Article
CVFF Is Finally Disbursing After 23 Years: What It Is And Who Qualifies
After more than two decades of dormancy, Nigeria has finally begun disbursing the Cabotage Vessel Financing Fund (CVFF), a revolving loan facility funded by a 2% levy on cabotage-protected trade earnings since 2003. With up to $25 million available per qualifying applicant at 6.5% interest through twelve appointed Primary Lending Institutions, Nigerian shipowners now face the critical question of who qualifies and what it takes to access this long-awaited vessel acquisition finance.
Olisa Agbakoba Legal (OAL)