By Uchenna Eletuo
Lagos – Mr Daniel Okwudili, the Executive Secretary of Cargo Defence Fund (CDF), on Friday decried the low patronage of the fund by Nigerian shippers.
He expressed regret that Nigerian shippers were not using funds meant to serve their interests in international trade.
Okwudili also expressed displeasure on the prevalent trade manipulations against Nigerian shippers by their trading counterparts.
Okwudili told the News Agency of Nigeria (NAN) in Lagos that such sharp practices against Nigerian shippers would not stop unless Nigerian shippers liaised with the CDF and make their misgivings formal.
The CDF executive secretary reiterated the fund’s commitment to protection of Nigerian shippers against international trade sharp practices.
He said that some shippers were unaware that the fund had been making `underground’ moves to dismantle international trade encumbrances.
The scribe called on Nigerian shippers to register with the fund to benefit from its legal and technical services aimed at safeguarding their businesses.
According to him, the fund is an offshoot of Nigeria Shippers Council (NSC) and offers payment for risk management services and foreign legal representation to aggrieved shippers.
“We convene alternative dispute resolution forum to disagreed parties to find soft-landing in international trade cases that would have lingered for ages, thereby disrupting business transactions,’’ Okwudili said.
He said that the Cargo Protection and Indemnity Fund and the Cargo Litigation Fund were merged to form the CDF.
The executive secretary called on shippers to embrace CDF for optimal services and avoid unwarranted international sharp practices in the maritime sector.
On the existence of the fund, Mr Onumba Arinze-Benjamin, the Public Relations Officer (PRO), Balogun Business Association (BBA), Trade Fair Complex Lagos, said that many importers in the market did not know about the fund.
He said: “many of us hardily believe in government rendering such services that will benefit us.’’ (NAN)