Business

IMO Joins AACE To Boost African Trade

Published

2 years ago

December 5, 2024

OCHEFA

565 Views

International Maritime Organization (IMO) has joined States of the African Alliance for Electronic Commerce (AACE) to support work on ‘The Role of Single Windows and Digitalization in Boosting African Trade.

The members of AAEC are: Burkina Faso, Cameroon, Djibouti, Cote d’Ivoire, Gabon, Mauritius, Kenya, Libya, Morocco, Madagascar, Mali, Mozambique, Nigeria, Republic of Congo, Senegal and the WAEMU Commission.

This was disclosed by the Organization at a workshop held in Casablanca, Morocco (4 December). During the workshop, the participants learned about the 2022 amendments to IMO’s FAL Convention, which now mandates the electronic exchange of mandatory data in ports for the completion of formalities.

Since 1 January 2024, all IMO Member States are required to use a centralized digital platform or ‘Maritime Single Window’ to collect and exchange information with vessels when they dock at ports.

The workshop will boost States’ ability to implement a MSW, which aims to significantly reduce time and costs associated with port procedures and thereby enhance the efficiency of shipping worldwide.

The workshop was organized by the AACE in partnership with the Moroccan Single Window, Portnet SA.

Business

Naira Exchange Rates Thursday, 22 July

Published

7 hours ago

July 23, 2026

OCHEFA

23 Views

BLACK MARKET RATES

US DOLLAR (USD) Buy ₦1,405 Sell ₦1,410

GREAT BRITISH POUND (GBP) Buy ₦1,880 Sell: ₦1,900

EURO (EUR) Buy ₦1,580 Sell ₦1,600

CANADIAN DOLLAR (CAD) Buy ₦1,020 Sell ₦1,080

SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90

UAE DIRHAM Buy ₦350 Sell ₦370 CHINESE YUAN Buy ₦190 Sell ₦205

GHANA CEDI (GHS) Buy ₦95 Sell ₦110

WEST AFRICAN CFA Buy ₦2, 300 Sell ₦2, 400

CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250

AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900

CBN OFFICIAL EXCHANGE RATES

US DOLLAR (USD) ₦1,369.63

GREAT BRITISH POUND (GBP) ₦1,833.12

EURO (EUR) ₦1,563.03

SWISS FRANC (CHF) ₦1,685.08

JAPANESE YEN (JPN) ₦8.40

CHINESE YUAN (CNY) ₦202.21

WEST AFRICAN CFA (XOF) ₦2. 39

WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,867.90

SAUDI RIYAL (SAR) ₦366.36

SOUTH AFRICAN RAND (ZAR) ₦83.40

Business

President Tinubu Tasks Judicial Officers To Remain Abreast of Evolving Global Maritime Laws

President Tinubu made the call in Abuja during the 18th International Maritime Seminar for Judges, organised by the Nigerian Shippers’ Council (NSC), under the auspices of the Federal Ministry of Marine and Blue Economy, in collaboration with the National Judicial Institute (NJI).

Published

24 hours ago

July 22, 2026

OCHEFA

30 Views

President Bola Tinubu on Wednesday urged judges to continually update their knowledge on autonomous vessels, digital shipping, artificial intelligence-driven maritime operations, maritime security and evolving international environmental regulations.

Represented by the Minister of Marine and Blue Economy, Adegboyega Oyetola, President Tinubu lauded the Nigerian Shippers’ Council for initiating and sustaining the international seminar for judges.

He described it as one of Nigeria’s foremost platforms for strengthening maritime jurisprudence, enhancing judicial capacity and promoting excellence in maritime justice.

According to Oyetola , rapid technological advancement is creating unprecedented legal questions relating to liability, navigational responsibility, insurance, collision regulations and allocation of responsibility when autonomous vessels malfunction.

He emphasised that the courts will increasingly adjudicate disputes involving decarbonisation, environmental compliance, blockchain-enabled cargo documentation, electronic bills of lading and other evolving international maritime legal frameworks.

“The emergence of autonomous vessels demands a judiciary equipped to resolve complex legal questions involving liability, insurance, navigation and technological accountability.

“Judicial officers must remain abreast of evolving international maritime law to ensure justice keeps pace with technological innovation,” he said.