AfricaFinance and Insurance

Call for Nigerian ship finance bank

Photo of Sam Chambers Sam ChambersDecember 30, 2015
1 3 Less than a minute

The head of the Nigeria Ship Owners Association (NISA) has called for the establishment of a dedicated local shipping bank.

Speaking with local media, Captain Niyi Labinjo, the president of the association, said there was a need for greater ship finance expertise in the country as local commercial banks did not have the required shipping knowledge.

Labinjo observed that other sectors, such as agriculture, manufacturers and housing all have specific banks.

“Let us establish a maritime bank. We cannot work with commercial banks … We need a maritime bank that has an understanding of maritime issues,” Labinjo said.

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Photo of Sam Chambers Sam ChambersDecember 30, 2015
1 3 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Comments

  1. He’s right, it’s a need in a number of places around the world, but it needs to be done properly using experts.
    I have the team and the business plan, come along Mr. IN Vestor, and let’s get on with it. Actions – not Words at parties.

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