Sustainable Financing Framework for Nigeria's Maritime Sector

Dr. Olisa Agbakoba, Senior Partner at Olisa Agbakoba Legal, introduced a sustainable vessel financing framework to de-risk the $700 million Cabotage Vessel Financing Fund (CVFF) at a maritime policy roundtable.

The event, held on a Monday, gathered stakeholders from Nigeria's banking, insurance, and maritime sectors to discuss legal and financial structures necessary for supporting sustainable vessel financing and enhancing indigenous participation in the maritime industry. Yvonne Ezekiel, Managing Partner at Olisa Agbakoba Legal, emphasized the need for collaboration among financial institutions and maritime operators to address challenges in vessel financing.

Collin Okek, a partner at the firm, presented a legal credit risk framework to assist financial institutions in assessing maritime financing risks. He highlighted the importance of regulatory compliance and due diligence in safeguarding lenders' interests.

Nicola Bernard, Managing Director of NBC Maritime Ltd, discussed the role of professional ship management in protecting maritime investments and ensuring compliance with financial obligations.