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NIMASA, 5 banks meet over $350m CVFF mgt, disbursement

Nigerian Maritime Administration and Safety Agency (NIMASA) and members of the executive management of Jaiz Bank, United Bank of Africa (UBA), Union Bank, Zenith Bank and Polaris Bank held a closed door meeting on Wednesday on the management and disbursement of $350million Cabotage Vessel Financing Fund (CVFF).
The banks are the Primary Lending Institutions (PLIs) approved by the  Federal Government for the disbursement of the CVFF.
It was learnt that the banks were expected to come up with issues such as the interest rate, tenor, collateral and other requirements needed to access the fund.

 

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