HeadlinesMaritime Business Regional maritime bank: Amaechi seeks counterpart funding from West African countries By maritimemag April 8, 2022 ShareTweet 0 Abiola Seun Minister of Transportation, Rotimi Amaechi, on Thursday, asked other member states of the Maritime Organisation of West and Central Africa (MOWCA), to come forward with their financial contribution for the actualisation of Regional Maritime Development Bank (RMDB). Amaechi, who disclosed this when he received the Secretary General, Maritime Organisation of West and Central Africa (MOWCA), Dr. Paul Adalikwu, in Abuja, assured of Nigeria’s readiness to release its counterpart funding for the actualisation of the project. Recall that the headquarters and Presidency of the RMDB, have been ceded to Nigeria by the 25 countries that make up MOWCA. Also, the shareholding of the RMDB has been shared amongst MOWCA members with Nigeria taking the highest of 12 percent. However, in other to actualise the creation of RMDB, the Transportation minister, assured Adalikwu that efforts would be activated to secure an official accommodation for the bank in Abuja. Amaechi, however, promised to reach out to the Governor of the Central Bank of Nigeria (CBN) and urged other member states to come forward with their financial contributions too. He said, “We will be glad to put our resources down for the bank as soon as you are ready. We will just instruct them in Lagos to release the fund for you. “We are also ready to provide accommodation for the bank and we look forward to other states making their contributions. We wouldn’t want our money to be tied down” Speaking earlier, the MOWCA boss who led an incubation committee comprising of Cameroon and Congo Brazzaville representatives thanked the Nigerian government for supporting his candidacy. He also thanked Nigeria for payment of it’s arrears which has supported MOWCA in meeting some of its obligations to member states and employees Adalikwu said eight countries have signed up the charter with an interim board put in place. He told the Minister that the mandate for Nigeria to host the bank has been in place for ten years but activities for it’s creation were kick-started by Amaechi when he became Minister of Transportation. The MOWCA boss added that steps have been taken to make the organisation vibrant and fulfill it’s mandates. According to him , an organogram has been created with every employee schedule of duties duly specified. He disclosed that some of the employees he met on ground were inexperienced with inadequate education to man the offices they occupy and that communication has been activated with member states to nominate qualified persons that would help the organisation run smoothly and efficiently. Prof Gerard Messina, a representative of the Cameroonian Transport Minister, told Amaechi that his country is convinced in the ability of Nigeria and Adalikwu to strengthen the organisation. The head of Congo Brazzaville delegation in the MOWCA visit also described MOWCA under Adalikwu, within a short period as an organisation with proper sense of direction. © 2022, maritimemag. All rights reserved.