With Buhari’s Approval, Hold Me Responsible If CVFF Is Not Disbursed, Sambo Assures Stakeholders
SAMBO
By Francis Ugwoke
The Transportation Minister, Alhaji Muazu JaJi Sambo on Saturday assured that the Cabotage Vessel Financing Fund (CVFF) will be disbursed now that President Muhammadu Buhari has given his approval to that effect.
Sambo who announced the approval conveyed to his Ministry by President Muhammadu Buhari during the flag off ceremony of Batch B of 3rd Phase of the Nigerian Seafarers’ Development Programme (NSDP) in Lagos said the disbursement is real and with immediate effect following Buhari’s approval.
When reminded that such promises were made in the past 17 years without effect, the Minister insisted that he has no doubt that this time the fund will be disbursed.
Allaying doubts by stakeholders on the reality of the fund disbursement, the Minister said he should be held responsible if the promise is not fulfilled.
He said that what happened before in which the fund was not disbursed were administrative constraints.
Sambo said that by Monday, he will formally send a memo to the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh conveying the approval of the President to him.
He gave an indication that from there, necessary administrative process will begin.
He disclosed that the Ministry of Finance and the Central Bank of Nigeria (CBN) will all be reached for their own roles on the immediate release of the fund.
Sambo disclosed that the CVFF is made up of N16bn and $350m as what will be disbursed.
He said that already, the guidelines have been set, adding that five banks including Union Bank, UBA, Zenith, Polaris and Jaize Banks will be incharge of disbursing the fund.
The Transportation Minister, Alhaji Muazu JaJi Sambo on Saturday assured that the Cabotage Vessel Financing Fund (CVFF) will be disbursed now that President Muhammadu Buhari has given his approval to that effect.
Sambo who announced the approval conveyed to his Ministry by President Muhammadu Buhari during the flag off ceremony of Batch B of 3rd Phase of the Nigerian Seafarers’ Development Programme (NSDP) in Lagos said the disbursement is real and with immediate effect following Buhari’s approval.
When reminded that such promises were made in the past 17 years without effect, the Minister insisted that he has no doubt that this time the fund will be disbursed.
Allaying doubts by stakeholders on the reality of the fund disbursement, the Minister said he should be held responsible if the promise is not fulfilled.
He said that what happened before in which the fund was not disbursed were administrative constraints.
Sambo said that by Monday, he will formally send a memo to the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh conveying the approval of the President to him.
He gave an indication that from there, necessary administrative process will begin.
He disclosed that the Ministry of Finance and the Central Bank of Nigeria (CBN) will all be reached for their own roles on the immediate release of the fund.
Sambo disclosed that the CVFF is made up of N16bn and $350m as what will be disbursed.
He said that already, the guidelines have been set, adding that five banks including Union Bank, UBA, Zenith, Polaris and Jaize Banks will be incharge of disbursing the fund.
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