By Godfrey Bivbere
Minister of Transport, Alhaji Ibrahim Isa Bio has said that the Maritime Development Bank for the Maritime Organisation of West and Central Africa (MOWCA) would commence operations before the end of the first quarter of the year.

The Minister disclosed that the MOWCA Development Bank for which property has been secured in Abuja will take off before the end of the 1st quarter of 2010 while main banking activities will begin before the end of the year.

He however said he hoped that the other 24 member countries of MOWCA will not leave the issue of funding and honouring commitments to Nigeria alone as the Abuja MoU presently is. He also thanked member countries for their total support during the last elections at the International Maritime Organisation (IMO).

A press statement signed by the Chief Information Officer of the Ministry, Abiodun Oladunjoye, noted that Bio also stated that the establishment of a Regional Coast Guard Network will drastically reduce the incidence of armed robbery, piracy and drug trafficking in the Gulf of Guinea especially at the West and Central Africa.

He said that a Retired Rear Admiral has been appointed as the Zonal Coordinator for the Coast Guard which will soon take off before the end of January this year with staff seconded from Nigeria Maritime Administration and Safety Agency (NIMASA) for the Regional Coast Guard. NIMASA will also provide office space.

The Minister stated this when he played host to the Secretary General of MOWCA, Mr Magnus Teye Addico in his office in Abuja.

Speaking during the meeting the Secretary General of MOWCA Mr. Magnus Teye Addico informed the Minister that he came to visit him  to congratulate him on the success of Nigeria at the IMO and also to follow up on the projects being embarked on by MOWCA.

These are; the establishment of the Maritime Bank (In Abuja) which will be a development Bank that will assist in the development of the shipping and maritime related industries in the sub region and the establishment of the Regional Coast Guard Network which will also address environmental pollution and also help to enforce IMO conventions like Safety Of Life At Sea (SOLAS) among others.

Also on hand to receive  Mr Addico was the Permanent Secretary, Federal Ministry of Transport, Mr. Adefemi Olayisade , the Director, Maritime Services in the Ministry Mr. Musa Dagogo  and   consultant on MOWCA , Mrs. Mfon Usoro.