By Oluyinka Onigbinde
A fresh wave of controversy has hit Nigeria’s maritime industry as Grimaldi Agency Nigeria comes under intense condemnation over its plans to sell thousands of empty shipping containers in U.S. dollars, a development stakeholders say could further weaken the Naira and contradict ongoing efforts to stabilise the country’s foreign exchange market.
Grimaldi Agency is of the leading shipping line agencies in Nigeria. It operates from the Tin Can Island Port in Lagos.
A document about the controversial container sales that was sighted by our correspondent indicate that the company is offering a 40-foot container at $2,000 and 20-foot container at $1,600, with insiders confirming that over 2,500 units are available for disposal.
A staff of the shipping company, who pleaded anonymity, confirmed the scale of the transaction, stating that the containers on sale “run into over 2,500 units”, adding that the disposal process follows internal terminal inspections and approvals.
According to the source, prospective buyers are allowed to physically inspect containers at designated terminals before purchase. After selection, invoices are issued strictly in U.S. dollars, payments are made through domiciliary accounts, and release is only processed upon confirmation.
Reacting to the development, the President of the Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON), Otunba Frank Ogunojemite, condemned the development in strong terms, describing it as “a direct affront to Nigeria’s economic stability and the Renewed Hope Agenda.”
He said, “At a critical time when the Federal Government is intensifying efforts to stabilize the Nigerian economy and strengthen the Naira, it is deeply concerning that a company operating within Nigeria would choose to denominate local transactions in a foreign currency.”
Ogunojemite argued that there is “no justification whatsoever” for pricing locally-stationed assets in dollars, insisting the practice amounts to economic distortion and an attack on local content principles.
“The sale of empty containers assets physically located within Nigeria has no justification whatsoever to be priced in U.S. Dollars. This dollarization is economically disruptive and undermines national financial sovereignty,” he added.
He urged the Federal Government, Central Bank of Nigeria (CBN), and Nigerian Shippers’ Council to urgently intervene and enforce strict compliance with Naira-based transaction policies.
However, the National Publicity Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Emmanuel Onyeme, offered a different perspective, confirming that such transactions are not unusual within the maritime sector.
He explained that the process typically involves inspection, dollar invoicing, payment through domiciliary accounts, and subsequent release of containers.
“These containers are usually nearing expiration in terms of usability. Buyers inspect, pay in dollars, and collect after documentation is completed,” Onyema said.
He further argued that the wider industry structure already operates heavily in foreign currency, pointing to freight payments and regulatory charges that are often denominated in dollars.
