…As Stakeholders Call for Improved Fiscal Regime, Multi-door Court House
The Nigerian Maritime Law Association has elected a new President, together with other Executive Council members to run its affairs for the next two years.
At its Annual General Meeting held recently, the association unanimously elected Mr. Louis Mbanefo (SAN) as its new President, Mr. Mbanefo who was the immediate past 1st Vice-President, replaces Hon. Justice M.B. Belgore (Rtd.), who passed on earlier in the year.
Others re-elected to the executive council include Chief B.A. Ajomale (1st Vice President), Chidi Ilogu (2nd Vice President), Mrs. Funke Agbor (Secretary), Mrs. Mfon Usoro (Treasurer), Mrs. Oritsematosan Edodo-Emore (Financial Secretary) and Mr. Emeka Akabogu (Publicity Secretary).
Meanwhile at the annual public lecture of the association that took place latter, stakeholders in the maritime industry highlighted fiscal policy as an important factor in achieving growth for the maritime industry.
Speaking at the public lecture which has the theme ‘Maritime Development Through Finance and Fiscal Policy’, the Managing Director of Skye Bank PLC, Mr. Kehinde Durosinmi-Etti, who was represented by the bank’s head of Maritime and Aviation, Sir Peter Olorunfemi, strongly canvassed the need for government to streamline the fiscal regimes applicable to the industry for improved investment and returns.
Adding voice to this demand, Ship owners also supported the call by identifying customs and stamp duties as particularly challenging factors to indigenous tonnage development. They also sought the creation of a Multi-Door court house in the Federal High Court to facilitate quick alternative resolution of disputes. Speaking on the subject, the President of the Maritime Arbitrators Association of Nigeria, Mrs. Doyin Rhodes-Vivour suggested this as a means to avoid overloading the tray of the Federal High Court.
The association ended its two-day AGM and Public Lecture with a spectacular night-time boat cruise along the Lagos lagoon
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