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President of Nigerian shipowners association arrested on graft charges

Perpignan: The Shipowners Association of  Nigeria (NISA) has said it might suspend its president, Captain Niyi Labinjo, who is being investigated by the Economic and Financial Crimes Commission (EFCC) for possible involvement in a $6.5m ship acquisition fraud.

The investigation centres on a failed ship sale between Acenk Maritime, a company owned by the NISA president, Energy Services Limited, and another indigenous shipowner, Mrs Nike Jolapamo-Onifade, the daughter of the immediate past president of NISA, Dr Isaac Jolapamo.

Labinjo and his wife have been arrested over claims that $2m of a $6.5m ship deal was diverted to the couple via a complex network of bank dealings. Labinjo denies the claims.

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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.
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