fund to 12 from the initial four.

Disclosing this to Newsmen in Lagos Wednesday, during the oversight visit of the House of Representative Committee on Safety Education and Administration, Director General of NIMASA, Dr. Dayo Mobereola, said that the process for the disbursements of the Fund has begun adding that the number of PLIs has also been expanded to accommodate more financial institutions for ease of administrating the Fund.

Mobereola also disclosed that the Minister of Marine and Blue Economy has approved the streamlined guidelines regulating the application and disbursement of the Fund.