Oct. 16, 2013
The House of Reps ad-hoc Committee investigating the Cabotage Vessel Financing Fund, CVFF, has queried the management of the Nigerian Maritime Administration and Safety Agency NIMASA, over $326 million it paid to Global West Specialist Vessels Limited, a company purportedly owned by ex-militant leader, Chief Government Ekpemupolo aka Tompolo.
The House Committee was set up to ascertain how much has accrued into the CVFF, including the interest, as well as how much the Fund disbursed and to whom it gave the money. It also demanded to know why such huge amount of payment was made to Tompolo’s company secretly.
During the investigation, a member of the Committee, Dr Adejare Samuel Babatunde, raised an alarm at the amount of money paid to one single company, and demanded that a detailed bank statement of account of the CVFF be forwarded to the committee immediately. The committee, it was gathered, was also shocked by the payment of 50% of NIMASA’s generated revenue to the said company, contrary to laid down financial regulations of government.
The committee also picked holes at the NIMASA’s CVFF accounts and demanded an explanation on the movement of monies from the Fund to other accounts secretly.