PROTOCOLS

Distinguished ladies and gentlemen, today we gather for the 14th Direct Membership Training Graduation Ceremony of the Chartered Institute of Forensics and Certified Fraud Investigators of Nigeria (CIFCFIN). This occasion is more than a graduation; it is a solemn reminder of the urgent duty that lies before every forensic professional, to rebuild trust, accountability, and integrity in our nation’s institutions. My address today is titled: “Plugging the Leakages: Why Nigeria Needs a Forensic Performance Audit of the Maritime Sector.”

Nigeria is a maritime nation blessed with over 853 kilometers of coastline and strategic seaports that should make us the hub of West and Central African trade. With our natural location, Nigeria ought to be competing with Singapore, Dubai, and Rotterdam as a global maritime leader. Previous reports from the Nigerian Maritime Administration and Safety Agency (NIMASA) estimate the untapped potential of Nigeria’s blue economy at over $296 billion. Yet, instead of being a driver of prosperity, the sector has become a symbol of lost opportunities, inefficiency, and deep-rooted corruption.

The facts are damning, and some case studies illustrate the scale of the crisis:

Corruption and Bribery: According to a report in the Punch Newspaper, corruption in the maritime sector imposes an annual cost of over $204 million, with bribes inflating the cost of shipments and frustrating genuine trade.

Port Inefficiencies: The Guardian reports that outdated infrastructure, congested ports, and sluggish cargo clearance processes cost Nigeria up to $7 billion every year. Imagine what $7 billion could do for our economy if invested in schools, hospitals, and infrastructure.

Neglect of Shipyards: A 2025 Guardian report revealed that poor management and financial neglect have left once-vital shipyards derelict, forcing Nigerian vessels to seek costly repairs abroad. Billions of naira that should be circulating in our economy now line the pockets of foreign operators. This is not only an economic drain; it is an affront to our national pride.

Nigeria has also steadily lost dominance in marine trade to foreign entities due to the absence of indigenous ships and shipyards. As ThisDay and other reports show, foreign carriers dominate our waters, taking jobs and revenue that rightfully belong to Nigerians. Today, the very arteries of our maritime economy are controlled by outsiders because we failed to protect and empower indigenous operators. Behind these failures are systemic weaknesses: outdated laws, poor enforcement, inter-agency rivalries, and a lack of modernization. Multiple initiatives by NIMASA, the Shippers’ Council, and successive administrations have been launched, but the problems persist. Why? Because we have been treating symptoms, not the disease.

That is why today, during this occasion, the Institute is making an urgent national call: Nigeria must undertake a comprehensive Forensic Performance Audit of the Maritime Sector. This is not a recommendation, it is a necessity. Such an audit will expose the true scale of corruption, quantify the hidden leakages, trace financial malpractices, and hold enablers accountable. Without a Forensic Performance Audit, we will continue to lose billions while neighbouring countries like Ghana, Togo, and Benin Republic attract the shipping traffic and revenues that should flow into Nigeria. We cannot allow our ports to remain choke points for corruption and inefficiency while our economy bleeds.

Our message to the Federal Government is clear: declare the maritime sector a priority for forensic performance audit. Let transparency replace opacity. Let accountability replace impunity. Let efficiency replace waste. And let Nigeria’s maritime sector finally become the engine of growth it was destined to be.

To the graduating class, this is where your calling as forensic professionals meets the urgency of the national moment. The forensic lens is not just for financial statements and fraud cases. It is for sectors like maritime, oil and gas, telecommunications, banking, and construction, and much more where billions are lost every year. You are being released today into a nation that needs you more than ever.

Distinguished participants, as you graduate today as certified professionals and fellows, I want you to have a better understanding/appreciation of what you have achieved for yourselves and also for your families. From today, you are now “change agents” and “change makers” who are dully enlisted in the anti-corruption army that will transform Nigeria into greatness. As certified professionals and fellows, you have been equipped with the knowledge, tools, skills, and ethical foundation necessary to make a positive impact on your communities and the nation at large.

Finally, I wish also to thank Prof. Abubakar O. Sulaiman, Director General of the National Institute for Legislative and Democratic Studies, our hosts, my esteemed members of the Governing Council, Chairman and Members of the Professional Training and Standards Committee (PT&S), the Registrar and Staff of the Institute for their commitment, dedication in serving the Institute and everyone else who made this event a success.

Thank you.

Yerima (Dr.) I.B. Gashinbaki, FCCrFA, FCCFI

Founder/Pioneer President & Chairman, Governing Council

25th September 2025