Maritime agency clarifies debt recovery contract

Hauwa Mustapha, Abuja

Dakuku Peterrside

Nigerian Maritime Administration and Safety Agency (NIMASA) has appointed Snecou Financial Services Company Limited, in a bid to recover debts worth billions of naira for the agency.

The approval for the contract granted by the Parastatals Tender Board(PTB) of the agency at its 55th session, in Lagos state.  

The contract, which also has the company serving as a recovery agent for debts owed the Agency, is for a period of two years in the first instance with an option for renewal.

Given the urgent need to recover the Agency’s debts which is in billions of naira, it sought and obtained approval for a “Certificate of No Objection” from the Bureau of Public Procurement in line with the Public Procurement Act (PPA).

According to the contractual agreement endorsed by both parties, it is in line with the plan of the Director General, Dr. Dakuku Peterside to implement NIMASA’s Medium Term Strategic Growth Plan.

According to the DG, “we have awarded a debt recovery contract which is totally different from what Global West was doing for NIMASA.

The contract was not awarded to the Chairman of the APC in Rivers State. It was awarded to Snecou Nigeria Limited and we advertised the contract in several newspapers. So I don’t see what is wrong with awarding a contract to get our money from debtors.”

Dr. Peterside also noted that the Agency’s debts were around four to five billion dollars which has necessitated an urgent need to recover them, in order to develop requisite infrastructure for the maritime industry.

Debts owed NIMASA by various operators in the maritime industry were the subject of a Public Hearing by the House of Representatives Committee on Maritime Safety, Education and Administration in June, this year.

The contract is expected to recover these debts and channel the funds into developing critical infrastructure and manpower for the industry.